BYND:CC - BYND Cannasoft Enterprises Inc. Announces Voluntary Delisting from Canadian Securities Exchange
(TheNewswire)
ASHKELON, Israel and VANCOUVER, British Columbia –TheNewswire – March 12, 2024 - BYND Cannasoft Enterprises Inc.(Nasdaq:BCAN) (CSE:BYND) (“BYND Cannasoft” or the “Company”)an Israeli-based integrated software and cannabis company, todayannounced that it has applied and received approval for a voluntarydelisting of its common shares from the Canadian Securities Exchange("CSE"). The delisting from the CSE will not affect theCompany's listing on the NASDAQ Capital Market (the"NASDAQ"). The common shares will continue to trade on theNASDAQ under the symbol "BCAN".
The Company believes that the trading volume of itsshares on the CSE no longer justifies the expenses and administrativeefforts required to maintain a dual listing. The Company also believesthat delisting from the CSE will create a central marketplace for itscommon shares on the NASDAQ, and ultimately benefit the long-termliquidity and shareholder value of the Company.
It is anticipated that, effective as at the close of trading on orabout March 14, 2024, BYND Cannasoft's common shares will no longer belisted and posted for trading on the CSE.
Following delisting from the CSE, BYND Cannasoft'sshareholders can trade their common shares through their brokers onNASDAQ. As most brokers in Canada, including many discount and onlinebrokers, have the ability to buy and sell securities listed on NASDAQ,BYND Cannasoft's 's NASDAQ listing will continue to provideshareholders with the same accessibility to trade the Company's commonshares. Shareholders holding shares in Canadian brokerage accountsshould contact their brokers to confirm how to trade BYND Cannasoft'sshares on the NASDAQ.
About BYND Cannasoft EnterprisesInc.
BYND Cannasoft Enterprises is an Israeli-basedintegrated software and cannabis company. BYND Cannasoft owns andmarkets "Benefit CRM," a proprietary customer relationshipmanagement (CRM) software product enabling small and medium?sizedbusinesses to optimize their day?to?day business activities suchas sales management, personnel management, marketing, call centeractivities, and asset management. Building on our 20 years ofexperience in CRM software, BYND Cannasoft is developing an innovativenew CRM platform to serve the needs of the medical cannabis industryby making it a more organized, accessible, and price-transparentmarket. The Cannabis CRM System will include a Job Management(BENEFIT) and a module system (CANNASOFT) for managing farms andgreenhouses with varied crops.
BYND Cannasoft owns the patent-pending intellectualproperty for the EZ-G device. This therapeutic device uses proprietarysoftware to regulate the flow of low concentrations of CBD oil, hempseed oil, and other natural oils into the soft tissues of the femalereproductive system to potentially treat a wide variety of women'shealth issues. The EZ-G device includes technological advancements asa sex toy with a more realistic experience and the prototype utilizessensors to determine what enhances the users' pleasure. The user cancontrol the device through a Bluetooth app installed on a smartphoneor other portable device. The data will be transmitted and receivedfrom the device to and from the secure cloud using artificial intelligence (AI). The data is combined withother antonymic user preferences to improve its operation byincreasing sexual satisfaction. Commercialization of the EZ-G deviceis subject to receipt of regulatory approvals.
For Further Information please refer to informationavailable on the Company’s website: www.cannasoft-crm.com, theCSE’s website: www.thecse.com/en/listings/life-sciences/bynd-cannasoft-enterprises-inc and on SEDAR+: www.sedarplus.ca.
Gabi Kabazo Chief Financial Officer Tel: (604) 833-6820e?mail: ir@cannasoft-crm.com
Cautionary Note RegardingForward-Looking Statements
This press release includes certain statements that maybe deemed “forward-looking statements” within the meaning ofSection 27A of the U.S. Securities Act of 1933, as amended, andSection 21E of the U.S. Securities Exchange Act of 1934, as amendedand under Canadian securities laws. When used in this press release,the words “may”, “would”, “could”, “will”,“intend”, “plan”, “anticipate”, “believe”,“estimate”, “expect” and similar expressions are intended toidentify forward?looking statements. Those forward-lookingstatements include, without limitation, the statement as to theanticipated date of delisting from the CSE,’’ which date is withinthe control of the CSE. Such statements are subject to certain risksand uncertainties, and actual circumstances, events or results maydiffer materially from those projected in such forward-lookingstatements.
Although the Company believes the expectationsexpressed in such forward-looking statements are based on reasonableassumptions, such statements are not guarantees of future performance,and actual events or developments may differ materially from those inforward-looking statements. Such forward-looking statementsnecessarily involve known and unknown risks and uncertainties, whichmay cause the Company’s actual performance and financial results infuture periods to differ materially from any projections of futureperformance or results expressed or implied by such forward-lookingstatements. Such statements reflect the Company's current views withrespect to future events and are subject to such risks anduncertainties. Many factors could cause actual results to differmaterially from the statements made, including future financialperformance, unanticipated regulatory requests and delays, finalpatents approval, and those factors discussed in filings made by thecompany with the Canadian securities regulatory authorities, including(without limitation) in the company's management's discussion andanalysis for the year ended December 31, 2022 and annual informationform dated March 31, 2023, which are available under the company'sprofile at www.sedar.com, and in the Company’s Annual Report on Form20-F for the year then ended that was filed with the U.S. Securitiesand Exchange Commission on April 27, 2023. Should one or more of thesefactors occur, or should assumptions underlying the forward-lookingstatements prove incorrect, actual results may vary materially fromthose described herein as intended, planned, anticipated, or expected.We do not intend and do not assume any obligation to update theseforward?looking statements, except as required by law. Any suchforward-looking statements represent management's estimates as of thedate of this press release. While we may elect to update suchforward-looking statements at some point in the future, we disclaimany obligation to do so, even if subsequent events cause our views tochange. Shareholders are cautioned not to put undue reliance on suchforward?looking statements.
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