June 26, 2019
Cannvas Provides Corporate Update on Strategic Initiatives
Cannabis Education Platform Revealing Key CPG Market Insights For Industry
TORONTO, June 26, 2019 /CNW/ – Cannvas MedTech Inc. (“Cannvas” or the “Company”) (CSE: MTEC) (Frankfurt: 3CM) (OTCPK: CANVF), a global digital cannabis education and analytics company, is pleased to announce significant growth in the digital traffic to its cannabis education platform Cannvas.Me, an unbiased evidence-based cannabis education resource providing physician-backed and educator-approved cannabis learning on all aspects of the plant with no pressure to purchase or consume. Cannvas is also pleased to share recent company updates across a series of initiatives and strategic partnerships.
In April, Cannvas announced a definitive partnership with Seed Technology, a California-based interactive customer-focused cannabis education platform, granting Cannvas exclusive Canadian rights to distribute co-branded kiosks and related technology to medical clinics and retailers across Canada. Cannvas Kiosks have been well-received by existing partners, including Empower Clinics (CSE: CBDT) (FRA: 8EC) (OTC: EPWCCF), a network of physician-staffed medical clinics in Arizona, Illinois, Nevada, Oregon and Washington State actively treating more than 165,000 patients, with whom Cannvas signed a definitive partnership to be its exclusive cannabis education provider and data and analytics partner through the installation of on-site Cannvas Kiosks. Cannvas and Seed continue to work closely together on various initiatives in the Canadian and U.S. markets actively moving towards international markets expansion in the near future.
In May, Cannvas officially launched its digital cannabis education resource for animals, Cannvas.Pet. Powered by the Cannvas.Me and Cannvas Data platforms, Cannvas.Pet explores health care through cannabis-based products to help treat a pet or animal’s ailments. With a focus on American audiences, Cannvas.Pet expects to be a leader in an industry in which, according to BDS Analytics, sales of cannabis-related products for pets at dispensaries in California, Colorado, Oregon and Washington was nearly $7 million in 2017. In Colorado alone, sales of pet products grew 49 per cent that year, while all other product categories only reached 15 per cent growth. Interest in the platform has been significant north of the border as well, especially in light of Health Canada’s recent announcement regarding “Cannabis Health Products”, a new category of cannabis that could potentially open up a huge market in which marijuana is used for the therapeutic treatment of animals for minor ailments.
In the coming weeks, Cannvas anticipates the appointment of several prominent Canadians and Americans to newly-formed Advisory Boards helping guide the content and direction of its digital education properties. To date in 2019, Cannvas has added several high-profile names to its Advisory Boards:
- Brad Poulos recently joined the Educational Advisory Board to provide independent oversight and guidance for Cannvas.Me. Mr. Poulos is currently on faculty and teaching the Business of Cannabis at the Ted Rogers School of Management at Toronto’s Ryerson University, and an in-demand public speaker on the topics of business and the cannabis industry.
- Dinesh Kandanchatha is leading the AI, Technology and Data Advisory Board, and brings with him a wealth of knowledge and expertise in the technology sector as founder and former Chief Technology Officer of Patriot One Technologies (TSX: PAT) (OTCQX: PTOTF) (FRANKFURT: 0PL), a concealed weapons detection system that promises a safer world.
- Wesley Tulshi also joined the AI, Technology and Data Advisory Board. Mr. Tulshi is currently based in Silicon Valley and serves as Director, Hololens HW Group at Microsoft, helping develop wearable mixed reality technology powered by artificial intelligence.
- Angela Smith, PhD is leading the Cannabis Sciences Advisory Board, providing independent scientific oversight for Cannvas.Me and bringing with her a wealth of experience in medical, scientific and clinical affairs for Canadian medicinal and recreational cannabis brands and natural health products, and leading international food brands.
- Emma Chasen, a leading U.S.-based cannabis educator and industry consultant, joined the Cannabis Sciences Advisory Board to provide educational content focused on the science of cannabis, leveraging her academic training in plant chemistry and experience working with leading cannabis brands in developing educational programs for staff and customers.
Its digital cannabis education platform Cannvas.Me continues to experience consistently strong growth, underscoring the need for unbiased cannabis education for cannabis consumers around the world. Month-over-month user growth on Cannvas.Me was up 34% in May and 61% in June, to date. Average time on site increased to 12 minutes and 40 seconds and month-over-month page views increased 369% in June to date. This suggests the audience for cannabis education is growing at a rapid rate and could be correlated to the continued relaxation of cannabis laws in countries around the world.
Cannvas Data has continued its approach of collecting and analyzing pre-cursor data, and remains among the only companies looking at what drives cannabis consumption through behavioural patterns and trends. As the Cannvas.Me site grows, the data collected becomes more valuable as a resource for businesses in and outside the cannabis industry to better understand what drives consumers to purchase cannabis.
Cannvas continues its focus on strategic merger and acquisition opportunities since engaging Catapult Growth Partners, a leading North American-based consultancy firm focused on helping businesses accelerate profitable growth and increase equity value, to explore transactions within the global cannabis sector and maximize shareholder value.
Its Cannvas Cannabis Acquisitions arm, a wholly-owned subsidiary with a focus on investment and acquisition in the expanding global cannabis sector, continues to position existing cannabis consumer trends and syncing datasets to monetize through strategic partnerships and M&A opportunities. Significant focus and aggressive global expansion is planned outside of Canada, with specific updates to be provided in the near future.
The previous financing announced by Cannvas has been cancelled at the company’s direction, while the company, alongside Cannvas Cannabis Acquisitions Corp, focuses on various strategic M&A opportunities which, if successful, would provide optimal shareholder value. Further details will be provided in due course as due diligence progresses.
Additionally, the company has issued an aggregate of 2,983,850 common shares of the company at a deemed value of 21 cents per share to a related party of the company, pursuant to the services rendered.
About Cannvas MedTech Inc.
Cannvas MedTech is a global digital cannabis education and analytics company delivering accessible and evidence-based education while harnessing the power of data to paint a clearer picture of cannabis consumption across Canada and the world.
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.