Mr. Michael Martinz reports

KANEH BOSM BIOTECHNOLOGY (KBB:CSE) SELLS BIOCANNA ADM AUTOMATED CANNABIS RETAIL SYSTEM

Kaneh Bosm Biotechnology Inc. has sold one of its ADM kiosks that was originally contracted to Medsmart Dispensary Inc. The system was sold for $39,121 (U.S.) (approximately $52,000).

After rigorous testing and fine-tuning of the BioCanna automatic dispensing machine (ADM), Kaneh Bosm is very pleased with the final result, which has resulted in a sale of the automated cannabis retail system.

The company continues to receive numerous expressions of interest for its BioCanna ADM system, and it is exploring the opportunities for additional revenue through kiosk sales and also via selling territories by state or province to assist in growing this division more rapidly. The company is optimistic of the possibilities over the next year.

The market for cannabis products is growing exponentially as new states and countries open up. The BioCanna ADM automated retail system is a valuable tool for retailers to control product access and as a labour-saving device.

With proposed new strict regulations coming to the Vancouver marijuana dispensary market, the BioCanna ADM offers cannabis retailers a means to meet and surpass regulated requirements. The BioCanna ADM retail system is unique in this sector as it encompasses the five crucial elements identified by retired Major Neill Franklin, executive director for LEAP, for safe, reliable and successful automated cannabis retail. Those elements are:

• Access control (no minors or unprescribed patients);
• Purchase volume control (monthly or daily quantity limits);
• Secure storage of product (climate controlled and theft proof);
• Transactional oversight by regulators via software monitoring;
• A proven record in a controlled substance/products environment.

The BioCanna ADM system is now available to cannabis retailers with a number of flexible programs with varying lease rates and transaction fees. The kiosks will also be available for purchase for a limited time.

The superior BioCanna ADM retail system is European based, designed and manufactured. Presently, there are more than 2,000 units operating across Western Europe, with many in the retail pharmaceutical dispensing marketplace. The kiosks are proven to be reliable and profitable. Marijuana vending machines have already been proven to be highly profitable in the Vancouver cannabis dispensary market. Last June, the B.C. Pain Society (BCPS) installed vending machines at its Commercial Drive location and Chuck Varabioff, a director at BCPS, said, "It has grossed more than $1-million since he set it up last May."

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