The FINANCIAL - GCAC Announces $0.4m Deal with Europe’s Largest CBD Oil Producer

GCAC Announces $0.4m Deal with Europe’s Largest CBD Oil Producer

GCAC Announces $0.4m Deal with Europe’s Largest CBD Oil Producer

Global Cannabis Applications Corp. ("GCAC" or the "Company") (CSE: APP, FSE: 2FA, OTCQB: FUAPF), a leading medical cannabis chain-of-custody compliance and data platform, today announced it has signed a Memorandum of Understanding (“Agreement”) to supply Efixii QR Codes on the retail packaging of CBD Agrocasa (“Agrocasa”), Europe’s largest CBD producer. The Agreement is for the Efixii QR Codes to be applied to an initial retail rollout of 400 liters of CBD oil tinctures, containing approximately 2 million grams of cannabis, at a SaaS license cost of CA$0.20 per gram.

GCAC’s Efixii platform attests to a CBD products’ lifecycle, from seed to sale, and is the only cannabis data platform in the world that then acquires actual user-efficacy data on CBD consumption using its Efixii app; now available on Apple’s App Store and Google’s Play Store.

Agrocasa is the largest producer of CBD in Europe and focuses on producing the highest quality, authentic European CBD products using its Pharma-Grade EU GMP certified standard. Agrocasa has the largest managed-grow operations of Hemp inside Europe with a harvest capacity in excess of 4,000 ha. that produced approximately 24,000 liters of concentrated CBD oils in 2020.

Brad Moore, CEO of GCAC said, “We are really looking forward to showcasing the power of Efixii’s truthful cannabis pre-consumption grow-data, coupled with Efixii’s post-consumption efficacy feedback-collection with Agrocasa’s retail products. This $400k deal is for an initial run to enhance consumer confidence in Agrocasas’ products and add an amazing feedback-loop for Agrocasa to fine-tune their grows of local strains sourced from the EU Plant Variety database.”

Gabriel Luca, CEO of Agrocasa stated, “The way in which Efixii uses blockchain to ensure the truth behind cultivators’ claims of CBD content, and the simplicity of its app-approach in capturing consumer feedback, is what drew us to license Efixii. We are HACCP compliant, Novelty Food registered and EU GMP certified and now, by adding consumer efficacy to the mix, Efixii could allow us to better plan our strain cultivations based on a strains efficacy in a given market vertical.”

Subject to a successful collection of efficacy data in the initial 400 liter run, both parties agree to work in good faith to expand the commercial use of Efixii across Agrocasa’s harvests in the future.

GCAC’s cannabis data is the intellectual property (“IP”) of GCAC. The IP creates an inherent difficulty in replicating, or directly competing with GCAC’s medical cannabis datasets. GCAC defined their protocols in a provisional patent application, ‘System of Process and Tracking Cannabis Products and Associated Method Using Blockchain’ as filed with the U.S. Patent and Trademark Office on December 17, 2020.

Author: The FINANCIAL

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