GCAC Announces Close of Definitive Agreement Launching Medical Cannabis Business for Canadian Veterans
Vancouver, British Columbia, Canada – TheNewswire - March 2, 2023 – Global Compliance Applications Corp. (“GCAC” or the “Company”) (CSE:APP), (FSE:2FA), (OTCQB:FUAPF) is pleased to announce that it has signed a Definitive Agreement (the “Agreement”) with COMSOL PPV Telecom (“Comsol”) and Citizen Green Ventures Inc. (the “JV Co.”) to create an online portal providing Canadian veterans with blockchain cultivated medical cannabis. New Brunswick-based Sana’a Cannabis will be the lead cultivator to provide best-in-class cannabis to veterans grown on the Efixii blockchain .
Per the Definitive Agreement, GCAC will retain 51% of JV Co. reassigning its Non-Possession License to Citizen Green. Medical cannabis license issuance to JV Co. is subject to approval from Health Canada. Comsol will earn 49% by providing a digital storefront, online training, and sales & marketing support to the joint venture. Through its sister company, Cerberus PPV Holdings Ltd, Comsol has signed a Sales and Distribution Agreement to provide cannabis product fulfillment. GCAC will be paid by the JV Co. to provide the Efixii blockchain for cannabis cultivation. GCAC and Comsol have elected one board member each, with a third member to be nominated within 30 days. Pending finalization of the License transfer, GCAC and Comsol have agreed upon an Interim Agreement, under the same terms of the Agreement, to enable Canadian veterans to begin buying cannabis immediately.
In 2022, Veterans Affairs Canada revealed the Canadian government is on track to spend nearly $200 million on medical cannabis for former service members. The JV Co. will earn a minimum of $8.50 per gram for the veteran’s market as per Veterans Affairs’ policies. Eighty-one (81) veterans are pre-registered to receive services from the JV Co. Veterans wishing to join Citizen Green can sign up at https://thespecialforcesexperience.com/citizen-green/ (“SFE”). JV Co. has entered into an agreement with the SFE to sign up 800 veterans in 2023 and provide them with free online Post-Traumatic Growth courses .
Comsol CEO Veronica Flores stated, “For too long medical cannabis has been about brands making some big claims. We are partnering with GCAC because it’s time to bring the truth to our veterans. Through Citizen Green online store, only Sana’a’s Efixii truth cultivated cannabis, validated by other veterans, will be available.”
“Citizen Green brings cannabis, community and counselling (3Cs) on the Efixii trust blockchain, free of charge, to Canadian vets and soon to our American brothers.” says Brad Moore, GCAC CEO. “Our motto has always been ‘better outcomes for medical cannabis patients’, so now Sana’a, the SFE and GCAC will deliver on that to our most deserving.”
A proudly Canadian cannabis grower located in beautiful Miramichi, NB which is located at the mouth of the Miramichi River, one of Canada's most famous salmon rivers. The word Sana'a means "work of art" in Swahili and "heal" in Spanish. With this in mind, we at Sana’a aim to provide high-end, craft-quality cannabis flower. We start by carefully selecting specific strains from the best-known breeders in the cannabis industry. We groom cannabis strains and harvest them at their peak to get the best possible cannabinoid and terpene profile for any given strain. Our 35.000 square-foot facility, 9 state-of-the-art flower rooms with a rigorous research and development genetics program, advanced processing, and automated packaging capabilities. We thrive in an eco-friendly growing process to improve the quality of our products ensuring a finely cured crafted product for connoisseurs and consumers alike, whether it is for recreational or medical use.
The Special Forces Experience (SFE) honors the science and spirit of intentionally facilitated post-traumatic growth. SFE was founded by Former JTF2 Assaulter Jeff Depatie, is a community made of a collective of individuals rooted in the belief that challenge and adversity can be a springboard for growth in all aspects of life. While there will always be strong individual voices, we believe that none of us is as strong as all of us. True success comes from synarchy – collective co-creations among groups of leaders who develop farsighted and innovative approaches to evolve systems that just don’t work anymore. The SFE is committed to building communities that honor integrity, wisdom, service, and personal growth through in-person events, virtual community-building platforms, online education, and cinematography.
GCAC is a global leader in designing and developing innovative blockchain technologies and machine learning solutions to improve real-world businesses. GCAC's leading solution is Efixii, an Ethereum Layer 2 blockchain and EVM programming functionality that is on par with other Layer-2's, such as Polygon. GCAC can quickly connect each participant from product producers, distributors, manufacturers and retailers through a series of value chain dApps that allows for data connectivity to drive better consumer experiences and sales. GCAC created clearESG to assist businesses in communicating their sustainability goals and earned attributes on the blockchain through a series of ESG (Environmental, Social & Governance) merit badges. As an interconnected supply chain solution, the Efixii solution pays tokens for attesting to a product's value, or truthness, through a reward program. GCAC works in many agricultural industries providing a value-added blockchain offering through a cost-effective SaaS licensing model.
For more Company information, please visit www.gcac.tech or review its profiles on www.sedar.com and on the Canadian Securities Exchange's website www.thecse.com.
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.