BYND:CC - Israeli Cannabis Technology Company BYND Cannasoft Enterprises Inc. Announces Third Quarter 2023 Financial Results

(TheNewswire)

Vancouver, British Columbia – TheNewswire - November14, 2023 - BYND Cannasoft Enterprises Inc. (Nasdaq: BCAN) , (CSE: BYND ) (“ BYND ” or the “ Company ”) has releasedits financial results for the nine-month period ended September 30,2023. Full versions of BYND's unaudited consolidated interim financialstatements and management discussion and analysis for the period canbe found on www.sedarplus.ca .

Q3 2023 Financial Highlights:

• Revenue decreased 2% to $873,740 for the nine-monthperiod ended September 30, 2023 from $890,86 in 2002.

• Gross Profit decreased to 52% for the nine-month periodended September 30, 2023, from 58% in 2022.

• Net loss increased 245% to $3,327,542 for thenine-month period ended September 30, 2023 from $964,462 in2022.

• Working capital decreased to 2,601,644 on September 30,2023, from $2,987,975 on December 31, 2022.

• Total assets decreased to $49,553,665 for September 30,2023, from $49,903,208 for December 31, 2022.

• The total shares outstanding as of September 30, 2023,were 3 9,643,681

Summary of Quarterly Comparison ofRevenue, Gross Profit and Net Loss

Mr. Yftah Ben Yaackov, BYND's CEO, noted, "We arevery pleased with the Company's financial results during Q3 of 2023 aswe were able to keep investing in our future products. With theproceeds from the recent public offering, we are able to continueinvesting in our patent registrations and the creation of the EZ-Gprototype, and we plan to introduce the products to the market in thefirst half of 2024."

Despite the decline in gross profit percentage, theCompany remains focused on its long-term growth strategy and productdevelopment initiatives. The net loss for Q3 2023 increasedsignificantly compared to the same period last year. This can beattributed to the strategic investments made by the Company to fuelits growth and innovation. These investments are part of awell-defined plan to bring new products to the market, enhancingBYND's position as a pioneer in the sexual wellness industry.

The decrease in working capital and total assets is aresult of planned expenditures and investments for the development ofnew products and the enhancement of existing ones. The Company remainswell-capitalized to support its growth and expansion plans.

Investors and stakeholders are encouraged to review thecomplete consolidated interim financial statements and managementdiscussion and analysis for deeper insights into BYND's financialperformance during Q3 2023. BYND believes in its long-term strategyand the positive impact it will have on the Company's growth andprofitability as they continue to focus on expanding its patentportfolio and advancing product development.

About BYND Cannasoft EnterprisesInc.

BYND Cannasoft Enterprises is an Israeli-based integrated software andcannabis company. BYND Cannasoft owns and markets "BenefitCRM," a proprietary customer relationship management (CRM)software product enabling small and medium-sized businesses tooptimize their day-to-day business activities such as salesmanagement, personnel management, marketing, call center activities,and asset management. Building on our 20 years of experience in CRMsoftware, BYND Cannasoft is developing an innovative new CRM platformto serve the needs of the medical cannabis industry. The Cannabis CRMSystem will include a Job Management (BENEFIT) and a module system(CANNASOFT) for managing farms and greenhouses with varied crops.

BYND Cannasoft owns the patent-pending intellectual property for theEZ-G device. This device uses proprietary software to regulate theflow of low concentrations of CBD oil, hemp seed oil, and othernatural oils into the soft tissues of the female reproductive systemto potentially treat a wide variety of women's health issues. The EZ-Gdevice includes technological advancements as a sex toy with a morerealistic experience, and the prototype utilizes sensors to determinewhat enhances the users' pleasure. The user can control the devicethrough a Bluetooth app installed on a smartphone or other portabledevice. The data will be transmitted and received from the device toand from the secure cloud using artificial intelligence (AI). The datais combined with other antonymic user preferences to improve itsoperation by increasing sexual satisfaction. There is no guaranteethat the device will be sold in the market on the date it will happen;all is subject to regulatory approvals. The early registrations arenot binding and are made to create a waiting list, so there is noguarantee that the people that registered will order the device asthere is no financial commitment from their side at this point.

For Further Information, please refer to the information available onthe 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) 833-6820

e?mail: ir@cannasoft-crm.com

For Media and Investor Relations, please contact:

David Kugelman

(866) 692-6847 Toll Free - U.S. & Canada

(404) 281-8556 Mobile and WhatsApp

dk@atlcp.com

Skype: kugsusa

Cautionary Note Regarding Forward-Looking Statements

This press release includes certain statements that may be deemed"forward-looking statements" within the meaning of Section27A of the Securities Act of 1933, as amended, and Section 21E of theSecurities Exchange Act of 1934, as amended. When used in this pressrelease, the words "may," "would,""could," "will," "intend,""plan," "anticipate," "believe,""estimate," "expect," and similar expressions areintended to identify forward?looking statements. Thoseforward-looking statements include, without limitation, statementsregarding the Company's expectations for the growth of the Company'soperations and revenue. 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 expectations expressed in suchforward-looking statements are based on reasonable assumptions, suchstatements are not guarantees of future performance, and actual eventsor developments may differ materially from those in forward-lookingstatements. Such forward-looking statements necessarily involve knownand unknown risks and uncertainties, which may cause the Company'sactual performance and financial results in future periods to differmaterially from any projections of future performance or resultsexpressed or implied by such forward-looking statements. Suchstatements reflect the Company's current views with respect to futureevents and are subject to such risks and uncertainties. Many factorscould cause actual results to differ materially from the statementsmade, including future financial performance, unanticipated regulatoryrequests and delays, final patents approval, and those factorsdiscussed in filings made by the Company with the Canadian securitiesregulatory authorities, including (without limitation) in theCompany's management's discussion and analysis for the year endedDecember 31, 2022 and annual information form dated March 31, 2023,which are available under the Company's profile at www.sedarplus.ca,and in the Company's Annual Report on Form 20-F for the year thenended that was filed with the U.S. Securities and Exchange Commissionon April 27, 2023. Should one or more of these factors occur, orshould assumptions underlying the forward-looking statements proveincorrect, actual results may vary materially from those describedherein as intended, planned, anticipated, or expected. We do notintend and do not assume any obligation to update theseforward-looking statements except as required by law. The Company hasan effective shelf registration statement as of June 2023 and isintending to raise funds in the very near future. 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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