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Global Cannabis Applications Corp
Symbol APP
Shares Issued 180,152,483
Close 2022-01-31 C$ 0.055
Market Cap C$ 9,908,387
Recent Sedar Documents

Global Cannabis receives pot licence from Health Canada

2022-02-01 10:03 ET - News Release

Mr. Brad Moore reports

GCAC AWARDED LICENSE TO OPERATE AS MEDICAL CANNABIS RETAILER

Global Cannabis Applications Corp. has been approved as a sale for medical purposes (without possession) licence holder by Health Canada under the Cannabis Act. Global Cannabis will operate Canada's first medical cannabis on-line retail store that uses blockchain technology on a per batch basis to safely and reliably deliver medical cannabis treatments.

Global Cannabis provides a unique and engaging retail experience with blockchain truths underpinning the provenance, quality and accuracy of potency disclosures of medical cannabis. The store expects to provide a wide selection of therapeutic products for patients, including the company's own line of branded cannabis, as well as a comprehensive offering of medical cannabis, including whole flower, oils, vapes and prerolls, all offered with patient health and well-being in mind.

Unique to Global Cannabis, patients may anonymously provide efficacy feedback on cannabis treatments using the Efixii app, thereby helping to improve the health of others in the Efixii community.

"We applied for our licence last year and have since worked with Health Canada to meet the strict conditions of such an incredible responsibility. In parallel, we've been working with some amazing microcultivators during the pandemic, and while challenging, it has helped us to better learn of the environmental concerns in the cannabis space. We believe consumers want to know about the environmental, social and governance policies that cultivators follow, and we listened, invested, and upgraded Efixii to allow our cultivators to tell their ESG story before the launch of our retail store," says Global Cannabis's chief executive officer, Brad Moore.

The addressable market for Global Cannabis's medical cannabis sales in Canada is $2-billion, which comprises 292,000 registered patients, consuming an average of two grams a day each, with an average price of $9.81 gram. In addition, Global Cannabis is the only national vendor to demonstrate the entire life cycle of each plant consumed which gives patients much comfort in their treatment.

Efixii is licensed to cultivators in a software-as-a-service model and is a free-to-use app for cannabis consumers. Cannabis sold through the licensed Global Cannabis portal generates sustainable revenues. Efixii's cannabis data is the intellectual property of Global Cannabis. This intellectual property creates an inherent difficulty in replicating or competing with Global Cannabis's cannabis sales and datasets. Global Cannabis defined their protocols in a provisional United States 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 holds a Health Canada medical cannabis sales licence and 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 sales and data solutions. They use six core technologies: mobile applications, artificial intelligence, RegTech, smart databases, Ethereum blockchain and Global Cannabis 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, Global Cannabis generates revenues from medical cannabis sales, SaaS technology licencing and the sale of high-quality cannabis datasets. Global Cannabis will become the world's largest cannabis efficacy data provider by using technology to improve patient outcomes.

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