Suppliers to the GCAC cannabis web shop now pre-fund grows using decentralized finance
Vancouver, British Columbia, Canada – TheNewswire - July 20, 2021 – Global Cannabis Applications Corp. ("GCAC" or the "Company") (CSE:APP) (FSE:2FA) (OTC:FUAPF) (CNSX:APP.CN), a leading medical cannabis chain-of-custody compliance and data platform, announced today that it will fund cannabis growers that license the Company’s Efixii cannabis Seed2Seed blockchain software.
Efixii licensees can now apply to pre-finance their cannabis cultivations. To qualify for financing, first, the growers must license and track all cultivation events using the Efixii blockchain software [1] and, second growers grant GCAC the right to sell their cannabis batch from the Company’s upcoming web shop, as licensed under Health Canada’s Non-Possession Selling License [2].
Grow-funding is risk-free, does not have to be repaid, and is paid in Canadian Dollars using a Uniswap decentralized finance ‘defi’ token offering to the crypto community. Initially, funding will be for a grow-cost of $1.70 [4] per gram for a disclosed number of grams, with a funding range of $35,000 to $175,000. GCAC will sell the cannabis in its web shop at a prevailing retail price range of $8-$12 [3]. The defi offering closes once the funding target is reached, and as the grow progresses, Efixii informs the investors of each step of the grow and onward GCAC sales.
A $136,000 funding example; for an 80kg grow of 500 plants in a 4,000 square foot warehouse, yielding $680,000 in retail sales at $8.50/gram [3], is distributed from GCAC revenues in the following order:
1st $272,000 In Uniswap token-buybacks (yielding the crypto investor a 2x return)
2nd $136,000 Cultivator profit from cannabis sales (on top of the $136,000 in defi funding)
3rd $272,000 GCAC retail sales revenue (a lower retail sales price would reduce GCAG returns)
Company has already built a community of over 300 defi crypto investors [6] using the GCAC token [7] and believes that the crypto community is an excellent target audience to finance licensed cannabis cultivators as this key demographic are consumers that have disposable income, are under 34 years old and increasingly drawn to the use of cannabis products [5].
Brad Moore, CEO said “As we expand our reach within the licensed cannabis community here in Canada, we are seen by more and more cultivators as not just innovators, but also as a trusted service provider. So, as we continue to innovate and strive to collect truthful cannabis efficacy data with our vision of becoming the Google of Cannabis, we believe that financing small and medium cultivators really helps the community at large and brings our vision even closer.”
The cannabis cultivator tokens are built and operated by Abbey Technology in Switzerland:
. Offering a bespoke Uniswap token per cultivator-batch with a set ‘funding target’
. Advance-notice of the ‘intent to redeem’ Uniswap liquidity-pool to finance the grow
. Advance-notice of the ‘intent to buyback’ cultivator-batch tokens pursuant to GCAC sales
[1] https://citizengreen.io/
[2] https://www.canada.ca/en/health-canada/services/drugs-medication/cannabis/industry-licensees-applicants/licensed-cultivators-processors-sellers.html
[3] http://budzu.com/prices/ca
[4] https://cannabusinessplans.ca/much-cost-grow-cannabis-indoor/
[5] https://www.warc.com/newsandopinion/news/40_of_us_consumers_would_try_out_cbd_products/41878
[6] https://etherscan.io/token/0xc0ba6eee30932c18e6cd19f433fe84186500148a#balances and https://bscscan.com/token/0x3a3ee21157906a17ee9775d37e7a8cb3d7df86d6#balances
[7] https://cannappscorp.com/uniswap/
About Global Cannabis Applications Corp. “GCAC”
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.
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.
About Abbey Technology GmbH, “Abbey”
Abbey, a Swiss company, specializes in developing, licensing and operating innovative blockchain technologies. It has invented a decentralized finance marketing platform alongside its Ethereum layer-2 high-throughput blockchain software-as-a-service. For information visit https://abbey.ch.
Press Contact
Phone: +1 (800) 409-5679
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.
Copyright (c) 2021 TheNewswire - All rights reserved.
