CannaOne And SpeakEasy Sign LOI To Launch The First Cbd E-Comm Marketplace In Canada
VANCOUVER , Dec 16, 2019 /CNW/ – CannaOne Technologies Inc. (CNNA.CN)/ (CNONF.OTC)/(3CT.F) (“CannaOne” or the “Company”), a leading cannabis e-commerce technology company, is pleased to announce it has signed a non-binding letter of intent with SpeakEasy Cannabis Club Ltd., (CSE: EASY) (Frankfurt: 39H) (“SpeakEasy”) to launch the first CBD e-commerce marketplace in Canada, as the Canadian operating arm of The BWell Market (“BWell”) –www.theBwellMarket.com.
BWell is a CBD e-commerce marketplace which was launched by CannaOne in mid-2019, through a partnership in California following the historic Farm Bill passed by the US Federal government in December 2018, decriminalizing CBD and allowing online sales to supply 50 of the 52 states in America. BWell’s enterprise platform was one of the first to take advantage of the online CBD market opportunity in the USA, was, and continuing to be powered and managed exclusively by the proprietary e-commerce technology developed by CannaOne. Since BWell’s initial launch, it has been able to attract some of America’s most recognized CBD brands, including Select CBD, and CBD-FX. BWell currently holds over 200 SKUs.
Solomon Riby-Williams, CannaOne CEO “‘To secure a partnership with SpeakEasy, being a highly reputable and vastly experienced agricultural cannabis licensed producer in Canada will provide significant external validation to our business. Certain attributes of cannabis like its lightweight and perishable nature, make it the perfect product to ship online, and both we and SpeakEasy have found that we share strong common ground in this opinion. Our technology was built with the specific goal to get cannabis products to consumers in as fast and fresh a manner as possible and as we continue to endeavour to develop partnerships our worldwide delivery footprint will invariably grow and expand. We believe online cannabis sales will inevitably be the way of the future and it is such global transformation that we see happening here and now. A partnership with SpeakEasy can take us one step further towards our goal of becoming an international market leader in the cannabis e-comm space.”
CBD Market Opportunity:
BDS Analytics and Arcview Market Research project that the collective market for CBD sales in the U.S. will surpass $20 billion by 2024.
US based CBD company ‘Charlotte’s Web’ recently reported 57% of their $70 million revenue coming from their online sales platform.
“The Canadian CBD Market is expected to reach $1 billion in the next 4 years” – Forbes.
CannaOne Technologies is a software development and technology company that has developed its own proprietary online E-Commerce Marketplace solution linking the rapidly expanding CBD industry to consumers. The company’s first consumer product, BloomKit, is a software suite that delivers a complete online toolkit for a variety of applications for companies in the sector. In June 2019 CannaOne helped launch BWell (thebewellmarket.com), in the United States, facilitating the sale of a large selection of premium CBD products from numerous suppliers to consumers. CannaOne has also secured contracts with underlying expectations to launch additional marketplaces in Mexico and the UK marketplace during the first half of Calendar 2020. The company’s overall vision is to provide comprehensive online solutions for the industry globally and is now well-positioned to offer industry suppliers with a premium, turnkey technology platform for their CBD products that not only sells and markets products, but also educates and engages their community from the ground up. CannaOne has uniquely positioned itself to its potential partners or clients, as not only a developer and operator of an innovative marketplaces and turnkey software platforms, but also as a consolidator, manager and overseer of extremely informative and valuable cannabis related analytics and consumer data.
About SpeakEasy Cannabis Club Ltd.:
SpeakEasy Cannabis Club Ltd. holds a cultivation, processing and sales licence issued by Health Canada under the Cannabis Act. SpeakEasy owns 290 acres of land in Rock Creek, British Columbia, and leverages three generations of farming experience in B.C. as well as its favourable location to grow and process high-quality cannabis products at low cost. SpeakEasy cultivates small batch, high quality craft cannabis in its 10,000 square foot indoor facility and has recently completed the development of its 60-acre outdoor field. The Company’s intention, upon receipt of an amendment to its current licence to include the outdoor cultivation area, is to produce approximately 70,000kg of outdoor, sun grown cannabis in 2020.
For more information please contact:
Thesis Capital Inc.
36 King Street East, Suite 400
Toronto, ON, M5C1E5
www.thesiscapital.ca | https://twitter.com/ThesisInfo
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The securities referred to herein will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
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, other costs or implied future forecasts. The Company further again cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, many of which are beyond the Company’s control. Such factors include, among other things: risks and uncertainties relating to the Company’s limited operating history and the need to comply with environmental and governmental regulations. In addition, marijuana remains a Schedule I drug under the United States Controlled Substances Act of 1970. Although Congress has prohibited the US Justice Department from spending federal funds to interfere with the implementation of state medical marijuana laws, this prohibition must be renewed each year to remain in effect. 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.