Citizen Green Medical Cannabis Data-Acquisition Platform Goes Live with the Signing of a 3-Year SaaS Licensing Deal
Vancouver, British Columbia, Canada, October 14, 2020 – Global Cannabis Applications Corp. ("GCAC" or the "Company") (CSE: APP, FSE: 2FA, OTCQB: FUAPF), a leading commercial licensor of proprietary Data and AI technologies to the medical cannabis industry, today announced a definitive three-year software licensing deal with Bless Cultivation Ltd. (“Bless”), an Israeli based medical cannabis cultivator. This licensing agreement marks GCAC first sales revenue for Citizen Green since announcing its launch on September 3, 2020.
GCAC’s Cultivator Software-as-a-Service (“SaaS”) license enables growers’ staff to record all events for medical cannabis cultivations, including mother plant, laboratory tests, shipment and customs controls. The Citizen Green blockchain technology ensures the integrity of a grower’s data for regulators and, ultimately, for consumers to rely upon.
Using Citizen Green, Bless can track and trace its 350,000 grams per annum cannabis cultivations throughout its Ramat Ha’golan facility. The software license is structured in three parts: 1. One-time payment of US$12,500 to configure the Bless cultivator inside Citizen Green 2. Recurring monthly SaaS fee of US$499 3. A recurring fee of US$75 per medical cannabis shipment and or product that Bless requires formal blockchain attestations for regulatory or export and customs compliance 4. A recurring fee of USD$50 per registered users per month for on going KYC/AML compliance checks.
As of May 2020, 7,840,577 packaged units of cannabis have been sold across Canada for medical and non-medical purposes1 . GCAC wants to put its QR code story on every such package. This QR code allows cannabis consumers to know the origin of their cannabis, along with its entire chain-of-custody history. Attracting cultivators is the first stage of the process to bring all cannabis participants into the Citizen Green fold. The network effect of cultivators bringing in laboratories and distributors has to the potential to drive exponential SaaS revenues for Citizen Green.
Bless Founder and VP R&D, Nadav Segal “We selected Citizen Green because it is the only viable technology we tested that can demonstrate that our products are regulatory complaint. We’re using its compliance lifecycle storytelling to deliver product-transparency to customs officials, distributors and consumers alike. I fully expect Citizen Green to speed up our seed-to-sale cycles, increase consumer confidence in our products and to lower our compliance costs.”
“Now that our cannabis track and trace software is in production, I’m really looking forward to working with medical cannabis cultivators around the world, especially in Israel and here at home in Canada” says Brad Moore, CEO of GCAC. “Our financial model is that as our cultivator’s business grows, then our Cultivator SaaS revenues grow too. Added to this, I expect a significant network-effect with our SaaS approach,since all distributors downstream from our cultivators may also want contribute to a consumers cannabis lifecycle story by licensing our service.”