August 20, 2018
Cannvas and CanvasRx Sign Letter of Intent
Working Together to Enhance Cannabis Education and User Experiences Across Both Platforms
TORONTO, Aug. 20, 2018 /CNW/ – Cannvas MedTech Inc. (“Cannvas” or the “Company”) (CSE: MTEC, Frankfurt: 3CM), a leading business technology company in the cannabis space, and CanvasRx, a wholly owned subsidiary of Aurora Cannabis Inc. operating 29 clinics across Canada, are pleased to announce the signing of a letter of intent (the “LOI”), to negotiate, in good faith, a patient aggregation agreement after an exploratory period of up to six months during which Cannvas and CanvasRx agree to mutually create data models through the Cannvas.me platform suited for CanvasRx’s B2B and B2C businesses.
“I look forward to working with Shawn and his team to create better methods to deliver information and education to medical cannabis patients across Canada,” said Peter Vuong, Chief Executive Officer, CanvasRx. “I recognize the value of data and data analytics and I feel by working together with Cannvas we can leverage our respective strengths to create something very powerful.”
“I am very pleased to announce a letter of intent with Aurora Cannabis’ CanvasRx to explore a broader patient aggregation agreement during a short exploratory time period,” said Shawn Moniz, Chief Executive Officer, Cannvas MedTech Inc. “CanvasRx is known as Canada’s trusted resource and marketplace for medical cannabis users and with 29 clinics operating across the country has become a leading channel for cannabis products, information and education. We expect CanvasRx to gain new insights from our advanced data aggregation and data analysis technology. By combining our data, we will gain deeper industry insights for business planning and product development purposes and we will work together to create various revenue generation avenues.”
With strong partnerships, a network of clinics, and access to, and information on hundreds of strains of medical cannabis from the top Licensed Producers in Canada, CanvasRx has developed a powerhouse of education and information for the cannabis industry. People use CanvasRx to learn about medical cannabis, find knowledgeable doctors, select strains and track their outcomes with Patient Reporting tools developed by physicians.
During the exploratory period, Cannvas will develop specific parameters within its existing Cannvas Data framework to collect data and analytics from CanvasRx and their strategic partnerships, and provide CanvasRx with access to the Cannvas.me dataset. CanvasRx will benefit from using Cannvas.me proprietary databases and algorithms to gain insights to their existing and future membership base. The two companies will work together to enhance user experiences across each respective online platform and explore ways to improve the overall education of visitors in a non-biased and independent method, including positioning the Cannvas.me educational platform within the CanvasRx chain of medical cannabis clinics.
Cannvas Data is the analytics branch of Cannvas MedTech. Its mission is to collect data from credible sources to enhance user personal data algorithms for Cannvas.me. Cannvas Data will leverage existing databases, site traffic and advanced technology for marketing purposes, and will leverage its comprehensive solution for the global cannabis community.
CanvasRx is Canada’s trusted resource and marketplace that enables users to develop a better understanding of medical marijuana, its uses and the strains and licensed products available in Canada.
About Cannvas MedTech Inc.
Cannvas MedTech is a leading business technology company in the cannabis space. We design and build customer-centric solutions that enable our partners to harness the power of data to truly understand their customers, industry, and key business drivers.
No stock exchange or securities regulatory authority has reviewed or accepted responsibility for the adequacy or accuracy of this release.
Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe the Issuer’s future plans, objectives or goals, including words to the effect that the Issuer or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company’s Management’s Discussion and Analysis and other disclosure filings with Canadian securities regulators, which are posted on www.sedar.com.