Applied DNA Signs Term Sheet with TheraCann International for Exclusive License of CertainT® Platform in Legal Cannabis and Hemp

Applied DNA’s CertainT Platform to Power TheraCann’s ETCH BioTrace
Seed-to-Sale Tracking System

STONY BROOK, N.Y. & PANAMA CITY–(BUSINESS WIRE)–lt;a href=”https://twitter.com/search?q=%24apdn&src=ctag” target=”_blank”gt;$apdnlt;/agt; lt;a href=”https://twitter.com/hashtag/cannabis?src=hash” target=”_blank”gt;#cannabislt;/agt;–Applied
DNA Sciences Inc.
 (NASDAQ: APDN) (“Applied DNA,” or “the Company”),
a leader in PCR-based DNA manufacturing for product authenticity and
traceability solutions, and TheraCann
International Benchmark Corporation
(“TheraCann”), a leading global
full-service legal cannabis and hemp consultancy, announced today that
they have entered into a non-binding Term Sheet (the “Term Sheet”) for a
long term exclusive licensing agreement for the use of Applied DNA’s
proprietary CertainT® supply chain integrity platform
technology within TheraCann’s ETCH BioTrace® seed-to-sale
tracking system. The Term Sheet is expected to be followed by a
definitive agreement (the “Agreement”).

Upon a signed Agreement TheraCann will pay to Applied DNA $5.0 million
in non-contingent phased payments over a period of six (6) months from
the date of the signing of the Agreement. In addition, Applied DNA will
be the exclusive supplier of SigNature® molecular tags,
molecular tag application systems and molecular tag authentication
systems to TheraCann for use within TheraCann’s ETCH Biotrace system.
The term of the exclusive license to TheraCann is patent term for
patented aspects, and 20 years for non-patented components.

“Having initiated our relationship with TheraCann in early 2018 through
a funded development agreement and working together to establish a
go-to-market strategy and robust joint business development pipeline
that includes 12 near-term revenue opportunities, we are very pleased to
move closer to formalizing a new phase of our relationship with
TheraCann,” said Dr. James Hayward, President and CEO of Applied DNA.
“Over the past year, TheraCann has been an incredible business partner,
and we look forward to supplying our CertainT platform as an integral
component to the ETCH Biotrace system that is capable of true
seed-to-sale tracking of legal cannabis, hemp and their derivative
products.”

Chris Bolton, COO of TheraCann said, “It is with great pleasure that we
have the opportunity to work more closely with Applied DNA and to take
ETCH BioTrace to the global market. We believe that ETCH BioTrace will
assist global governments, law enforcement, producers, processors and
distributors in stabilizing the cannabis supply chain and to assist with
both domestic and international import and export.”

Applied DNA cautions investors that the Term Sheet is a preliminary and
non-binding document. All terms contemplated in the Term Sheet,
including all upfront payments totaling $5.0 million, will only become
operative if a definitive agreement is executed. It is possible that no
definitive agreement will be reached, or, its terms or conditions may
differ from those described above.

Applied DNA also noted that Dr. Hayward will be in attendance at CannaTech
Panama
on 12 and 13 February, an event hosted by Israel
Cannabis
(iCAN) and sponsored by TheraCann.

About
TheraCann International Benchmark Corporation

Founded in 2016, TheraCann International Benchmark Corporation offers a
one-stop, full-service solution for the International cannabis
marketplace. TheraCann provides business, technology and industry
experts who apply advanced technology and help clients design, build and
run their cannabis businesses. Integrating nearly 3.5 million square
feet of cannabis operations and the successful launch of groundbreaking
Enterprise Resource Planning (ERP) software, Aeroponic cultivation
systems and patented genetic tracking and diversion prevention systems,
TheraCann provides cannabis-related businesses with solutions to fit
their regulatory requirements.

More information about TheraCann is available at www.theracann.solutions,
www.etchbio.solutions.
Follow us on Twitter
or Linkedin.

About Applied DNA Sciences

Applied DNA is a provider of molecular technologies that enable supply
chain security, anti-counterfeiting and anti-theft technology, product
genotyping and pre-clinical nucleic acid-based therapeutic drug
candidates.

Applied DNA makes life real and safe by providing innovative,
molecular-based technology solutions and services that can help protect
products, brands, entire supply chains, and intellectual property of
companies, governments and consumers from theft, counterfeiting, fraud
and diversion.

Visit adnas.com for
more information. Follow us on Twitter and LinkedIn.
Join our mailing
list
.

Common stock listed on NASDAQ under the symbol APDN, and warrants are
listed under the symbol APDNW.

Forward-Looking Statements

The statements made by Applied DNA in this press release may be
“forward-looking” in nature within the meaning of the Private Securities
Litigation Act of 1995. Forward-looking statements describe Applied
DNA’s future plans, projections, strategies and expectations, and are
based on assumptions and involve a number of risks and uncertainties,
many of which are beyond the control of Applied DNA. Actual results
could differ materially from those projected due to its history of net
losses, limited financial resources, limited market acceptance and
various other factors detailed from time to time in Applied DNA’s SEC
reports and filings, including our Annual Report on Form 10-K filed on
December 18, 2018 and our subsequent quarterly report on Form 10-Q filed
on February 7, 2019, and other reports we file with the SEC, which are
available at www.sec.gov.
Applied DNA undertakes no obligation to update publicly any
forward-looking statements to reflect new information, events or
circumstances after the date hereof to reflect the occurrence of
unanticipated events, unless otherwise required by law.

Contacts

investor contact: Sanjay Hurry, 212-838-3777, [email protected]
media
contact
: John Shearman, 631-240-8838, [email protected]
program
contacts:
John Shearman, 631-240-8838, [email protected]
web:
www.adnas.com
twitter:
@apdn

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