ASHKELON, Israel and VANCOUVER, British Columbia – TheNewswire – April 03, 2024 - BYND Cannasoft Enterprises Inc. (Nasdaq:BCAN) (“BYND Cannasoft” or the “Company”) an Israeli-based integrated software company, is announcing a substantial expansion of its research and development efforts. Committed to advancing women's health and wellness, the company is leveraging its proprietary Smart Delivery System (SDS) to spearhead the development of smart products tailored for women's sports, hair, and cosmetics sectors.

This strategic expansion underscores the Company's mission to act as a catalyst for transformative change in female health and wellness. With the Global Wellness Institute predicting the wellness economy's growth to reach $8.5 trillion by 2027*, the Company believes that it is positioned at the forefront of technological innovation. The Company is fully dedicated to the development of products that enhance the lives of women globally, tapping into a rapidly expanding market.

* https://globalwellnessinstitute.org/press-room/press-releases/globalwellnesseconomymonitor2023/

Innovative Product Line-Up

The Company is set to redefine skincare with its smart cosmetic face device, utilizing smart release technology alongside interchangeable serum capsules. This innovation allows users to seamlessly transition between treatments, catering to a variety of skin needs. The integration of LED light therapy and gentle vibrations ensures optimal serum absorption, making every skincare routine a luxurious experience.

In the hair wellness arena, the Company's proprietary technology has given rise to an innovative hair growth brush, designed to optimize hair treatment. By combining LED light therapy, gentle vibrations, and essential nutrient capsules, this brush aims to foster an ideal environment for hair growth, ensuring comprehensive care for every hair follicle.

Venturing into women's sports, the Company's development of a muscle pain relief regulator illustrates the Company's dedication to enhancing athletic performance and recovery. This wearable technology merges heat therapy, vibration, and gel application in a user-friendly design, offering targeted relief and muscle recovery support.

 

A Continued Commitment to Women's Wellness

BYND Cannasoft Enterprises Inc. harnesses its core growth engines, to push the envelope in the emerging market of health and wellness and feminine technology. The focus on innovative wellness devices, data-driven insights, and the development of substances that enhance wellness is setting new industry standards.

“We are thrilled to expand our technological endeavors to include smart products for women's sports, hair, and cosmetics. We are fully committed to developing solutions that address the unique wellness needs of women everywhere," stated Yftah Ben Yaackov, CEO of BYND. “These pioneering developments aim to solidify BYND's leadership in the health and wellness technology sector, emphasizing its commitment to improving women's lives worldwide”.

 

About the Fem-Tech Market

"According to Straits Research, “The global fem-tech market size was valued at USD 45.75 billion in 2022. It is estimated to reach USD 139.51 billion by 2031, growing at a CAGR of 13.12% during the forecast period (2023–2031).” Women have a significant impact on the healthcare industry. Women constitute fifty percent of healthcare consumers worldwide. Approximately ninety percent of women are the primary healthcare decision-makers in their homes. Additionally, women are 75% more likely than men to utilize digital healthcare tools. Approximately 80% of healthcare providers are female, with the preponderance being nurses. Women's participation in various sectors promoting healthcare can impact the adoption of fem-tech solutions.

Fem-tech or female technology consists of software, diagnostic devices, and products that target women's health using technology. The primary areas of emphasis include reproductive health, pregnancy and lactation care, pelvic and uterine care, and more. Additionally, fem-tech companies provide remedies for fundamental health problems, such as osteoporosis, that affect women more frequently or differently than men. Fem-tech encompasses using digital health to encourage women to access and utilize applications for managing their health concerns." *

*https://finance.yahoo.com/news/global-femtech-market-size-estimated-152000742.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAADxu1hPZubc8wPMpkhk3CuMheA6quYhXQcUbsUG0MZH0gz1TGIKsOsyex9GtqEWHcy430Cf9lyBhKNOgnHW8YW-eTbo3xQ5bqlhdr4YsFWf2pHC5xd14-RfauhVe4yQfGU1kqNEkA1jcOSO4JEpJj_H3eE0QBxNn6lOZAQyF5XmV

   

About BYND Cannasoft Enterprises Inc.  

BYND Cannasoft Enterprises is an Israeli-based integrated software and cannabis company. BYND Cannasoft owns and markets "Benefit CRM," a proprietary customer relationship management (CRM) software product enabling small and medium‐sized businesses to optimize their day‐to‐day business activities such as sales management, personnel management, marketing, call center activities, and asset management. Building on our 20 years of experience in CRM software, BYND Cannasoft is developing an innovative new CRM platform to serve the needs of the medical cannabis industry by making it a more organized, accessible, and price-transparent market. The Cannabis CRM System will include a Job Management (BENEFIT) and a module system (CANNASOFT) for managing farms and greenhouses with varied crops.

 BYND Cannasoft owns the patent-pending intellectual property for the EZ-G device. This therapeutic device uses proprietary software to regulate the flow of low concentrations of CBD oil, hemp seed oil, and other natural oils into the soft tissues of the female reproductive system to potentially treat a wide variety of women's health issues. The EZ-G device includes technological advancements as a sex toy with a more realistic experience and the prototype utilizes sensors to determine what enhances the users' pleasure. The user can control the device through a Bluetooth app installed on a smartphone or other portable device. The data will be transmitted and received from the device to and from the secure cloud using artificial intelligence (AI). The data is combined with other antonymic user preferences to improve its operation by increasing sexual satisfaction. Commercialization of the EZ-G device is subject to receipt of regulatory approvals.

For further information please refer to information available on the Company’s website: www.cannasoft-crm.com, and on SEDAR+: www.sedarplus.ca.

 

Gabi Kabazo

Chief Financial Officer

Tel: (604) 833-6820

e‐mail: ir@cannasoft-crm.com

 

Cautionary Note Regarding Forward-Looking Statements

 

This press release includes certain statements that may be deemed “forward-looking statements” within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended and under Canadian securities laws. When used in this press release, the words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions are intended to identify forward‐looking statements. Such statements are subject to certain risks and uncertainties, and actual circumstances, events or results may differ materially from those projected in such forward-looking statements.

Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual events or developments may differ materially from those in forward-looking statements. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause the Company’s actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. Such statements reflect the Company's current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause actual results to differ materially from the statements made, including future financial performance, unanticipated regulatory requests and delays, final patents approval, and those factors discussed in filings made by the company with the Canadian securities regulatory authorities, including (without limitation) in the company's management's discussion and analysis for the year ended December 31, 2023 and annual information form dated April 2, 2024, which are available under the company's profile at www.sedarplus.ca, and in the Company’s Annual Report on Form 20-F for the year then ended that was filed with the U.S. Securities and Exchange Commission on April 3, 2024. Should one or more of these factors occur, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward‐looking statements, except as required by law. Any such forward-looking statements represent management's estimates as of the date of this press release. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change. Shareholders are cautioned not to put undue reliance on such forward‐looking statements.