GCAC Enters into Definitive Agreement with Purity-IQ Biotechnology

Vancouver, British Columbia, Canada, November 10, 2020 – Global Cannabis Applications Corp. ("GCAC" or the "Company") (CSE: APP, FSE: 2FA, OTCQB: FUAPF), a leading commercial licensor of proprietary Data and AI technologies to the medical cannabis industry, today announced that it has signed a Definitive Agreement (“Agreement”) with Canadian company Purity-IQ Inc. (“Purity-IQ”) to commercially integrate the Purity-IQ Cannabis Authenticity and Purity Standard (CAPS) into the GCAC platform; with a focus on the Canadian medical cannabis and adult-use markets, which are forecast to grow to CA$4.1 billion in 2021.

This Agreement expands the GCAC Cultivator-SaaS license to allow cultivators to pay a “Purity-IQ Access Fee” to GCAC. The access fee enables the immutable connection of a medical cannabis strain’ batch to a Purity-IQ ISO17025 certified laboratory test result. These results are then further attested-to using GCAC’s chain of custody blockchain platform, thereby ensuring product quality and consistency of strain and dosage, for the consumer or patient.

Purity-IQ and its patented process uniquely fingerprints cultivars based on a metabolite profile using Nuclear Magnetic Resonance (NMR) and DNA chip bioinformatics. Fingerprints are then referenced by GCAC’s efficacy platform to verify batch-to-batch consistency in medical cannabis efficacy programs.

GCAC’s CEO, Brad Moore “We’re continuing to bring more truth to the medical cannabis space. Being able to compare the efficacy of a cultivator’s cannabis strain on a batch-by-batch basis offers consumers products that they can trust. These disclosures also help pharmacies and dispensaries to build and protect their brands. Commercially, cultivators pay our access fee to link Purity-IQ batch-to-batch attestations to a crop, then this, in turn, brings other parts of the value chain into the GCAC fold, as they opt to work with growers committed to transparency.”

Paul Valder, Cofounder and Chief Technology Officer at Purity-IQ commented “CAPS identifies and differentiates medical cannabis products, builds intellectual brand property and ensures authenticity. GCAC supports the whole value chain, including the Purity-IQ testing phases, and gives consumers full transparency, trust and confidence in the products they consume.”

Under the Agreement, all GCAC derived attestation data is the intellectual property (“IP”) of GCAC. Securing GCAC’s IP creates an inherent difficulty in replicating, or directly competing with GCAC’s medical cannabis datasets and solutions. The company believes this makes GCAC one of the most complete, and exciting, efficacy platforms in the cannabis and RegTech space.

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Global Compliance Applications Corp. is a global leader in designing and developing innovative blockchain technologies and machine learning solutions to improve real-world businesses.

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