GCAC Closes Largest Revenue Deal for its Efixii ‘Seed to Seed’ Platform with Malta Based Medical Cannabis Cultivator
Global Cannabis Applications Corp. (CSE: APP, OTCQB: FUAPF) has signed a three-year software licensing agreement with Herb Industries Ltd. for the cultivation of 44 million grams of cannabis in 2022 and 66 million grams annually thereafter. The partnership utilizes the Citizen Green Efixii platform for compliance and consumer transparency. Revenue opportunities are significant, with projected earnings of CDN$.20 per gram plus future data sales. The EU cannabis market is expected to reach €3.2 billion by 2025, driven by consumer demand and regulatory upgrades.
- Definitive three-year licensing agreement with Herb Industries for cannabis cultivation.
- Projected revenue of CDN$.20 per gram from Efixii platform usage.
- Access to a rapidly growing EU cannabis market valued at €3.2 billion by 2025.
- None.
Phase One Efixii SaaS License for 44M Grams for the 2022 Harvest
VANCOUVER, British Columbia, April 13, 2021 (GLOBE NEWSWIRE) -- Global Cannabis Applications Corp. ("GCAC" or the "Company") (CSE: APP, FSE: 2FA, OTCQB: FUAPF), a leading medical cannabis chain-of-custody compliance, efficacy and data platform, today announced a definitive three-year software licensing agreement with Herb Industries Ltd. (“Herb”), a Malta based medical cannabis cultivator. Grams cultivated are forecast as 44M in 2022 and 66M in 2023.
GCAC is licensing its Citizen Green Efixii platform as part of Herb’s ‘technology farm’ for use in its cannabis compliance and consumer transparency. Herb’s advanced-growth-method handles all production lifecycles from genetics, cannabis nursery, onsite ISO laboratory and extraction. Licensed by the Maltese government, Herb’s 12,000 SQM facility’s manufacturing lines will export to other EU members’ markets for pharmaceutical, solids, semi solids, liquids, flowers, cosmetics and edibles.
GCAC’s Software-as-a-Service (“SaaS”) license model meets the needs of cultivators as they scale. Cannabis lifecycle steps are represented by GCAC’s Efixii QR-code which can be scanned by customs officials, regulators, medical professionals and consumers alike to ensure that products are what they claim to be. GCAC charges a one-time configuration fee of
“44M grams in 2022 and 66M grams every year thereafter is an absolutely massive revenue opportunity for us on a per gram basis” states GCAC’s CEO Brad Moore. “And, just as important is knowing that tens of thousands of EU consumers trust Efixii’s QR-codes to give them, and their families, comfort knowing what they are ingesting is the safest and best product for them, thereby cementing our efficacy commitment of better outcomes for all medical cannabis patients.”
The European cannabis market is the largest in the world, with a forecast CAGR of
All of Efixii’s cannabis data is the intellectual property (“IP”) of GCAC. This IP creates an inherent difficulty in replicating or competing with GCAC’s medical 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, marketing and acquiring innovative data technologies for the medical cannabis industry. The Citizen Green platform is the world's first end-to-end - from patient to regulator - medical cannabis data solution. It uses six core technologies: mobile applications, artificial intelligence, regtech, smart databases, blockchain and GCAC smart rewards to qualify candidates for clinical studies. These technologies facilitate the proliferation of digital conversations by like-minded people in the medical cannabis community. Driven by digital and cannabis industry experts, GCAC is focused on viral global expansion by providing the best digital experience in the cannabis market.
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).
| To schedule an interview, please contact: | For more information, please contact: |
| Bradley Moore | Corporate Communications |
| Chief Executive Officer | Telephone: +1 (800) 409-5679 |
| Email: bmoore@cannappscorp.com | 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.
FAQ
What is the significance of the licensing agreement announced by GCAC on April 13, 2021?
How much revenue can GCAC generate from its Efixii platform under the new agreement?
What are the projected cannabis cultivation amounts for Herb Industries in 2022 and 2023?
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