Tickers: XCNQ:APP, PINX:FUAPF
Tags: Medicinal Marijuana, Mining, Technology
Vancouver, British Columbia, Canada / TheNewswire / November 29, 2017 - Global Cannabis Applications Corp. ("GCAC" or the "Company") (CSE: APP, FSE:2FA, OTCQB: FUAPF), a leading developer of innovative data technologies for the cannabis industry, is pleased to announce that it has established an office in Europe with its head office in Lithuania. GCAC Lithuania will be the first medical cannabis company in the country. GCAC Europe will be established with assistance from Mr. Antanas Guoga, a shareholder who was appointed to the GCAC advisory board on November 21, 2017. Gouga will take an active role with GCAC in Europe as it launches its innovative technology for the medical cannabis industry.
"I am very honoured to be part of the emerging blockchain based initiative which serves for the scientific research for the medical cannabis industry which is one of the most underestimated medical areas in Europe. Transparency and efficiency are the essentials of the blockchain technology used by GCAC that are also crucial to me. Moreover, I am happy that the global innovative company is going to use the talents pool in my home country of Lithuania where the industry for the blockchain technology is developing extremely fast," said Antanas Guoga, Member of the European Parliament. "As a strategic advisor to GCAC, I recognize that the Citizen Green medical cannabis data platform will be important in assisting medical cannabis stakeholders by capturing, aggregating and delivering data in a trusted blockchain environment. This is an important milestone for both GCAC and the newly emerging European medical innovation markets."
On November 14, members of the Lithuanian parliament voted to consider an amendment to the country's drug policy. Parliament recognizes the benefits of cannabis medicines for severely ill patients, and the voted almost unanimously to consider a legislative amendment that could legalize medical cannabis and other currently prohibited drugs, and potentially open the door for the medicinal use of cannabis in Lithuania.
"Europe, and Lithuania particularly is an emerging medical innovations market which can benefit from our end-to-end data aggregation and user delivery system for the medical cannabis industry," said Brad Moore, CEO of GCAC. "Tony G is well known and regarded in the country as an opinion leader for the innovative solutions, and will be invaluable resource as we navigate the political landscape and introduce blockchain and cryptocurrencies to the medical cannabis landscape in Lithuania."
Global Cannabis Applications Corp. is a global leader in designing, developing, marketing, and acquiring innovative data technologies for the cannabis industry. The Citizen Green platform is the world's first end-to-end - from patient to regulator - medical cannabis data solution. It uses six core technologies: mobile applications, artificial intelligence, reg tech, smart databases, blockchain and digital reward tokens, to qualify candidates for clinical studies. These technologies facilitate the proliferation of digital conversations by like-minded people in medical cannabis. Managed by digital and cannabis industry experts, GCAC is focused on viral global expansion by providing the best digital experience in the cannabis market.
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This news release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of GCAC. Forward-looking information is based on certain key expectations and assumptions made by the management of GCAC. Although management of the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because GCAC can give no assurance that they will prove to be correct. Forward-looking statements contained in this news release are made as of the date of this news release. GCAC disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy and accuracy of this information.
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