BYND:CC - Early Warning News Release for Yftah Ben Yaacov
(TheNewswire)
ASHKELON, Israel and VANCOUVER, British Columbia –TheNewswire – June 18, 2024 - BYND Cannasoft Enterprises Inc.(Nasdaq:BCAN) (“ BYNDCannasoft ” or the “ Company ”) has beeninformed by Yftah Ben Yaacov (“ Yftah or Acquiror ”) that he has filed anearly warning report reflecting that the number of common shares ofthe Company (the “ Shares ”) held by him has changed and thathis percentage ownership has went over 10% of the Company’soutstanding Share capital following the issuance of shares to him onJune 14, 2024.
The following disclosure is the sole responsibility,and is published at the request, of the Acquiror pursuant to hisdisclosure obligations under National Instrument 62-103 The Early Warning System and RelatedTake-Over Bid and Insider Reporting Issues (“ NI 62-103 ”).
On June 14, 2024, 1,038,525 shares were issued to Yftahfollowing vesting of RSUs granted to him.
Prior to the Share issuance, Yftah beneficially owned243,076 Shares representing approximately 2.44% of the Company’s9,961,412 outstanding Shares. After the Share issuance, Yftah owned1,281,601 Shares representing approximately 11.65% of the Company’s10,999,937 outstanding Shares, an increase of approximately9.21%.
The Shares were originally acquired by the Acquiror forinvestment purposes. The Acquiror may from time to time acquireadditional securities, dispose of some or all of the existing oradditional securities or may continue to hold the securities of theCompany.
A copy of the early warning report that was filed bythe Acquiror pursuant to NI 62-103 may be obtained under theCompany’s profile on SEDAR+ ( www.sedarplus.ca ) and fromYftah at +972 50 7262830.
About BYNDCannasoft Enterprises Inc.
BYND Cannasoft Enterprises is an Israeli-basedintegrated software company. BYND Cannasoft owns and markets"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.
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 artificialintelligence (AI). The data is combined with other antonymic userpreferences to improve its operation by increasing sexualsatisfaction. Commercialization of the EZ-G device is subject toreceipt of regulatory approvals.
The devices described in this news release are conceptdevices that are in the first stage of development and will be subject to testing, experimentsand regulatory approvals and therefore there is no certainty that theywill eventually be marketed.
For further information please refer to informationavailable on the Company’s website: www.cannasoft-crm.com, and onSEDAR+: www.sedarplus.ca .
Gabi Kabazo
Chief Financial Officer
Tel: (604) 833-6820
e?mail: ir@cannasoft-crm.com
Cautionary NoteRegarding Forward-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. Such statements are subject tocertain risks and uncertainties, and actual circumstances, events orresults may differ materially from those projected in suchforward-looking statements.
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, 2023 and annual informationform dated April 2, 2024, which are available under the company'sprofile at www.sedarplus.ca, and in the Company’s Annual Report onForm 20-F for the year then ended that was filed with the U.S.Securities and Exchange Commission on April 3, 2024. Should one ormore of these factors occur, or should assumptions underlying theforward-looking statements prove incorrect, actual results may varymaterially from those described herein as intended, planned,anticipated, or expected. We do not intend and do not assume anyobligation to update these forward?looking statements, except asrequired by law. Any such forward-looking statements representmanagement's estimates as of the date of this press release. While wemay elect to update such forward-looking statements at some point inthe future, we disclaim any obligation to do so, even if subsequentevents cause our views to change. Shareholders are cautioned not toput undue reliance on such forward?looking statements.
Copyright (c) 2024 TheNewswire - All rights reserved.