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BYND Cannasoft Enterprises Inc. has signed an agreement to acquire Israel-based Zigi Carmel Initiatives & Investments Ltd. and entered into a share exchange agreement worth US$28 million. The Canadian Business Journal

VANCOUVER, British Columbia, September 18, 2022 (GLOBE NEWSWIRE) — BYND Cannasoft Enterprises Inc. (NASDAQ: BCAN) (CSE: BYND) (“BYND” or “Company”) today announced that Zigi Carmel Initiatives & Investments Ltd. (“ZC”) holds patent-pending intellectual property for therapeutic devices (“EZ-G device) We use low-concentration CBD oils, such as hemp seed oil and other natural oils, to treat certain women’s health issues. 7,920,000 shares of common stock will be issued at a deemed price of $4.735 per share (subject to the closing of the transaction by October 10, 2022) and will pay US$100,000 to cover his legal costs. Certain customary conditions apply to the closing of the transaction. BYND expects the transaction to close later this month.

The EZ-G device is a unique patent-pending device that, in combination with proprietary software (provisional application), regulates the flow of low-concentration CBD oil into the soft tissues of the female reproductive system.According to research1 Low-concentration CBD oil treatments practiced around the world can alleviate candida, dryness, scars, and many other women’s health problems.

BYND will proceed with the final registration of the patent and establish a marketing and sales system for EZ-G devices. The company’s “Go to Market” strategic plan combines B2B and B2C sales. Numerous studies have shown that CBD interacts with the endocannabinoid system. By activating these receptors, CBD can help make sex more approachable and enjoyable by reducing stress, enhancing mood, promoting body comfort, and treating vaginal problems. You can get helpful health benefits. Sales of CBD products could reach $11 billion, according to the Brightfield Group, a cannabis industry data research firm.2 By 2027.A recent Zion Market Research survey3 estimates that the global gynecological devices market is 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%. is showing.

There have been no regulatory submissions related to this device in the United States, and we do not intend to market the device in any jurisdiction pending approval by applicable regulatory agencies, including the Food and Drug Administration in the United States. There is none.

Yftah Ben Yaackov, CEO and Director of BYND, said: The company continues to pursue patent registrations containing over 100 claims, manufacturing prototypes, initiating validation tests, and contracts with suppliers for the production of equipment and the oil used in his EZ-G equipment.

“The demand for proprietary devices combined with software, such as the EZ-G device, is due to the rising incidence of chronic diseases and the increasing adoption of self-health management. It’s a highly effective treatment that opens up a vast channel to millions of women.” We want to significantly improve the quality of life for women who suffer from

About BYND Cannasoft Enterprises Inc.

BYND is an integrated software/cannabis company based in Israel.

CRM software

BYND owns and sells its own Customer Relationship Management (CRM) software product known as “Benefit CRM”. BYND’s Benefit CRM software enables small businesses to optimize their daily operations such as sales management, human resource management, marketing, call center activities and asset management. BYND’s next-generation Benefit CRM platform is now ready for beta testing.

Cannabis CRM

Based on 20 years of experience in CRM software, BYND recently started developing a revolutionary new CRM platform specifically designed to serve the needs of the medical cannabis industry. This new platform is a first in the medical cannabis space and we believe it will transform the industry into a more organized, accessible and price transparent marketplace. The data and information collected through the operation of the Cannabis Farm (see below) and the products it produces will allow BYND to test the new Cannabis CRM Platform and adjust the Platform as necessary. Additionally, operating a cannabis farm and selling medical cannabis will provide additional revenue to further support BYND during the initial rollout period of the Cannabis CRM platform.

cannabis farm

BYND is in the process of securing approval for the transfer of a primary cultivation license to grow medical cannabis in Israel and plans to build a 3.7-acre farm facility near Ashkelon Israel to grow medical cannabis. is. The company’s plans include the construction of four state-of-the-art greenhouses housing approximately 2.5 acres of total growing area. BYND estimates that once the cannabis farm facility is fully operational, it can produce 7,500kg of raw cannabis each year. BYND will also work with strategic partners to develop and market new proprietary cannabis-infused products for sale and export throughout Israel. For more information, visit our website: www.cannasoft-crm.com, CSE’s website: www.thecse.com/en/listings/life-sciences/bynd-cannasoft-enterprises-inc, and available at SEDAR See info. : www.sedar.com.

Gabi Cabazo
CFO
Phone: (604) 833‐6820
Email: [email protected]-crm.com

For media and investor information, please contact:

David L. Kugelman
(866) 692-6847 Toll Free – USA and Canada
(404) 281-8556 Mobile and WhatsApp
[email protected]
Skype: Kugusa

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, and actual results may differ materially from those described. As used in this document, “may”, “could”, “could”, “will”, “intend”, “plan”, “forecast”, “believe ”, “estimate”, “expect” and similar expressions are intended to identify forward-looking statements. The forward-looking statements in this press release state that BYND’s acquisition of ZC will close later this month, and that the patent for the EZ-G device filed will be issued, covering all targeted markets. including but not limited to. It is intended that the EZ-G device will be marketed and that all regulatory approvals required for marketing the EZ-G device will be obtained in a timely manner. Such statements reflect our current views regarding future events and are subject to such risks and uncertainties. Many factors could cause actual results to differ materially from the published statements, including factors discussed in filings with Canadian securities regulators and the U.S. Securities and Exchange Commission. If one or more of these risks and uncertainties, such as fluctuations in currency or interest rates, increased competition or general economic or market factors, occurs, or the assumptions underlying the forward-looking statements are not correct, If not, actual results could differ materially from those stated herein. Intended, planned, anticipated, or expected. We disclaim any intention or obligation to update these forward-looking statements, except as required by law. Shareholders are cautioned not to place undue reliance on such forward-looking statements.

Neither the US Securities and Exchange Commission nor the CSE have confirmed, approved or disapproved of the contents of this press release.


1https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7924206/

2https://www.cannabisbusinesstimes.com/article/brightfield-group-estimates-us-cbd-market-growth-dependent-fda-guidance/

3https://www.prnewswire.com/news-releases/statistics-on-gynecology-devices-market-size–share-worth-over-usd-19501-20-million-by-2028–exhibit-a-cagr- of-10-30-industry-trends-demand-value-analysis–forecast-report-by-zion-market-research-301601656.html


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BYND Cannasoft Enterprises Inc. has signed an agreement to acquire Israel-based Zigi Carmel Initiatives & Investments Ltd. and entered into a share exchange agreement worth US$28 million. The Canadian Business Journal

Source link BYND Cannasoft Enterprises Inc. has signed an agreement to acquire Israel-based Zigi Carmel Initiatives & Investments Ltd. and entered into a share exchange agreement worth US$28 million. The Canadian Business Journal

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