GCAC Strengthens Its Medical Cannabis Efficacy Platform with Purity-IQ Biotechnology to Address a $4.1 Billion Market Opportunity

Vancouver, British Columbia, Canada, October 5, 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 Memorandum of Understanding (“MOU”) with Purity-IQ Incorporated of Canada (“Purity-IQ”) (http://purity-iq.com/) to integrate the Purity-IQ Cannabis Authenticity and Purity Standard (CAPS) and its Fingerprint™ technology with the GCAC efficacy 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 .

Following on from its TraceLocker announcement on September 3rd, GCAC is attracting key players in the Canadian medical cannabis space.

The company’s MOU with Purity-IQ is a significant endorsement of the GCAC blockchain compliance and medical efficacy data collection platform. The proposed cooperation integrates GCAC’s efficacy-data with Purity-IQ’s CAPS Fingerprint™ service, a unique genetic and chemical profile of cannabis cultivars.

GCAC’s blockchain medical efficacy smartphone app immutably links a specific Purity-IQ CAPS Fingerprint™ cultivar directly to a consumer’s anonymous efficacy attestations. This is set to revolutionize the traceability of cannabis efficacy and bring it more in line with formal medical trial information that a traditional dispensing pharmacist would be able to reference.

Purity-IQ can uniquely identify a cultivar based on a metabolite profile using Nuclear Magnetic Resonance (NMR) and DNA chip bioinformatics. The intent is for Purity-IQ Fingerprints to be referenced by GCAC’s efficacy platform to verify ‘batch-to-batch’ consistency in medical cannabis efficacy programs.

GCAC’s CEO, Brad Moore “I have no doubt that our smartphone efficacy-data platform is an industry leader for cannabis. Bringing the Purity-IQ scientific fingerprinting of cannabis cultivars, to which our consumers will report their efficacy, really builds a picture of what works for a consumer and what doesn’t. This is where medical cannabis needs to get to and, we’re bringing it there!” Brad Moore continued, “With our blockchain truths and efficacy data-sets, medical practitioners, pharmacists, cultivators and processors gain efficacy data previously only found in formal drug trials. We change that and bring the wisdom-of-the-crowd to bear for medical cannabis efficacy.”

Under the agreement, GCAC contributions regarding efficacy are the intellectual property (“IP”) of GCAC. Securing GCAC’s IP creates an inherent difficulty in replicating, or directly competing with, GCAC’s medical cannabis solutions, and this is what the company believes makes GCAC one of the most exciting efficacy platforms in the cannabis and RegTech space.