/NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S.A. NEWSWIRES/
VANCOUVER, May 7, 2019 /CNW/ - CannaOne Technologies (CNNA: CSE/FSE: 3CT) ("CannaOne" or the "Company") is pleased to give a brief update on the soon-to-launch online CBD marketplace for Mexico in partnership with Manna Health Services SA de CV ("Manna"). CannaOne is currently negotiating final terms of the formal service agreement with Manna intended to be a revenue sharing arrangement subject to terms and conditions expected to be fully defined in the near-term. It is predicted that this online Mexican marketplace will begin operations sometime in the Fall of 2019 with such actual launch date dependent on when, and if, the Mexican authorities ultimately permit the import and sale of CBD products within Mexico.
CannaOne CEO Solomon Riby-Williams stated, "The Mexico CBD marketplace branded 'Casa CBD', will be the home of premium CBD products to service the massive Mexican market. BloomKit, our proprietary software, will provide the technology foundation for this online buying platform and it is with extreme confidence that we look ahead to acting in our role as a critical service provider in the future of Casa CBD."
Pertaining to the Mexico, according to Marijuana Moment, lawmakers plan to use the summer recess, which begins May 1 and runs through August 31, to rework legislation to legalize recreational marijuana throughout Mexico. This recess period is particularly important given that the Supreme Court has imposed an October deadline to develop a countrywide regulatory plan for cannabis and hemp.
About Manna Health Services SA de CV
Manna Health is a Mexico City based company mainly engaged in the business of distributing and supplying health and wellness products for the Mexican mass market. Manna Health has a large partnership distribution network of both retail outlets and pharmacies across the country. Manna Health is involved in the rollout of full-scale cannabis legalization in Mexico and it is itself actively pursuing multiple licenses for all marijuana and CBD market sectors.
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