Vancouver, British Columbia, Canada, June 22, 2023 – Global Compliance Applications Corp. (“GCAC” or the “Company”) (CSE: APP, FSE: 2FA, OTCQB: FUAPF), a leading chain-of-custody compliance and data platform, is pleased to announce the signing of an Uplift Application Licensing Agreement with Kroniclez, a licensed retail cannabis establishment in Waterloo, Ontario Canada [1]. This significant agreement marks the first integration of the Uplift NFT coupon system on the Efixii blockchain in a retail environment.
Kroniclez is strategically located across the street from Wilfred Laurier University [2] with over 20,000 students. Additionally, they will actively participate in the Citizen Green Project, offering exclusive deals to Canadian veterans. With over 149,000 veterans residing in the Province of Ontario, this collaboration holds immense potential [3].
Kroniclez will be able to create NFT coupons for non-cannabis-regulated products and discounts on shipping. The benefits of using the Uplift NFT coupon system [4] over traditional coupons are substantial. Kroniclez and other cannabis retailers gain a competitive edge through increased foot traffic and additional sales opportunities. By redeeming NFT coupons, retailers attract new customers who tend to make supplementary purchases, leading to enhanced sales figures. Uplift's blockchain infrastructure eliminates the need for costly APIs, making implementation a breeze and requires minimal staff training. Customers can conveniently redeem coupons by scanning a QR code, ensuring seamless transactions.
We are confident that this strategic partnership with GCAC will solidify our position in the market and strengthen our commitment to customer satisfaction.Manpreet Cheema, Owner of Kroniclez.
With NFTs on the secure Efixii blockchain, fraud becomes non-existent, guaranteeing the utmost coupon security. For brands wishing to participate the utilization of US Digital Currency enables immediate settlement between retailers and brands, eliminating the necessity of a clearinghouse. By offering coupon redemption, Kroniclez enhances customer relationships, fostering customer satisfaction and boosting overall sales.
"As the owner of Kroniclez, I am thrilled to introduce this innovative solution to build our retail cannabis business and simultaneously contribute value to Canadian veterans, all within the restrictive framework of marketing rules in Canada," said Manpreet Cheema, Owner of Kroniclez. “We are confident that this strategic partnership with GCAC will solidify our position in the market and strengthen our commitment to customer satisfaction."
This is just the start of building the Efixii metaverse with the Uplift NFT couponing and the Citizen Green Project. We look forward to onboarding many more cannabis/CBD retailers in Canada and the USA.Brad Moore, GCAC CEO.
GCAC, as the provider of the Uplift NFT coupon system, earns a platform fee equivalent to 30% of the face value of each redeemed NFT token on the one-year renewable contract. As a Citizen Green Partner Kroniclez will qualify to earn CGVET token rewards [5] for future spending within the Uplift ecosystem. GCAC additionally earns a transactional fee for each CGVET awarded and redeemed.
Says GCAC CEO, Brad Moore “This is just the start of building the Efixii metaverse with the Uplift NFT couponing and the Citizen Green Project. We look forward to onboarding many more cannabis/CBD retailers in Canada and the USA.”
Uplift NFT coupons will be available to be redeemed at Kroniclez's retail location as of July 7, 2023. To get the coupons consumers simply need to download the Uplift app from either the Apple or Android app stores [6].
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.globalcompliance.app, 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.
About Global Compliance Applications Corp.
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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