APP:CC - GCAC Partners with Cannabis Life Science to Bring Discounted Cannabis to Nevada's 200k Veterans
(TheNewswire)
Citizen Green to Deliver Cannabis Coupons on the LasVegas Strip
Vancouver, British Columbia, Canada– TheNewswire - February 20, 2024 – Global Compliance Applications Corp. (“GCAC”)(CSE:APP ) ( FSE:2FA ) ( OTC:FUAPF), aone-stop digital-coupon shop that saves veterans and other consumersmoney on cannabis and CBD products , is excitedto partner with Cannabis Life Sciences (“CLS”), CLS Holdings USA,Inc. (OTCQB: CLSH) (CSE: CLSH), to bring discounted cannabis toNevada's veteran community.
This collaborative effort will see CLS provide Upliftdiscount coupons for their City Trees products which can be redeemedat Oasis Cannabis, the CLS retail dispensary. Uplifts’ digitalcoupons for CLS products will be made available to all 200,000 plusveterans in the Silver State [1].
City Tree, the #1 vape and concentrate brand in Nevada[2], processes cannabis at its 10,000 square foot facility, andwholesales their cannabis-related products to Oasis Cannabis, andexternal third parties. City Tree served 85 external customers in thequarter ended 11/30/23, generating $2.1m in B2B revenue for the period[3].
Oasis Cannabis, with an over 2,500 square foot retaildispensary on the Las Vegas Strip that served 68,586 customers in thequarter ended 11/30/23 and generated $3.1m in B2C revenue for theperiod, representing an average revenue per user of $136 [3]. Oasis isconsistently rated as one of the Top 10 dispensaries in Las Vegas[5].
GCAC’s app typically offer a 25% discount using its$5 to $20 digital-coupons on individual cannabis products to veterans.GCAC earns 30% of each redeemed-coupons’ face-value for theprovision of its digital services to retailers. For every $1m inretail sales with a discount, GCAC would expect to earn $75,000[6].
This joint venture seeks to empower veterans in Nevadawith the means to pursue growth and healing on their own terms. TheUplift app allows for anonymous veteran feedback on product efficacywhich is shared in real-time with their peers. This approachguarantees that only the highest quality products are recommended,fostering an environment of trust and transparency amongstveterans.
GCAC’s CEO, Brad Moore “In cannabis retail is whereEfixii Uplift shines. Its ability to connect brands, retailers andconsumers is unparalleled. Transparency of product and experiences iskey to success in medical cannabis treatment. As a Canadian veteran, Ihave seen how our American brother and sisters are underserved due tocurrent US federal regulations. I am delighted that CLS has joined theCitizen Green Project to make a meaningful impact, offering supportand healing to those who have served their country. Today, together westart making a difference for Nevada veterans.”
The partnership will also look to expand across the CLSexternal wholesale B2B customer-base, and their dispensaries, to offerUplift coupons to non-veteran consumers in Nevada’s $850 millioncannabis market [4], while expanding City Tree branded cannabisproducts throughout the state.
[1] https://www.va.gov/vetdata/Veteran_Population.asp
[2]https://www.barrons.com/articles/city-trees-production-facility-achieves-unprecedented-milestone-with-record-breaking-sales-month-db6df98f
[5]https://mgmagazine.com/business/retail-merchandise/best-dispensaries-las-vegas/
[6] $1,000,000 * 25% * 30% = $75,000
About CLS Holdings USA, Inc.
CLS is a diversified cannabis company, focuses on theextraction and conversion of cannabinoids in the United States. Itextracts cannabinoids from the cannabis plants and converts intoconcentrates, that includes oils, waxes, edibles, and shatters; andprovides toll processing services. The company also sells organicmedical cannabis to licensed retailers; recreational marijuanacannabis products to licensed distributors and retailers; extractionproducts, such as oils and waxes derived from in-house cannabisproduction; and offers processing and extraction services for licensedmedical cannabis cultivators, as well as cannabis strains in the formof vegetative cuttings to licensed medical cannabis cultivators. Itoffers its products under Oasis Cannabis and City Trees brand names.The company’s concentrates are used for pharmaceutical and otherpurposes. CLS was founded in 2014 and is based in Las Vegas, Nevada. https://www.clsholdingsinc.com/
About Global C ompliance Applications Corp. “GCAC”
GCAC is a global leader in designing and developinginnovative blockchain technologies and machine learning solutions toimprove real-world businesses. GCAC's leading solution is Efixii, anEthereum Layer 2 blockchain and EVM programming functionality that ison par with other Layer-2's, such as Polygon. GCAC can connect productproducers, distributors, manufacturers, and retailers through a seriesof value chain dApps that allows for data connectivity to drive betterconsumer experiences and sales. GCAC serves as aone-stop digital-coupon shop that saves users money on cannabis andCBD that may have Efixii-blockchain verified seed to sale lifecycleinformation. GCAC works in many agriculturalindustries providing a value-added blockchain offering through acost-effective SaaS licensing model.
For more information, please visit globalcompliance.app , or review its profile on sedar.com and the Canadian Securities Exchange thecse.com .
GCAC Press Contact
+1 (800) 409-5679
Forward-Looking Information
This news release mayinclude forward-looking information within the meaning of Canadiansecurities legislation concerning the business of GCAC.Forward-looking information is based on certain key expectations andassumptions made by the management of GCAC. Although management of theCompany believes that the expectations and assumptions on which suchforward-looking information is based are reasonable, undue relianceshould not be placed on the forward-looking information because GCACcan give no assurance that they will prove to be correct.Forward-looking statements contained in this news release are made asof the date of this news release. GCAC disclaims any intent orobligation to update publicly any forward-looking information, whetheras a result of new information, future events or results or otherwise,other than as required by applicable securities laws.
The CanadianSecurities Exchange has not reviewed and does not acceptresponsibility for the adequacy and accuracy of thisinformation.
###
Copyright (c) 2024 TheNewswire - All rights reserved.