Vancouver, British Columbia –News Direct– Global Cannabis Applications Corp.
The Reseller & User Agreement brings Efixii’s blockchain to the US growth market
Vancouver, British Columbia, Canada – TheNewswire – June 29, 2022 – Global Cannabis Applications Corp. (“GCAC” or the “Company”) (CSE:APP), (FSE:2FA), (OTC:FUAPF), a leading blockchain-driven compliance and data platform, today announced that Bio-Sunn Technologies Inc. (“Bio-Sunn”) and GCAC have entered into a Letter of Intent (“LOI”) that will enable processor Bio-Sunn to partner with industrial and CBD hemp growers to deliver premium products on a sustainable and transparent supply chain using the software “Efixii ” and “clearESG” from the company. The final agreement must be signed by July 31, 2022.
In the LOI, Bio-Sunn states that it will process hemp for 1,000 farmers and distributors in 20 states and Canada through its production facility in North Dakota. To capture the hemp supply chain data, Bio-Sunn is acquiring a resale and usage license agreement for the company’s Efixii and clearESG software. As part of Bio-Sunn’s non-exclusive right to resell, farmers pay a QR code fee to use Efixii. A QR code is generated for agricultural certificates recorded on a blockchain. clearESG is offered to these farmers for a monthly fee to prove the sustainability reporting of the supply chain. For the processing of hemp into manufactured products, Bio-Sunn will also pay GCAC for both the use of Efixii and clearESG. The annual license fees for each farmer average USD$2,000 per year for a three-year contract with the company. US hemp production was recently estimated at USD$824 million in 2021 by the US Department of Agriculture †
CEO Bradley Moore stated: “GCAC is a true blockchain-driven supply chain app for agtech. We do three things very well: drive sales of premium products, solve supply chain problems quickly and reward great partners who make great products. latest tech stack is one of the most advanced layer two Ethereum blockchains available and incredibly robust at helping people run real businesses † This deal with Bio-Sunn is the reason we created Efixii and clearESG.”
Lewis Bauer, CEO of Bio-Sunn, said: “As an industry, we are excited to partner with a technology company that will engage rural hemp farmers in the conversation, and we will have ‘really documented farm-to-table’ stories. ”
Licensed to farmers in a SaaS model, Efixii is a free to use app for industrial hemp and cannabis users. Efixii’s cannabis data is the intellectual property (“IP”) of GCAC. This IP poses an inherent problem in replicating or competing with GCAC’s cannabis data sets. GCAC defined their protocols in a preliminary US patent application, “System of Process and Tracking Cannabis Products and Associated Method Using Blockchain,” filed with the USPTO on December 17, 2020.
About Bio-Sunn Technologies Inc.
Bio Sunn Technologies, Inc. (https://www.biosunn.com/) is a leader in the industrial hemp industry in America. Founded in 1986 (they also built the first industrial fiber plant in the US and then moved to Germany), the company has built a reputation as the company with confidence in this re-emerging industry. They will be the largest diverse raw material factory encompassing industrial hemp processing in the Northern Hemisphere.
Bio-Sunn Technologies, Inc., headquartered in Nekoma, North Dakota, with additional operations planned, is a driving force in the burgeoning industrial hemp industry. Bio Sunn Technologies, Inc. quickly bridges dynamic markets spanning value-added agriculture and highlights the fast-growing arena of industrial fiber composites.
Bio Mass Products and Services (a women-owned company) has a joint venture with Bio Sunn that has created educational fairs and new innovations. There, ESG carbon offsetting, soil regeneration and global participation with women in agriculture is leading to a new era in agriculture. Marla Rivera (CEO) said, “This will be the first industrial hemp farmer co-op of its kind in 20 states.” Based on her first Co-op in 2017, she believes hemp tracking and tracing and the clearESG component will be a historic bonus to the American farmer’s story.
About Global Cannabis Applications Corp. “GCAC”
GCAC is a global leader in designing, developing, licensing SaaS and acquiring innovative data technologies for the medical cannabis industry. The Citizen Green and Efixii platforms are the world’s first end-to-end – patient to regulator – data solutions for medical cannabis. They use six core technologies: mobile applications, artificial intelligence, RegTech, smart databases, Ethereum blockchain, and GCAC smart rewards. These technologies transparently reveal events in the cannabis storage chain, enabling patients to provide crowd-sourced data on the efficacy of medicinal cannabis. Driven by experts from the digital and cannabis industry, GCAC is focused on monetizing SaaS licensing for its technology and acquiring high-quality cannabis datasets that improve patient outcomes and become the world’s largest provider of cannabis efficacy data.
For more company information, visit www.cannappscorp.com, or view profiles at www.sedar.com and the Canadian Securities Exchange website www.thecse.com.
GCAC Press Contact
Phone: +1 (800) 409-5679
This press release may contain forward-looking information within the meaning of Canadian securities laws relating to GCAC’s business. Forward-looking information is based on certain important expectations and assumptions made by GCAC’s management. While the company’s management believes that the expectations and assumptions on which such forward-looking information is based are reasonable, no undue reliance should be placed on the forward-looking information because GCAC makes no representation that it will prove correct. Forward-looking statements in this press release are made as of the date of this press release. GCAC disclaims any intent or obligation to publicly update 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 the appropriateness and accuracy of this information and assumes no responsibility.
Check out the source version at newsdirect.com: https://newsdirect.com/news/bio-sunn-technologies-inc-signs-loi-to-provide-gcac-supply-chain-software-to-the-hemp-industry- 354703925