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Israeli Tech Company BYND Cannasoft Completes Acquisition Of Zigi Carmel Investments Ltd. At $28 Million Valuation, Canadian Business Journal

VANCOUVER, British Columbia, September 23, 2022 (GLOBE NEWSWIRE) — BYND Cannasoft Enterprises Inc. (NASDAQ: BCAN) (CSE: BYND) (“BYND” or “Company”) today announced, in addition to its news release dated September 19, 2022, that it has completed the purchase of all issued and outstanding shares of Zigi Carmel Initiatives & Investments Ltd.ZC”) from Carmel Zigdon. Under the terms of the Stock Purchase Agreement, the Company issued 7,920,000 shares of common stock to the vendor. These shares are subject to a holding period and may not be traded in Canada prior to January 23, 2023.

The company also reports that Carmel has been appointed to BYND’s board of directors. Carmel said that in 2021 he invented the concept of the EZ-G device and has been developing it for commercialization ever since. He currently manages the online shopping site ZCRAIV. ZCRAIV is an online clothing store with millions of US dollars in annual revenue.

The following disclosures are the sole responsibility of the vendor and are available upon request pursuant to disclosure obligations under National Instrument 62-103. Early Warning Systems and Associated Takeover Bid and Insider Reporting Issues (“NI62-103”).

Carmel Zigdon (“acquirer”) acquired beneficial ownership and control over 7,920,000 shares of common stock of the Company (“stock”) with a deemed price per share of $4.735 for a total deemed value of $37,501,200. Acquired shares on September 22, 2022 (“acquisition”). Immediately after the acquisition, the acquirer owned a total of 7,920,000 shares, representing 20.99% of the 37,736,810 outstanding shares of the Company.

The shares were acquired for investment purposes. An acquirer may, from time to time, acquire additional securities, dispose of some or all of the existing or additional securities, or continue to retain the Company’s securities.

A copy of the early warning report filed by the acquirer pursuant to NI 62-103 is available from Carmel at +972 54 2141448.

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 resources 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 an innovative 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, see our website www.cannasoft-crm.com, CSE’s website www.thecse.com/en/listings/life-sciences/bynd-cannasoft-enterprises-inc and the information available on SEDAR. please refer to. : 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 23, 2022.


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Israeli Tech Company BYND Cannasoft Completes Acquisition Of Zigi Carmel Investments Ltd. At $28 Million Valuation, Canadian Business Journal

Source link Israeli Tech Company BYND Cannasoft Completes Acquisition Of Zigi Carmel Investments Ltd. At $28 Million Valuation, Canadian Business Journal

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