GCAC Adds More Tokens to Balance Sheet Through Cross-Fi Buyback Program
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$12,500 Marketing Investment Creates More Investors & Increases Company’s Value
Vancouver, British Columbia, Canada – TheNewswire - June 1, 2021 — Global Cannabis Applications Corp. (“GCAC” or the “Company) (CSE:APP) (CNSX:APP.CN) (OTC:FUAPF) (FSE:2FA), a leading developer of innovative data technologies for the medical cannabis industry, today announced that Abbey Technology GmbH (“Abbey Technology”) has completed the first decentralized finance ‘DeFi’ token buyback of GCAC tokens on behalf of Global Cannabis Applications Corp. (“Global Cannabis“) (CSE: APP).
Half of the purchase occurred on Uniswap.org and the price moved up by 8.3% from $15.99 to $17.31 upon purchase completion [1].
The other half of the purchase occurred on Pancakeswap.finance and the price moved up by 37.5% from $17.65 to $24.26 upon purchase completion [2].
Global Cannabis’s treasury holding of GCAC tokens is now 100,550.8 [3] having a mark-to-market value, using Uniswap.org price of $17.31 per token, of CA$2,095,414 [4][5], a post-purchase CA$170,392 asset-value increase from this CA$12,500 spend.
Says GCAC’s CEO, Brad Moore, “ We went into the Cross-Fi program with one goal-raise awareness to a new class of investor that is both a user of medical cannabis and crypto. Today this buyback is the execution of that plan, with those tokens adding to our existing 100K. After careful deliberation our management team decide that there was no other way we could make such a nominal investment and get such a huge return in opportunity, brand awareness, new investors and added asset value to the balance sheet.”
Global Cannabis is publicly traded with audited financials and makes accurate revenue disclosures. Global Cannabis’s DeFi-inclusion marketing initiative is to commit to a marketing-spend of at least 1% of its quarterly sales revenue buying GCAC tokens on Uniswap and Pancakeswap every 3 months. Each token-buy should lead to greater awareness of the Global Cannabis’s products and drive potential new cannabis consumers to look for its Efixii ‘QR codes’ on the products that they are purchasing on-line.
[4] https://v2.info.uniswap.org/pair/0xf22645743415d8C06D78C8A4F0eA214041b4544F
[5] https://fx-rate.net/CAD/USD/ (0.83064)
About Abbey Technology GmbH, “Abbey”
Abbey, a Swiss company, specializes in developing, licensing and operating innovative blockchain technologies. The “Public-Company to Uniswap-Token” marketing platform was invented by Abbey alongside its Ethereum layer-2 high-throughput blockchain software-as-a-service. For information on Uniswap-token marketing campaigns for public companies visit https://abbey.ch.
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 licensing its SaaS technology and acquiring high quality cannabis datasets that greatly improve patient outcomes.
For more Company information, please visit www.cannappscorp.com, or review its profiles on www.sedar.com and on the Canadian Securities Exchange’s website www.thecse.com.
Press Contact
Phone: +1 (800) 409-5679
Email: info@cannappscorp.com
Forward-Looking Information
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.
The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy and accuracy of this information.