Vancouver, British Columbia, Canada, November 16, 2021 – Global Cannabis Applications Corp. (“GCAC” or the “Company”) (CSE: APP, FSE: 2FA, OTCQB: FUAPF), a leading medical cannabis chain-of-custody compliance and data platform company, is pleased to announce that it has been approved to be upgraded to the OTCQB market. This up-listing makes the Company’s common shares available to a larger group of U.S. investors and provides for enhanced trading liquidity.
The announcement will be posted to the Company’s News Tab on Monday, November 21, 2021, following the Company’s first day of trading on OTCQB. As per ongoing compliance requirements and in accordance with OTCQB listing standards, GCAC will file periodic reports, disclosure, and the annual OTCQB certification. The upgraded listing has important benefits for corporate investors and individual shareholders. The upgrade includes Real-Time Level 2 Quote Display on our websites and weekly OTC Market Reports summarizing the Company’s security activity.
Brad Moore, the Company’s CEO, says, “GCAC is a story worth telling to both Canadian and American investors. As we move aggressively into the U.S. cannabis markets, we are pleased to have a more efficient way to tell our awesome story to a much broader base inside the U.S. capital markets.”
Additionally, the Company’s Efixii blockchain-powered mobile application received enthusiastic reviews at October’s MJBizCon in Las Vegas. Specifically, the Company executed a Letter of Intent with EMTRI, representing over 20,000 cultivators in Northern California. The Company will provide software development and implementation services to customize Efixii technology for a one-time fee of US$500,000, plus a perpetual revenue share of EMTRI’s QR-code sales to cultivators.
Mr. Moore is a headline speaker presenting the Efixii SaaS technology at the CannabiSalud “Business Investment Summit” in Cancun, Mexico, November 18-20, 2021. Mexico is one of the world’s newest and largest legal cannabis markets.
Efixii is licensed to cultivators in a SaaS model and is a free-to-use app for cannabis consumers. All cannabis sold through the Efixii 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.
GCAC recently broadened its innovative technology suite with the launch of its web-based Prescriptii Patient Experience (PPE). The free-to-use website empowers each cannabis consumer with data to help make better choices for their personal medical needs, and improve consumer knowledge and confidence.
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.