Vancouver, British Columbia, Canada, September 7, 2021 – Global Cannabis Applications Corp. ("GCAC" or the "Company") (CSE: APP, FSE: 2FA, OTCQB: FUAPF), announced the formal approval of the Efixii blockchain-based cannabis compliance technology by the Israel government for its commercial use in cannabis cultivation research for Israeli cultivators.
Bless Cultivation’s approval from the Israeli Medical Cannabis Unit ("Yakar") to formally research the “production capacity of cuttings from a mother plant, without creating a stressful situation for the source plant, as a function of time.” A prerequisite of the approved research methodology is the Bless Cultivation mandate to use GCAC’s Efixii blockchain-based mobile app for managing, recording, and delivering reliable insights across all the study periods. The Efixii methodology has been shown to yield better patient outcomes when its ultra-reliable data is used.
Nadav Segal, Bless Founder and VP of R&D, says “Understanding production capacity of cuttings from a mother plant without stressing the plant will help us develop improved product consistency. Efixii is the only service with the power to record and thoroughly analyse this process – all with complete blockchain transparency. This helped us secure approval from the regulator as they are confident in the tamper-proof data Efixii provides.”
The Company’s blockchain-based Efixii mobile app securely logs all data attestations to the blockchain for full transparency. GCAC’s artificial intelligence and deep learning algorithms yield important data insights for government research initiatives and help develop a better understanding of cultivation principles. This approval allows Bless Cultivation, and others, to immediately commence cultivation without waiting to complete the physical site development (security systems, etc.) thereby lowering the funding burden for cultivation commencement.
GCAC CEO Brad Moore notes that “Bless mandating the use of our Efixii technology again demonstrates how blockchain-based solutions are becoming the gold standard for regulatory data analysis in the medical cannabis industry. Government alignment is a key commercial element of our business model as it drives growers to use our best-in-class technology for their cultivations.
GCAC 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.
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.