BYND Cannasoft Enterprises Inc. Signs Agreement for the Acquisition of Israeli-Based Zigi Carmel Initiatives & Investments Ltd. In a Share Swap Agreement Valued at US $28 Million
Ryan Allway
September 19th, 2022
Top Story
BYND Cannasoft Enterprises Inc. (NASDAQ: BCAN) (CSE: BYND) (“BYND” or the “Company”) announced today that it has signed a share purchase agreement to acquire 100% ownership of Zigi Carmel Initiatives & Investments Ltd. (“ZC”) which holds the patent pending intellectual property for a therapeutic device (the “EZ-G device”) that uses low concentrations of CBD oils, such as hemp seed oil and other natural oils, to treat certain women’s health issues. Under the terms of the share purchase agreement, the Company will issue to ZC’s owner 7,920,000 common shares at a deemed price per share of $4.735 (subject to closing the transaction by October 10, 2022) and pay US $100,000 to cover his legal expenses. The closing of the transaction is subject to certain customary conditions. BYND expects the transaction to close this month.
The EZ-G device is a unique, patent-pending device that, combined with proprietary software (provisional application), regulates the flow of low-concentration CBD oils into the soft tissues of the female reproductive system. According to research1 conducted across the globe, treatment with low-concentration CBD oils can relieve candida, dryness, scars, and many other female health issues.
BYND intends to pursue the final registration of the patent and establish a marketing and sales system for the EZ-G device. The Company’s ‘Go to Market’ strategic plan is based on combined B2B and B2C sales. Numerous studies have shown CBD interacts with the endocannabinoid system, a master regulatory system with receptors all around the body. By activating these receptors, CBD can have health benefits that help make sex more approachable and pleasurable by reducing stress, enhancing one’s mood, promoting body comfort, and treating vaginal issues. According to the Brightfield Group, a cannabis industry data research firm, sales of CBD products could reach $11 billion2 by 2027. A recent Zion Market Research study3 indicates the market size of global gynecology devices was worth $10.8 billion in 2021 and is estimated to exceed $19.5 billion by 2028 with a compound annual growth rate (CAGR) of approximately 10.3 percent.
No regulatory filings relating to the device have been made in the United States and the Company has no intention of marketing the device in any jurisdiction until it has been cleared by the applicable regulator, including the Food and Drug Administration in the United States.
Yftah Ben Yaackov, CEO and a Director of BYND, said, “From the moment we complete the purchase of ZC, we plan to hit the ground running by initially securing any required regulatory approval from the appropriate authorities. We will continue to pursue the registration of the patent, which contain over 100 claims, prototype production and start validation tests, and contract with suppliers for the production of the device and the oils used in the EZ-G device.
“The demand for a unique device combined with software, such as the EZ-G device, stems from the increasing occurrence of chronic conditions and the rising adoption of self-health management. Using a device at home is a very cost-effective treatment, and it opens up a vast channel for millions of women.” Mr. Ben Yaackov continued, “We hope to use the knowledge we have gained in the medical cannabis field to significantly improve the quality of life of women suffering from symptoms such as those mentioned above.”
About BYND Cannasoft Enterprises Inc.
BYND is an integrated software/cannabis company, based in Israel.
CRM Software
BYND owns and markets a proprietary customer relationship management (CRM) software product, known as “Benefit CRM”. BYND’s Benefit CRM software enables small and medium‐sized businesses to optimize their day‐to‐day business activities such as sales management, personnel management, marketing, call center activities and asset management. BYND’s next-generation Benefit CRM platform is now ready for BETA testing.
Cannabis CRM
Building on its 20 years of experience in CRM software, BYND has recently begun development of an innovative new CRM platform, designed specifically to serve the needs of the medical cannabis industry. This new platform will be the first of its kind for the medical cannabis field and the Company is confident it will transform the industry into a more organized, accessible, and price transparent market. Data and information collected through the operation of the Cannabis Farm (see below) and the products it produces will allow BYND to test its new Cannabis CRM platform and adjust the platform as necessary. Additionally, operating the Cannabis Farm and selling medical cannabis will bring in additional revenue to further support BYND during the initial roll‐out years of its cannabis CRM platform.
Cannabis Farm
BYND is in the process of securing approval for the transfer of a primary growing license for growing medical cannabis in Israel and intends to construct a 3.7 acre farm facility near Ashkelon Israel, to grow medical cannabis. The Company’s plans include the construction of 4 state of the art greenhouses, housing approximately 2.5 acres of total growing area. BYND estimates that once fully operational its Cannabis farm facility will be able to produce 7,500kg of raw cannabis each year. BYND also intends to work with strategic partners to develop and market new, proprietary cannabis-infused products for sale throughout Israel and for export. For Further Information please refer to the information available on the Company’s website: www.cannasoft‐crm.com, the CSE’s website: www.thecse.com/en/listings/life‐sciences/bynd‐cannasoft‐enterprises‐inc and on SEDAR: www.sedar.com.
