VANCOUVER, British Columbia, September 18, 2022 (GLOBE NEWSWIRE) — BYND Cannasoft Enterprises Inc. BCAN BYND (“BYND” or the “Company”) announced today that it has signed a share purchase agreement to acquire 100% of the shares in Zigi Carmel Initiatives & Investments Ltd. (“ZC“), representing patent-pending intellectual property for a therapeutic device (the “EZ-G device“), which uses low concentrations of CBD oils such as hemp seed oil and other natural oils to treat certain health issues affecting women. Under the terms of the share purchase agreement, the Company will issue to the owner of ZC 7,920,000 common shares at a set price per share of $4,735 (subject to closing of the transaction by October 10, 2022) and will pay $100,000 to cover its legal costs. Closing of the transaction is subject to certain customary conditions. BYND expects the transaction to close this month.
The EZ-G device is a unique, patent-pending device that, in combination with proprietary software (preliminary application), regulates the flow of low-potency CBD oils into the soft tissues of the female reproductive system. According to the research results1 Globally practiced treatment with low strength CBD oils can relieve candida, dryness, scars and many other female health problems.
BYND intends to advance the final registration of the patent and set up a marketing and sales system for the EZ-G device. The company’s strategic plan “Go to Market” is based on combined B2B and B2C sales. Numerous studies have shown that CBD interacts with the endocannabinoid system, a major regulatory system with receptors throughout the body. By activating these receptors, CBD may have health benefits that help make sex more accessible and enjoyable by reducing stress, improving mood, promoting body comfort, and treating vaginal issues. According to the Brightfield Group, a cannabis industry data research firm, sales of CBD products could reach 11 billion dollars2 by 2027. A new one Zion Market Research…
