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VANCOUVER, April 23, 2019 /CNW/ - CannaOne Technologies (CNNA: CSE/FSE: 3CT) ("CannaOne" or the "Company") is pleased to provide details of the partnership previously announced with Real Health Science last month. On April 15, 2019, it was formally agreed that CannaOne would retain a 25% ownership stake of the US CBD marketplace to be branded as 'BWell' with CannaOne acting as facilitator and operator of BWell alongside Real Health Science. The 25% ownership is granted to the company for marketing and development services over the next 24 months. The agreement also included a further caveat that CannaOne has an option to acquire up to an additional 24.99% interest in the BWell within the next 24 months subject to terms and conditions to be defined in future. BWell is to be an online CBD product purchase and delivery e-commerce marketplace covering the entirety of the United States.
CannaOne CEO Solomon Riby-Williams stated "The BWell branded US CBD marketplace, utilizes the vast relationships and large network of high-quality CBD suppliers possessed by Real Health Science, such that it will be able to provide the CBD market premium products and services at extremely competitive pricing. The large and ever-increasing demand for CBD products makes this partnership with Real Health Science the perfect opportunity to implement our proprietary Bloomkit cannabis technology platform as the underlying baseline foundation driving the BWell CBD marketplace."
"Riby-Williams added, "The timing of the launch of the BWell marketplace could not be any better - CBD is finding its way into a great quantity of everyday products spread across a wide array of consumer requirements. It's being unabashedly embraced by all sorts of demographics and BWell will be right there with them ensuring that they receive the best products in the timeliest manner to satisfy those needs.
The USA CBD Market:
CBD, a non-psychoactive cannabinoid found in cannabis, has had a surge in popularity over the past couple of years. Unlike THC, the chemical compound that gives marijuana its signature effect, CBD has been shown to help with everything from PTSD and anxiety to MS and epilepsy—without the effects associated with THC.
"In past years CBD products were available mostly in head shops, with a few doctors recommending them for various maladies. But in 2017 and 2018, the products spread rapidly to natural food stores, beauty aisles, cafés and doctors' offices. It was expected that the industry was on track to hit $591 million in 2018, and thanks to a number of factors—including, surprisingly, Senate Majority Leader Mitch McConnell—that could increase 40 times in the next four years." - Cannabis Business Times
According to a new estimate from cannabis industry analysts the Brightfield Group, "the hemp-CBD market alone could hit $22 billion by 2022."
THE BWell Partnership
About Real Health Science
Real Health is a California based company with a focus towards delivering the highest quality CBD products to its customer base covering 47 out of 50 U.S. states markets in the most timely and professional services manner possible. In order to accomplish this, Real Health has established working relationships with superior providers in each vertical within our industry; U.S.A. cannabis genetics businesses, U.S.A. cannabis terpene extractors and suppliers, efficient and cost-effective hemp CBD extraction and purification labs in the USA, cGMP manufacturers of finished products, highest rated cannabis testing and certification labs & supremely effective drop shipping and logistics providers.
About CannaOne Technologies
CannaOne has developed Bloomkit, the first product in the Bloom Product Suite; a turnkey enterprise software solution that can be utilized by any B-to-C cannabis company. Inherent functionalities ensure its users the highest levels of on-going customer satisfaction while the adaptability of Bloomkit, gives clients the ability to operate and satisfy regulatory environments of any governing body around the World, truly affording CannaOne the opportunity to serve an overall base of global clientele with a software suite that sits at the forefront of the industry. The Bloom Product Suite™ is representative of complete data driven and design focused software solutions that contain diverse system architectures and provide intelligent, machine learning that will give clients detailed industry business insights and ultimately lead to the creation and management of predictive content and product recommendation engines.
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDERS HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
FORWARD-LOOKING STATEMENTS: Certain information contained herein may constitute "forward-looking information" under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as, "will be", or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements are based on the Company's estimates and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of CannaOne to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including capital expenditures and other costs. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. CannaOne will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.
SOURCE CannaOne Technologies Inc.
For further information: Solomon Riby-Williams, Chief Executive Officer, [email protected], 604 -559-8893