Gabi Kabazo
Chief Financial Officer
Tel: (604) 833‐6820
e‐mail: ir@cannasoft‐crm.com
For Media and Investor Relations, please contact:
David L. Kugelman
(866) 692-6847 Toll Free – U.S. & Canada
(404) 281-8556 Mobile and WhatsApp
dk@atlcp.com
Skype: kugsusa
BYND Cannasoft Press Release‐ September 19, 2022.
Cautionary Note Regarding Forward‐Looking Statements
This Press Release contains forward‐looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions are intended to identify forward‐looking statements. Forward-looking statements in this press release include, without limitation, the expectation that BYND’s acquisition of ZC will complete this month, that the patents for the EZ-G device for which application has been made will be issued and will cover all markets in which it is intended that the EZ-G device will be sold, and that all necessary regulatory approvals to the sale of the EZ-G device will be obtained in a timely manner. Such statements reflect our current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities and the U.S. Securities and Exchange Commission. Should one or more of these risks and uncertainties, such as currency and interest rate fluctuations, increased competition, and general economic and market factors, occur or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward‐looking statements, except as required by law. Shareholders are cautioned not to put undue reliance on such forward‐looking statements.
Neither the U.S. Securities and Exchange Commission nor the CSE has reviewed, approved or disapproved the content of this press release.
1 https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7924206/
This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.
About Ryan Allway
Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.
Search CannabisFN
Press Coverage
Psychedelics Index
Top Videos
Alan Brochstein’s 420 Investor is the go-to community for investors to learn, explore, and profit from the marijuana companies. The main goal of 420 Investor is to provide real-time, objective information about the top marijuana companies in the market in order to help investors capitalize on cannabis.
Technical420 is the premier provider of research and analysis on cannabis stocks. We provide investors with sponsored and non-sponsored information on the volatile and emerging cannabis industry. “Our research is our passion!” Your profit is our reward!
ManifestSeven (M7), formerly known as MJIC, is the first integrated omnichannel platform for legal cannabis, merging compliant distribution with a retail superhighway.
Red White & Bloom Inc. (CSE: RWB) is positioning itself to be one of the top three multi-state cannabis operators active in the U.S. legal cannabis and hemp sector.
Network Partners
About CFN Media Group
CFN Enterprises Inc. (OTCQB: CNFN) owns and operates CFN Media Group, the premier agency and financial media network reaching executives, entrepreneurs and consumers worldwide. Through its proprietary content creation, video library, and distribution via www.CannabisFN.com, CFN has built an extensive database of cannabis interest, assisting many of the world’s largest cannabis firms and CBD brands to build awareness and thrive. For more information, please visit www.cfnenterprisesinc.com.
Disclaimer: Matters discussed on this website contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. CFN Media Group, which owns CannabisFN, is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. CFN Media Group, which owns CannabisFN, may from time-to-time have a position in the securities mentioned herein and will increase or decrease such positions without notice. The Information contains forward-looking statements, i.e. statements or discussions that constitute predictions, expectations, beliefs, plans, estimates, or projections as indicated by such words as "expects", "will", "anticipates", and "estimates"; therefore, you should proceed with extreme caution in relying upon such statements and conduct a full investigation of the Information and the Profiled Issuer as well as any such forward-looking statements. Any forward looking statements we make in the Information are limited to the time period in which they are made, and we do not undertake to update forward looking statements that may change at any time; The Information is presented only as a brief "snapshot" of the Profiled Issuer and should only be used, at most, and if at all, as a starting point for you to conduct a thorough investigation of the Profiled Issuer and its securities and to consult your financial, legal or other adviser(s) and avail yourself of the filings and information that may be accessed at www.sec.gov, www.pinksheets.com, www.otcmarkets.com or other electronic sources, including: (a) reviewing SEC periodic reports (Forms 10-Q and 10-K), reports of material events (Form 8-K), insider reports (Forms 3, 4, 5 and Schedule 13D); (b) reviewing Information and Disclosure Statements and unaudited financial reports filed with the Pink Sheets or www.otcmarkets.com; (c) obtaining and reviewing publicly available information contained in commonlyknown search engines such as Google; and (d) consulting investment guides at www.sec.gov and www.finra.com. You should always be cognizant that the Profiled Issuers may not be current in their reporting obligations with the SEC and OTCMarkets and/or have negative signs at www.otcmarkets.com (See section below titled "Risks Related to the Profiled Issuers, which provides additional information pertaining thereto). For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity-based compensation in the companies it writes about, or a combination of the two. For full disclosure, please visit: https://www.cannabisfn.com/legal-disclaimer/. A short time after we acquire the securities of the foregoing company, we may publish the (favorable) information about the issuer referenced above advising others, including you, to purchase; and while doing so, we may sell the securities we acquired. In addition, a third-party shareholder compensating us may sell his or her shares of the issuer while we are publishing favorable information about the issuer. Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. CFN Media Group, which owns CannabisFN, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. CFN Media Group, which owns CannabisFN, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two. For full disclosure please visit: https://www.cannabisfn.com/legal-disclaimer/.
Copyright © Accelerize Inc. · All Rights Reserved · Privacy Policy · Legal Disclaimer
