TORONTO, Sept. 11, 2018 /CNW/ - Cannvas MedTech Inc. ("Cannvas" or the "Company") (CSE: MTEC) (Frankfurt: 3CM), a leading business technology company in the cannabis space, and Blox Labs Inc. ("BLOX" or "the Company") (CSE: BLOX) (Frankfurt: BR1B), a technology development company focused on creating best-in-class blockchain software, are pleased to announce the signing of a letter of intent (the "LOI"), to negotiate, in good faith, a data analytics agreement with respect to "CannaBLOX", a Blockchain-based smart contract supply chain management platform for the legalized Cannabis industry that BLOX is developing in partnership with Liberty Leaf Holdings Ltd. (CSE: LIB) (OTC: LIBFF) (FSE: HN3P).
Under the terms of the Agreement, the Parties will assess, amongst other endeavors, various synergies that may exist through the utilization of Cannvas Data's analytical modeling framework and the various data capture opportunities that the CannaBLOX platform would provide. Cannvas will develop specific parameters within its existing Cannvas Data framework to collect and analyze transactional and industry data from the CannaBLOX platform, and their strategic industry partners. CannaBLOX would in turn gain access to a broad industry-level dataset as they rollout their preliminary module during a beta test phase.
Analytics from CannaBLOX will provide Cannvas Data with the additional insights of supply chain management, dissemination of cannabis products and their volumes within Canada, and various other transactional information from its seed-to-sale solution. Our mission statement for Cannvas Data is to collect and analyze data from various credible sources to enhance our ongoing analytical and modeling framework for the cannabis industry. Cannvas Data will continue to leverage existing partnership databases, site traffic and contextual technology for user engagement purposes to further its analytical solutions for the global cannabis community. The Parties have agreed to a discovery period whereby the technological specifications of the integration will be setup by Cannvas Data and will work together towards a definitive partnership agreement within the next 60 days.
"Performing analytics on a variety of datasets is our bread and butter with Cannvas Data. Infusing our existing data with data points provided from a seed-to-sale platform further enriches our ability to provide end-to-end customer behavioral analytics, industry trend analysis, and much more now that we can analyze the 'pre' and 'post' customer journey" said Shawn Moniz, CEO of Cannvas Medtech. "We are excited to partner with BLOX Labs to explore how best to analyze our cannabis industry data together".
About Blox Labs Blox Labs Inc. is a technology development company focused on creating best-in-class software solutions driven by emerging trends in Blockchain, Smart Contracts and Decentralized Applications. BLOX is helping customers with solutions for business problems from proofs of concept through execution. The Company is currently piloting blockchain solutions for supply chain management and improvement as well as other areas. BLOX is actively targeting partnerships and strategic acquisitions of growth companies.
About Cannvas Data Cannvas Data is pioneering to be the social and census data of the cannabis industry by leveraging advanced technology, machine learning algorithms and scientific and medical research data to provide meaningful insights to the global cannabis community. Operating as part of the Cannvas.Me platform, Cannvas Data analyzes a multitude of data points captured from those using medical and adult-use cannabis to improve their health and wellness. The platform is LP/REC agnostic which means it is not biased by the personal drivers of any one company or institution, and it is continuously evolving and adapting to users and recognizing and learning from changing trends. For more information visit: www.cannvasdata.com
About Cannvas MedTech Inc. Cannvas MedTech is a leading business technology company in the cannabis space. We design and build customer-centric solutions that enable our partners to harness the power of data to truly understand their customers, industry, and key business drivers.
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.