Vancouver, British Columbia, Canada / TheNewswire / December 4, 2018 - Global Cannabis Applications Corp. ("GCAC" or the "Company") (CSE: APP, FSE: 2FA, OTCQB: FUAPF), a leading developer of innovative data technologies for the medical cannabis industry, is pleased to announce it has signed a binding Letter of Intent (the "LOI") with Grassroots SpA, an online cannabis company with over 3,000 patients across the country of Chile, to enter into a licensing agreement whereby Grassroots will acquire the exclusive distribution rights to sell GCAC technologies in Chile for the period of the contract and GCAC will provide new and existing technologies for Spanish speaking markets.
The LOI contemplates a commercial relationship whereby Grassroots will pay a monthly licensing fee plus fees per user, and half of the development cost of future Spanish language modules, to gain the distribution rights to sell GCAC's advanced digital technology for the cannabis industry in Chile. Grassroots will work to aggressively connect and register patients, existing Chilean dispensaries and Chilean licensed producers to the Spanish language Citizen Green Community network and Prescriptii Patient Care Solution.
"The cannabis market in Chile is where the Canadian market was five years ago: full of optimism and opportunity," said Alvaro Sequeida, President & CEO, Grassroots SpA. "We believe the Citizen Green Community platform with its advanced technology, management dashboard and community-based approach offer significant benefits to all involved in the Chilean medical cannabis market. This relationship will significantly further our commitment to ensure our patients get the very best in customer and medical cannabis care and provide the connection between doctor and patient.
"I am very pleased to welcome Grassroots and the first of many Spanish speaking medical cannabis users to the Citizen Green Community as we expand into Chile," said Brad Moore, CEO of GCAC. "With Grassroots we are introducing new and exciting modules to the community, such as doctor scheduling and e-commerce, from which we expect to drive additional revenues. From the outset we designed the community to be dynamic, scalable and translated into other languages.
GCAC will provide a Spanish version of Prescriptii Patient Care Solution including a Grassroots SpA management dashboard and plus develop and release new online portals including:
- A medical doctor dashboard for the education, information and prescription of medical cannabis products for specific patient's ailments & diseases;
- Develop a doctor-patient scheduling solution for tele-prescriptions; and
- Facilitate an e-commerce gateway for patients to purchase products outside of Chile
With a population of over 18 million people, Chile has the highest cannabis consumption rates per capita and boasts the greatest support for cannabis legalization in Latin America. In 2015, medical cannabis was legalized, and recreational cannabis was decriminalized allowing residents of the country to grow this incredible plant. Large scale grow operation require a license from the Agriculture and Livestock Service department of the Chilean federal government.
Citizen Green's Prescripitii solutions is an innovative patient care application that builds and enhances the relationship of trust that already exists between medical cannabis sellers and their patients. The use of smart technology to drive better health outcomes enables licensed producers, retail owners, dispensaries and pharmacies to focus on their business's success. The Prescriptii desktop application offers the best possible medical cannabis product for a specific ailment for clients, which are tracked and recorded to include usage experiences. This information is aggregated and then made available to the retailer enabling them to better understand their clients and provide superior guidance on next steps.
Grassroots SpA, an online cannabis company with a patient list of over 3,000 patients across the country of Chile, is focused on bringing the benefits of medical cannabis to Chile, through the interactions between doctors and patients. Grassroots SpA is a duly incorporated company under the laws of Chile, that services alternative medicinal patients in Chile. GRS is currently working with a list of over 3,000 patients of whom have purchased in the last 12 months Cannabis derived medicines.
Global Cannabis Applications Corp. is a global leader in designing, developing, marketing and acquiring innovative data technologies for the medical 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.
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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.