GCAC signs MOU with TheraCann and TKS Ventures Joint Venture
April 9, 2018 (Source) — Global Cannabis Applications Corp. (“GCAC” or the “Company”) (CSE:APP, FSE:2FA, OTCQB:FUAPF), a leading developer of innovative data technologies for the cannabis industry, is pleased to announce that it has signed a Memorandum of Understanding (MOU) with One System One Solution (“OS2”) a joint venture of TheraCann International Benchmark Corporation (“TheraCann”) and TKS Ventures dba The Tokes Platform (“TKS”), to establish the infrastructure, technology and services required to create a sustainable supply chain and ecosystem for the cannabis industry. The parties will combine resources to provide software and services comprising a total solution for cultivators, distributors, medical patients & practitioners and regulators.
OS2 is building the world’s first fully integrated genetics-to-patient (fully seed-to-sale) Enterprise Relational Software Program (“ERP”), market place, commodity exchange & financial transaction compliance suite fully integrated with a blockchain. The ERP, previously known as the TheraCannSYSTEM, has been deployed as a Web based solution to support vertically integrated industrial cannabis cultivation, processing, packaging, quality assurance, and secure facilities around the world for over 5 years. Current client engagements include locations in Europe, North and South America and Australia. TKS Ventures owns and operates the Tokes Platform, a crypto-asset built on the WAVES blockchain that serves as a means for cannabis businesses to conduct commercial transactions.
OS2 will contribute the ERP (ISO 17025, 2005) and Safe Quality Food compliant Web based software. TKS will contribute expertise and talent related to cryptocurrency economic modelling, and access to the TKS Payment Gateway. TheraCann International will also contribute access and utilization of its patented Bio-Tagging tracking technology. GCAC will contribute its strain specific user and patient feedback, registry database, mobile applications, digital reward system for collecting user and clinical data and artificial intelligence algorithms.
“TheraCann has been providing our ERP solution to Cannabis cultivators around the world for 5 years, helping them improve return on investment, streamline cultivation and processing, improve quality and comply with local regulations, we partnered with TKS to add a cryptocurrency payment solution and full blockchain integration and are now developing a biometric tracking technology,” said Richard Goodman, President of OS2. “This MOU with GCAC adds the critical expertise and technology in collecting and using clinical and patient data with a cryptocurrency reward system.”
“Working with OS2 will accelerate the development of the Citizen Green Community. Together we will establish competitive advantages that position us to be the leader in providing a total solution to the growing global cannabis industry,” said Brad Moore, CEO of GCAC. “The MOU combined with our recently closed financing and addition of partners in the cryptocurrency space, provides GCAC with critical resources to implement our plans.”
About TheraCann International Benchmark Corporation
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Founded in 2004, TheraCann International Benchmark Corporation offers a one-stop, full-service solution for the International cannabis marketplace. TheraCann provides business, technology and industry experts who apply advanced technology and help clients design, build and run their cannabis businesses. With nearly 3.5 million square feet of cannabis operations under management by 2019 and the successful launch of ground-breaking Enterprise Resource Planning (ERP) software, Aeroponic cultivation systems and patented genetic tracking and diversion prevention systems, TheraCann provides cannabis-related businesses with solutions to fit their regulatory requirements. More information about TheraCann is available at www.theracanncorp.com.
About Tokes Platform
The Tokes Platform is a digital currency and software development company focused on the legal cannabis industry. Tokes’ core initiatives include a blockchain-based e-payment solutions, industry agnostic point-of-sale software, as well as compliance and provenance management through a dedicated ERP seed-to-sale application. The ERP enables external developer integration through a modular design and improves regulatory compliance through transparency of payments and supply chain management. More details about the company available at www.tokesplatform.org
About Global Cannabis Applications Corp.
Global Cannabis Applications Corp. is a global leader in designing, developing, marketing and acquiring innovative data technologies for the cannabis industry. The Citizen Green platform is the world’s first end-to-end – from patient to regulator – medical cannabis data solution. It uses six core technologies: mobile applications, artificial intelligence, regtech, smart databases, blockchain and digital reward tokens, to qualify candidates for clinical studies. These technologies facilitate the proliferation of digital conversations by like-minded people in the medical cannabis community. Managed by digital and cannabis industry experts, GCAC is focused on viral global expansion by providing the best digital experience in the cannabis market.
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.
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