VANCOUVER, British Columbia, Sept. 28, 2022 (GLOBE NEWSWIRE) — BYND Cannasoft Enterprises Inc. (NASDAQ: BCAN) (CSE: BYND) (“BYND” or the “Company”) announced that its subsidiary BYND – Beyond Solutions Ltd. has signed an agreement with the Weizmann Institute of Science for the use of its proprietary software. Under the terms of the agreement, the Weizmann Institute of Science will use a beta version of the software provided as SAAS. The beta version will include BYND Cannasoft Enterprises’ C.R.M. System – Job Management (BENEFIT), as well as a module system (CANNASOFT) for managing farms and greenhouses with varied crops. BYND Cannasoft Enterprises will grant the Weizmann Institute a permit to use the license free of charge for a period of one year, after which the institute will have the right to extend the agreement and the Company will be paid a rate according to the agreement.
The Weizmann Institute of Science is one of the world’s leading multidisciplinary basic research institutions in the natural and exact sciences. It is located in Rehovot, Israel, just south of Tel Aviv. It has a long history of investigation and discovery rooted in a mission of advancing science for the benefit of humanity. In parallel, it educates a substantial proportion of Israel’s scientific leadership and advances science literacy in schools and among the public. The Weizmann Institute of Science has pioneered research using CBD to treat conditions as diverse as glaucoma, Parkinson’s, chemotherapy side effects, MS, and Crohn’s, while using advanced tools, like CRISPR gene editing, to further understand cannabis.
Yftah Ben Yaackov, CEO and a Director of BYND, said, “This is an extremely important step in the development of BYND Cannasoft Enterprises medical cannabis software since the Weizmann Institute has many greenhouses of various types that can cover all the development possibilities of the software in the coming year. We are honored to have the opportunity to beta test our cloud-based platform with a world-class institution like the Weizmann Institute of Science.”
BYND Cannasoft Enterprises will perform updates and continue to develop its software based on the conclusions and applications of the customer’s interactions. BYND Cannasoft expects additional revenues from the use of the software licenses and from dedicated development for the benefit of the Weizmann Institute of Science.
About the Weizmann Institute of Science
The Weizmann Institute of Science in Israel is one of the world’s top-ranking multidisciplinary research institutions. Noted for its wide-ranging exploration of the natural and exact sciences, Weizmann Institute’s scientists are advancing research on the human brain, artificial intelligence, computer science and encryption, astrophysics, and particle physics, and are tackling diseases such as cancer, while also addressing climate change through environmental, ocean, and plant sciences.
About BYND Cannasoft Enterprises Inc.
BYND is an integrated software/cannabis company, based in Israel.
BYND owns and markets a proprietary customer relationship management (CRM) software product, known as “Benefit CRM”. BYND’s Benefit CRM software enables small and medium‐sized businesses to optimize their day‐to‐day business activities such as sales management, personnel management, marketing, call center activities and asset management. BYND’s next-generation Benefit CRM platform is now ready for BETA testing.
Building on its 20 years of experience in CRM software, BYND has recently begun development of an innovative new CRM platform, designed specifically to serve the needs of the medical cannabis industry. This new platform will be the first of its kind for the medical cannabis field and the Company is confident it will transform the industry into a more organized, accessible, and price transparent market. Data and information collected through the operation of the Cannabis Farm (see below) and the products it produces will allow BYND to test its new Cannabis CRM platform and adjust the platform as necessary. Additionally, operating the Cannabis Farm and selling medical cannabis will bring in additional revenue to further support BYND during the initial roll‐out years of its cannabis CRM platform.
BYND is in the process of securing approval for the transfer of a primary growing license for growing medical cannabis in Israel and intends to construct a 3.7 acre farm facility near Ashkelon Israel, to grow medical cannabis. The Company’s plans include the construction of 4 state of the art greenhouses, housing approximately 2.5 acres of total growing area. BYND estimates that once fully operational its Cannabis farm facility will be able to produce 7,500kg of raw cannabis each year. BYND also intends to work with strategic partners to develop and market new, proprietary cannabis-infused products for sale throughout Israel and for export. For Further Information please refer to the information available on the Company’s website: www.cannasoft‐ crm.com, the CSE’s website: www.thecse.com/en/listings/life‐sciences/bynd‐cannasoft‐enterprises‐inc and on SEDAR: www.sedar.com.
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