BYND:CC - Early Warning News Release for Yftah Ben Yaacov and Carmel Zigdon
(TheNewswire)
ASHKELON, Israel and VANCOUVER, British Columbia –TheNewswire – March 25, 2024 - BYND Cannasoft Enterprises Inc.(Nasdaq:BCAN) (“ BYNDCannasoft ” or the “ Company ”) has beeninformed by Yftah Ben Yaacov (“ Yftah ”) and Carmel Zigdon (“ Carmel ”) (each, an“ Acquiror ”) that each of them has filed an early warning reportreflecting that although the number of common shares of the Company(the “ Shares ”) held by them has not changed, the percentage ownershipof each of them has fallen below 10% of the Company’s outstandingShare capital following the closing of the Company’s US publicoffering (the “ Offering ”) on March 14, 2024.
The following disclosure is the sole responsibility,and is published at the request, of each of the Acquirors pursuant totheir disclosure obligations under National Instrument 62-103 The Early Warning System andRelated Take-Over Bid and Insider Reporting Issues (“ NI62-103 ”). All references to Shares are to thecommon shares of the Company prior to the reverse split effected onMarch 22, 2024.
Prior to the Offering, Carmel beneficially owned7,920,000 Shares representing approximately 18.60% of the Company’s42,571,081 outstanding Shares. After the Offering, Carmel owned thesame number of Shares representing approximately 6.71% of theCompany’s 117,971,048 outstanding Shares, a decrease ofapproximately 11.89%.
Prior to the Offering, Yftah beneficially owned8,184,616 Shares representing approximately 19.23% of the Company’s42,571,081 outstanding Shares. After the Offering, Yftah owned thesame number of Shares representing approximately 6.94% of theCompany’s 117,971,048 outstanding Shares, a decrease ofapproximately 12.29%.
The Shares were originally acquired by each Acquirorfor investment purposes. The Acquirors 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 reports that were filed bythe Acquirors pursuant to NI 62-103 may be obtained under theCompany’s profile on SEDAR+ ( www.sedarplus.ca ) and from Carmelat +972 54 2141448 and Yftah at +972 50 7262830.
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's health issues. The EZ-G device includestechnological advancements as a sex toy with a more realisticexperience and the prototype utilizes sensors to determine whatenhances the users' pleasure. The user can control the device througha Bluetooth app installed on a smartphone or other portable device.The data will be transmitted and received from the device to and fromthe secure cloud using artificial intelligence (AI). The data iscombined with other antonymic user preferences to improve itsoperation by increasing sexual satisfaction. Commercialization of theEZ-G device is subject to receipt of regulatory approvals.
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) 833-6820e?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. 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, 2022 and annual informationform dated March 31, 2023, 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 27, 2023. 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.
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