GCAC Announces Medical Cannabis Sales License and Shop Update
Company to launch Reddit style cannabis consumer portal under Prescriptii brand
Vancouver, British Columbia, Canada – TheNewswire - July 8, 2021 – Global Cannabis Applications Corp. ("GCAC" or the "Company") (CSE:APP) (FSE:2FA) (OTC:FUAPF) (CNSX:APP.CN), a leading medical cannabis chain-of-custody compliance and data platform, today announced that it is launching its web-shop portal (“Portal”) for medical cannabis patients. This launch is part of its core business as a Health Canada Medical Cannabis Sales License holder, under the Cannabis Act. The Portal, branded Prescriptii Patient Experience (“PPE”), is expected to go live August 2021.
Brad Moore, CEO of GCAC said, “Prescriptii is a consumer facing shop-window into our cannabis sales business vertical. As a cancer survivor, I experienced first-hand the challenges in trying to find what cannabis products could help me. So, without truthful, crowdsourced efficacy data from a solution like Efixii, I resigned myself to traditional chemical medical treatments. Today, we’re solving this dilemma for sufferers by bringing together thousands of cannabis experiences and collating them in an easy-to-navigate portal. And, as more cultivators license Efixii, the truth of their blockchain data contributes to our value and helps drive sales of cannabis in our web-shop.”
As part of its new Non-Possession Selling License business, GCAC will offer PPE as a Reddit-style Portal to medical cannabis consumers to review other users’ cannabis experiences. And, pursuant to the Cannabis Act (Part 6, Section 17-23) which prohibits the advertising of cannabis products, Prescriptii simply helps consumers make informed cannabis choices by collating strain-to-pain reviews from 600,000 users across 6,000 strains in an intuitive, compliant Portal, akin to a TripAdvisor-review model. Going forward, new Efixii data contributed by GCAC-licensed cultivators, and their customers, serves to grow and enhance the Prescriptii dataset over time.
Efixii-licensed cultivators support consumers on PPE by providing them with guaranteed quality cannabis products. Cannabis-grows powered by Efixii generate truthful grow-data on an Ethereum blockchain. Then, PPEs machine learning algorithms use Efixii grow and efficacy data to build strain-to-pain profiles, so that consumers can make informed choices. Furthermore, cultivators using Efixii can see what cannabis they should grow and also get reliable feedback for their strains.
Efixii is licensed to cultivators in a SaaS model, and is a free-to-use app for cannabis consumers. All cannabis sold through the Portal generates a new sales-commission revenue stream for GCAC.
Efixii’s cannabis data is the intellectual property (“IP”) of GCAC. This IP creates an inherent difficulty in replicating or competing with GCAC’s cannabis datasets. GCAC defined their protocols in a provisional U.S. patent application, ‘System of Process and Tracking Cannabis Products and Associated Method Using Blockchain’ filed with the USPTO on Dec. 17, 2020.
About Global Cannabis Applications Corp.
Global Cannabis Applications Corp. is a global leader in designing, developing, SaaS licensing and acquiring innovative data technologies for the medical cannabis industry. The Citizen Green and Efixii platforms are the world's first end-to-end - from patient to regulator - medical cannabis data solutions. They use six core technologies: mobile applications, artificial intelligence, RegTech, smart databases, Ethereum blockchain and GCAC smart rewards. These technologies transparently disclose cannabis chain-of-custody events, thereby enabling patients to provide crowd-sourced medical cannabis efficacy data. Driven by digital and cannabis industry experts, GCAC is focused on generating revenue from SaaS licensing its technology and acquiring high quality cannabis datasets that improve patient outcomes and to become the world’s largest cannabis efficacy data provider.
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This news release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of GCAC. Forward-looking information is based on certain key expectations and assumptions made by the management of GCAC. Although management of the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because GCAC can give no assurance that they will prove to be correct. Forward-looking statements contained in this news release are made as of the date of this news release. GCAC disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
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