GCAC Signs Data Sales Contract to For Medical Cannabis Data
Vancouver, British Columbia, Canada – TheNewswire - January 20, 2021 – Global Cannabis Applications Corp. ("GCAC" or the "Company") (CSE:APP) (CNSX:APP.CN) (FSE:2FA) (OTC:FUAPF), a leading medical cannabis chain-of-custody compliance and data platform, today announced it has signed a definitive Data Sales Service Agreement ("Agreement") with Alqami. The partnership will enable GCAC to leverage Alqami’s global buyer network and license the data generated by GCAC’s suite of medical cannabis software solutions.
GCAC continues to expand the Efixii recurring revenue sales channel by licensing on a subscription basis it’s anonymized medical cannabis data assets to investment managers and large corporate wanting to understand consumer behaviour, the efficacy trends and those impacts on companies within the industry. Company expects Efixii data license revenue to almost double its per-gram income by yielding a further $0.18/gram on top of its forecast $0.20/gram for Efixii QR code SaaS licensing.
Alqami is the right partner for GCAC as it specializes in unlocking data potential through its network of data exchange partners and its goal is to maximize the worth of Efixii data. Efixii data can be used by third parties to drive investment and business decisions, including leading hedge funds, large medical cannabis industry stakeholders, pharmaceutical companies, and many others.
Under the Agreement, all GCAC derived cannabis data is the sole intellectual property (“IP”) of GCAC and Alqami does not gain access or acquire any rights to the IP. GCAC licenses its data directly with data exchange parties, as introduced by Alqami, and grants commercial access to relevant data assets subject to a bi-party, recurring-revenue, subscription agreement. GCAC’s IP is secured and is a valuable intangible asset. The IP’s proprietary nature creates an inherent difficulty to replicate, or directly compete with other medical cannabis datasets in the market.
Samantha Campbell, Co-founder and CEO, Alqami, commented “The medical cannabis market is growing rapidly across the globe. The ability to determine efficacy of specific strains and track those from seed to application is an area that has not yet been utilised by the investment management community. We look forward to working with GCAC to help fill this information market gap.”
Brad Moore, CEO of GCAC said, “This new sales agreement contract brings together my total revenue model vision of SaaS licensing plus data sales. Our two-year revenue target is based on $0.38/gram with nearly 128 million grams under contract. Our per-gram cultivator deals come in many sizes, starting at 500 kilograms, growing to many millions of grams per cultivator. With these critical commercial pieces now in place, we’re marketing the Efixii application to end consumers with the goal to educate them on why using medical cannabis products grown using Efixii is much safer and produces a better patient outcome.”
About Alqami LLC
Alqami is a specialist data consultancy, identifying opportunities for alternative data vendors to gain increased commercial value from their data, by developing a go to market strategy with corporate and financial clients seeking an information edge. Established in 2019, headquartered in London, with an office in New York and global coverage. Alqami collaborates with their partner network matching data sources and users.
About Global Cannabis Applications Corp.
Global Cannabis Applications Corp. is a global leader in designing, developing, SaaS licensing and acquiring innovative data technologies for the medical cannabis industry. The Citizen Green and Efixii platforms are the world's first end-to-end - from patient to regulator - medical cannabis data solutions. They use six core technologies: mobile applications, artificial intelligence, RegTech, smart databases, Ethereum blockchain and GCAC smart rewards. These technologies transparently disclose cannabis chain-of-custody events, thereby enabling patients to provide crowd-sourced medical cannabis efficacy data. Driven by digital and cannabis industry experts, GCAC is focused on generating revenue from SaaS licensing its technology and acquiring high quality cannabis datasets that improve patient outcomes and to become the world’s largest cannabis efficacy data provider.
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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.