GCAC Announces DeFi Marketing Token Buyback
Increases Ether Cryptocurrency Alternative Asset Balance Sheet Holdings
Vancouver, British Columbia, Canada - TheNewswire - September 2, 2021 - Global Cannabis Applications Corp. ("GCAC" or the "Company") (CNSX:APP.CN) (FSE:2FA) (OTC:FUAPF), a leading medical cannabis chain-of-custody compliance and data platform, announced that it used a percentage of the Company’s quarterly revenues to buyback the GCAC token on Uniswap  as part of its marketing campaign aimed at the one million decentralized finance user community .
“First and foremost, We - Are - Blockchain. I’m delighted to continue to promote our company amongst the DeFi community. We now have 342 holders of the GCAC token who are a critical part of our strategy to fund Canadian cannabis grows- who will license Efixii. Every day we see this excitement grow on a vibrant Telegram @GCACToken channel. Working collaboratively with these folks was made clear in our recent NFT press release  and as such we will continue to buyback tokens which increases our balance sheet exposure to the Ether cryptocurrency” stated Brad Moore, CEO.
Company believes that the DeFi community is a key market demographic, as they are consumers that have disposable income, are under 34 years old and increasingly drawn to the use of cannabis products . This multi-year marketing campaign aims to raise awareness of GCAC by engaging in a DeFi token buyback program on the Ethereum and Binance Smart Chain  blockchains.
Company is publicly traded with audited financials and makes accurate revenue disclosures. GCAC’s has committed to a token buyback-spend of at least 1% of its quarterly revenues. Each token-buy should lead to greater awareness of the Company. This quarters buyback was US$2,000.
Prior to the buyback, GCAC tokens were trading at $5.12 on Uniswap and $4.51 on Pancakeswap. On April 8, 2021, the Company acquired 100,000 tokens for $0.20 each and this buyback adds approximately 350, Ether cryptocurrency denominated, tokens to the Company’s balance sheet. On April 8, 2021, Ether cryptocurrency was trading at US$2,081 and today is trading at US$3,500.
The Uniswap GCAC marketing token is built and operated by Abbey Technology.
#eth #uniswap #pancakeswap #binance #defi #nft
About Global Cannabis Applications Corp. “GCAC”
GCAC 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.
About Abbey Technology GmbH, “Abbey”
Abbey, a Swiss company, specializes in developing, licensing and operating innovative blockchain technologies. The “Public-Company to Uniswap-Token” marketing platform was invented by Abbey alongside its Ethereum layer-2 high-throughput blockchain software-as-a-service. For information on Uniswap-token marketing campaigns for public companies visit https://abbey.ch.
Phone: +1 (800) 409-5679
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.