The Prototype Printing Marks a Major Milestone in the Production Launch Timeline
VANCOUVER, British Columbia, September 21, 2023 (THE NEWSWIRE) -- BYND Cannasoft Enterprises Inc. (Nasdaq: BCAN, CSE: BYND) (“BYND Cannasoft” or the “Company”), proudly announced today that after a year of intensive development of the EZ-G Device, the full design of the product is completed, and that the company has sent the first prototype for printing. The Company previously shared key updates in August relating to the production timeline and the printing of the EZ-G Device prototype marks another milestone achieved in this roadmap.
The prototype is the first of its kind in this category that combines technical elements of hardware such as peristaltic pumps, a heart rate sensor, pressure sensor, and EC sensor that work together to learn about your body as well as a patent pending system that regulates the flow of low-concentration CBD oils from capsules through the device to the area needed. The device will combine AI algorithms and machine learning processes from these sensors to collect data on the user’s needs and preferences to create a personalized experience. Data collected by the device's sensors can be uploaded to the cloud, where user preferences will be stored. We believe that these personalized results will make the product standout in the female community for both its potential and benefits.
Image depicting the EZ-G Device and AI-powered application.
“We are very proud of the fact that after a full year of our continuous efforts we are at the point where our idea has become a real prototype,” said Yftah Ben Yaackov, CEO and Director of BYND Cannasoft. “This milestone is very important to us, and we hope to stay on track to the market launch in the second quarter of 2024. We believe that our device is unique and designed with the modern woman in mind to equip them with a cutting-edge device that offers a truly unique and personalized experience. We hope that its introduction to the women’s health market will bring real positive change to the industry.”
Mr. Ben Yaackov continued, "As we continue into the last few months of the year and collaborate with esteemed partners and institutions, we remain dedicated to our mission and are excited to share more progress announcements very soon.”
About BYND Cannasoft Enterprises Inc.
BYND Cannasoft Enterprises is an Israeli-based integrated software and cannabis company. BYND Cannasoft owns and markets "Benefit CRM," a proprietary customer relationship management (CRM) software product enabling small and medium‐sized businesses to optimize their day‐to‐day business activities such as sales management, personnel management, marketing, call center activities, and asset management. Building on our 20 years of experience in CRM software, BYND Cannasoft is developing an innovative new CRM platform to serve the needs of the medical cannabis industry by making it a more organized, accessible, and price-transparent market. The Cannabis CRM System will include a Job Management (BENEFIT) and a module system (CANNASOFT) for managing farms and greenhouses with varied crops.
BYND Cannasoft owns the patent-pending intellectual property for the EZ-G device. This therapeutic device uses proprietary software to regulate the flow of low concentrations of CBD oil, hemp seed oil, and other natural oils into the soft tissues of the female reproductive system to potentially treat a wide variety of women's health issues. The EZ-G device includes technological advancements as a sex toy with a more realistic experience and the prototype utilizes sensors to determine what enhances the users' pleasure. The user can control the device through a Bluetooth app installed on a smartphone or other portable device. The data will be transmitted and received from the device to and from the secure cloud using artificial intelligence (AI). The data is combined with other antonymic user preferences to improve its operation by increasing sexual satisfaction.
For Further Information, please refer to information available on the Company’s website: www.cannasoft-crm.com, the CSE’s website: www.thecse.com/en/listings/life-sciences/bynd-cannasoft-enterprises-inc and on SEDAR+: www.sedarplus.ca.
Gabi Kabazo
Chief Financial Officer
Tel: (604) 833-6820
e‐mail: ir@cannasoft-crm.com
For Media and Investor Relations, please contact:
TraDigital IR
Tel: (212) 389-9782 x.108
Email: colette@tradigitalir.com
Cautionary Note Regarding Forward-Looking Statements
This press release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts, that address future events or developments that the Company expects, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual events or developments may differ materially from those in forward-looking statements. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause the Company’s actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. Such statements reflect the Company's current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause actual results to differ materially from the statements made, including future financial performance, unanticipated regulatory requests and delays, final patents approval, and those factors discussed in filings made by the company with the Canadian securities regulatory authorities, including (without limitation) in the company's management's discussion and analysis for the year ended December 31, 2022 and annual information form dated March 31, 2023, which are available under the company's profile at www.sedar.com, and in the Company’s Annual Report on Form 20-F for the year then ended that was filed with the U.S. Securities and Exchange Commission on April 27, 2023. Should one or more of these factors occur, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward‐looking statements, except as required by law. Any such forward-looking statements represent management's estimates as of the date of this press release. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change. Shareholders are cautioned not to put undue reliance on such forward‐looking statements.