BYND Cannasoft Provides EZ-G Device Milestones for the Second Half of 2023
ASHKELON, Israel and VANCOUVER, British Columbia, July 25, 2023 (GLOBE NEWSWIRE) -- BYND Cannasoft Enterprises Inc. (Nasdaq: BCAN) (CSE: BYND) ("BYND Cannasoft" or the "Company") today announced several milestones for the second half of 2023 on the development of its groundbreaking EZ-G Device. The EZ-G device, a therapeutic solution utilizing AI and machine learning, could enhance therapeutic approaches for women's health issues by offering cutting-edge technology to cater to the evolving needs of consumers. Moreover, the company is actively negotiating with synergistic businesses, particularly those in the CBD oils sector, for a transformative transaction.
BYND Cannasoft is pleased to provide the following key milestones in the development of the EZ-G Device:
- Finishing the Prototype of the EZ-G Device in 60 Days: BYND Cannasoft plans to reiterate its commitment to innovation by accomplishing the development of the EZ-G Device's initial prototype within a 60-day timeline. The Company's team of experts intends to create a prototype that showcases the technology's potential to disrupt the market.
- EZ-G Device Focus Group Experience within 60 Days: In line with BYND Cannasoft's customer-centric approach, the Company plans to engage a focus group to perform rigorous testing and evaluation of the EZ-G Device over the next 60 days. This process will provide valuable insights and user feedback, helping to refine the product to exceed customer expectations.
- Finalizing the EZ-G Device Prototype and Software by the End of the Fourth Quarter: Building upon insights gained from the focus group, BYND Cannasoft intends to build on its recent successful completion of the laboratory testing phase by fine-tuning the EZ-G Device's prototype and software. The Company is dedicated to refining user experience and functionality to introduce a superior product.
- Going to Market with the EZ-G Device in the First Quarter of 2024: With a meticulously developed and thoroughly tested product, BYND Cannasoft's management believes the Company is on track for a market launch of the EZ-G Device in the first quarter of 2024. The Company anticipates that the product will set new industry benchmarks.
Yftah Ben Yaackov, CEO and Director of BYND Cannasoft said, "As part of the prototype development of the EZ-G device, numerous comprehensive experiments were conducted during the recent laboratory testing phase to assess the functionality and performance of the assembled sensors within the device that are capable of detecting indicators such as temperature, heart rate, contractions, and fluids. Our next phase will include completing the prototype, engaging in feedback from various focus groups, and solidifying strategic agreements to bring the EZ-G Device to market." Mr. Ben Yaackov continued, "This is an excellent example of our commitment to delivering exceptional products and experiences to our customers. Our relentless focus on innovation and customer satisfaction continues to drive our success, positioning BYND Cannasoft as a trailblazer in the women's health industry."
In addition to these groundbreaking milestones, BYND Cannasoft is actively negotiating with several companies with synergistic business models, particularly those in the CBD oils sector. These discussions aim to establish transformative partnerships, opening doors for new opportunities and amplifying the impact of both companies in the market.
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.sedar.com.
Gabi Kabazo
Chief Financial Officer
Tel: (604) 833-6820
e‐mail: [email protected]
For Media and Investor Relations, please contact:
David L. Kugelman
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Cautionary Note Regarding Forward-Looking Statements
This press release includes certain statements that may be deemed "forward-looking statements" including statements regarding the filing of a final Prospectus. 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 including but not limited to intended business objectives and the expected timelines to accomplish those objectives. 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 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.
