(TheNewswire)
Vancouver, British Columbia – TheNewswire - June 15, 2023 - BYNDCannasoft Enterprises Inc. (Nasdaq: BCAN )(CSE: BYND ) (“ BYND Cannasoft ” orthe “ Company ”) announced today that itsregistration statement on Form F-3 has been declared effective by U.S.SEC. The Form F-3 is a registration statement and shelf prospectus(together, the “ Prospectus ”).
The Prospectus was filed to provide the Company withfinancial flexibility and efficient access to U.S. capital markets topursue its initiatives. A copy of the Prospectus is available underthe Company’s profile on SEDAR at www.sedar.com .
During the period that the Prospectus, including anyamendments thereto, remains effective, the Company will be permittedto offer up to US$15,000,000 in units of itscommon shares and warrants (collectively, the“ Securities “).
These Securities will not be qualified for sale inCanada and will not be offered or sold in Canada, directly orindirectly, on behalf of the Company.
If any Securities are offered under the Prospectus, theterms of any such Securities and the intended use of the net proceedsresulting from such offering will be established at the time of anyoffering and will be described in a prospectus supplement filed withthe SEC at the time of such offering.
The specific terms of the Securities with respect to aparticular offering will be set out in the applicable ProspectusSupplement and may include, where applicable (i) in the case of CommonShares, the number of Common Shares offered, the offering price, andany other terms specific to the Common Shares being offered, (ii) inthe case of Warrants, the offering price, the designation, the numberand the terms of the Common Shares purchasable upon exercise of theWarrants, any procedures that will result in the adjustment of thesenumbers, the exercise price, the dates and periods of exercise and anyother terms specific to the Warrants being offered, and (iii) in thecase of Units, the number of Units offered, the offering price of theUnits, the number, designation and terms of the Common Shares andWarrants comprising the Units and any procedures that will result inthe adjustment of those numbers and any other specific termsapplicable to the offering of Units. Where required by statute,regulation or policy, and where Securities are offered in currenciesother than United States dollars, appropriate disclosure of foreignexchange rates applicable to the Securities will be included in theProspectus Supplement describing the Securities.
The Prospectus constitutes a public offering of theSecurities only in those jurisdictions where they may be lawfullyoffered for sale and only by persons permitted to sell the Securitiesin those jurisdictions. The Company may offer and sell Securities to,or through, underwriters or dealers and also may offer and sellcertain Securities directly to other purchasers or through agentspursuant to exemptions from registration or qualification underapplicable securities laws. A Prospectus Supplement relating to eachissue of Securities will set forth the names of any underwriters,dealers, or agents involved in the offering and sale of the Securitiesand the terms of the offering of the Securities, the method ofdistribution of the Securities including, to the extent applicable,the proceeds we will receive and any fees, discounts or any othercompensation payable to underwriters, dealers or agents and any othermaterial terms of the plan of distribution.
The Company’s Common Shares are currently traded onthe Nasdaq Capital Market under the symbol “BCAN.” On June 14,2023, the closing price of our Common Shares on NASDAQ was US$3.49 perCommon Share.
The Canadian Securities Exchange hasnot reviewed, approved, or disapproved the content of this newsrelease.
About BYND Cannasoft Enterprises Inc.
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 by making it amore organized, accessible, and price-transparent market. The CannabisCRM System will include a Job Management (BENEFIT) and a module system(CANNASOFT) for managing farms and greenhouses with varied crops. BYNDCannasoft owns the patent-pending intellectual property for the EZ-Gdevice. This therapeutic device uses proprietary software to regulatethe flow 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. TheEZ-G device includes technological advancements as a sex toy with amore realistic experience and the prototype utilizes sensors todetermine what enhances the users' pleasure. The user can control thedevice through a Bluetooth app installed on a smartphone or otherportable device. The data will be transmitted and received from thedevice to and from the secure cloud using artificial intelligence(AI). The data is combined with other antonymic user preferences toimprove its operation by increasing sexual satisfaction.
For Further Information please refer to information available on the Company’swebsite: www.cannasoft-crm.com , theCSE’s website: www.thecse.com/en/listings/life-sciences/bynd-cannasoft-enterprises-inc and on SEDAR: www.sedar.com .
Gabi Kabazo
Chief Financial Officer
Tel: (604) 833-6820
e?mail: ir@cannasoft-crm.com
Cautionary Note RegardingForward-Looking Statements
This press release includes certain statements that maybe deemed “forward-looking statements” including statementsregarding the filing of a final Prospectus. All statements in thisrelease, other than statements of historical facts, that addressfuture events or developments that the Company expects, areforward-looking statements. Although the Company believes theexpectations expressed in such forward-looking statements are based onreasonable assumptions, such statements are not guarantees of futureperformance, and actual events or developments may differ materiallyfrom those in forward- looking statements. Suchforward-looking statements necessarily involve known and unknown risksand uncertainties, which may cause the Company’s actual performanceand financial results in future periods to differ materially from anyprojections of future performance or results expressed or implied bysuch forward-looking statements. Forward-looking statements in thispress release include that the Company will (a) offer up to US$15,000,000 in Securities, (b) file anyprospectus supplements or (c) conduct offering of Securities under theProspectus and supplements. Such statementsreflect the Company's current views with respect to future events andare subject to such risks and uncertainties. Many factors could cause actual results to differ materiallyfrom the statements made, including unanticipated regulatory requestsand delays, final patents approval, and those factors discussed infilings made by the company with the Canadian securities regulatoryauthorities, including (without limitation) in the company'smanagement's discussion and analysis for the year ended December 31,2022 and annual information form dated March 31, 2023, which areavailable under the company's profile at www.sedar.com, and in filingsmade with the U.S. Securities and Exchange Commission. Should one or more of these factors occur, or shouldassumptions underlying the forward-looking statements prove incorrect,actual results may vary materially from those described herein asintended, planned, anticipated, or expected. We do not intend and donot assume any obligation to update these forward?lookingstatements, except as required by law. Any such forward-lookingstatements represent management's estimates as of the date of thispress release. While we may elect to update such forward-lookingstatements at some point in the future, we disclaim any obligation todo so, even if subsequent events cause our views to change.Shareholders are cautioned not to put undue reliance on suchforward?looking statements.
This press release does notconstitute an offer to sell or a solicitation of an offer to buy anyof the securities in Canada.
Not for Distribution in theU.S.
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