Ashkelon, Israel and Vancouver, British Columbia, December 1, 2022 (GLOBE NEWSWIRE) — BYND Cannasoft Enterprises Inc. (Nasdaq: B.can) (CSE: BYND) (“BYND canna soft” or “Company) today announced a patent application for its EZ-G device, which includes an innovative double-sided condom design. Double-sided condoms are designed to help treat a variety of problems related to intimate relationships, making the sexual experience more enjoyable for everyone involved.
BYND Cannasoft plans to design a double-faced condom that increases the use of protective equipment during sexual activity and reduces the number of sexually transmitted infections while increasing pleasure and comfort. According to the patent application, the condom has double pockets containing lubricant that is evenly released during use. The advantage of this type of condom is that the lubricant can be diluted with a low concentration of natural oils such as CBD. The oil is evenly distributed and designed to reduce the difficulties of intimate relationships and increase the pleasure of both partners.
Post COVID-19, the condom market is expected to grow by more than USD 4 billion from 2021 to 2026, and the market growth momentum is expected to accelerate at a CAGR of 9.31%. Demand for condoms is increasing from both male and female consumers, and increasing competition in the market has led vendors to aggressively focus on improving their research and development operations. We also focus on differentiating ourselves from our competitors by offering condoms of different sizes, textures and materials.
Yftah Ben Yaackov, CEO and Director of BYND Cannasoft, said: If the patent application is successfully prosecuted, the global condom market will be fragmented but grow significantly. Many large vendors choose to acquire small and medium-sized vendors to increase their revenue share in the market. We will keep our shareholders updated on this new development. ”
about BYND Cannasoft Enterprises Inc.
BYND is an Israel-based software and cannabis integration company.
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 resources management, marketing, call center activities and asset management. BYND’s next-generation Benefit CRM platform is now ready for beta testing.
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 bring in additional revenue to further support BYND in the first year of the Cannabis CRM platform rollout.
medical cannabis business
BYND has received initial approval from the Israeli Ministry of Health’s Medical Cannabis Division for a contactless business license that allows for the trading of medical cannabis products without physical contact. This is a unique license held only by a limited number of companies in Israel. The company is in the final stages of obtaining a full license and will soon begin producing its own brand of products and strains through its licensed medical cannabis farms. Products are manufactured for us and sold to pharmacies, while producers are paid commissions for the cultivation and processing of substances. Once licensed in the coming months, we expect to be able to sell the product quickly, capture significant market share, and generate significant profits.
For more information Please refer to the information available on our website. www.cannasoft-crm.comthe CSE website: www.thecse.com/en/listings/life-sciences/bynd-cannasoft-enterprises-inc And in SEDAR: www.sedar.com.
Phone: (604) 833-6820
Email: [email protected]
For media and investor information, please contact:
David L. Kugelman
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(404) 281-8556 Mobile and WhatsApp
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. Forward-looking statements in this press release include the expectation that the company will obtain approval for its extended EZ-G patent application, the expected benefits of the double-faced condom design for users, and the expected added value creation for BYND. including but not limited to. Cannasoft, and the condom market are expected to grow in size. Additional regulatory standards may be required. This includes FDA approval or other approval for the manufacture, marketing, and sale of devices under therapeutic indications. There can be no certainty that the foregoing approvals will be obtained and all information below is forward-looking. Such statements reflect our current views regarding future events and are subject to such risks and uncertainties. A number of factors could cause actual results to differ materially from the published statements. This includes unforeseen regulatory requests and delays, eventual patent approvals and factors described in the Company’s filings with Canadian securities regulators. Discussion and analysis for the nine months ended September 30, 2022 and the Annual Information Form dated October 8, 2022. www.sedar.com, and in documents filed with the U.S. Securities and Exchange Commission. If one or more of these factors were found to be incorrect, actual results could differ materially from those intended, planned, anticipated or anticipated herein. 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.
Israeli Cannabis Technology Firm BYND Cannasoft Enterprises Inc. Files for EZ-G Patent Including Double Faceted Condoms, The Canadian Business Journal
Source link Israeli Cannabis Technology Firm BYND Cannasoft Enterprises Inc. Files for EZ-G Patent Including Double Faceted Condoms, The Canadian Business Journal