VANCOUVER: Global Cannabis Applications Corp. (GCAC), a leading commercial licensor of proprietary Data and AI technologies to the medical cannabis industry, announced the closing of its months-long integration, and its exclusive licensing agreement, with TraceLocker, thereby marking the final step in the commercial launch of the $5.92 million Citizen Green medical cannabis efficacy and data acquisition platform.
Since June 2017, GCAC invested $1.34 million in proprietary software research & development and $4.58 million in acquiring 3rd party software and consulting for Citizen Green. The integration of TraceLocker is the final part required for the commercial launch of Citizen Green. TraceLocker is a blockchain-secured data acquisition front-end that GCAC helped re-engineer to better align with, and leverage the 3-year investment in, the Citizen Green Data & AI suite; a perfect synergistic combination.
GCAC is now ready to license Citizen Green to medical cannabis & CBD producers & retailers.
Citizen Green’s Prescriptii patient care component, and its efficacy-driven algorithms, are also integrated with TraceLocker’s blockchain platform, thus creating what Company believes to be the world’s first complete efficacy-driven, seed-to-shop-to-seed, cannabis solution.
GCAC’s CEO, Brad Moore said, “We’re so excited to finally be able to break our silence and bring our trailblazing Citizen Green product to market. Recent months have been both amazing and hectic, as I believe this product is a game-changer for cannabis. We’re ready to license today and going live by the end of Q3 was a key component of my product execution and revenue plan.”
Brad Moore continued, “Tracelocker integration provides Citizen Green licensees in the medical cannabis & CBD sectors with the ability to compliantly sell their products into the toughest, and most lucrative, cannabis marketplaces. Citizen Green Data-access subscriptions and licensing revenues also form a significant part of my two-year execution plan. And, as part of our channel strategy, licensed channel partners that offer Prescriptii to retailers & consumers also gain paid access to our invaluable consumer data for cannabis usage, medical efficacy and sales insights.”
Under the TraceLocker license agreement, all previous and future GCAC contributions to TraceLocker remain the exclusive intellectual property (IP) of GCAC. Securing GCAC’s IP in this way creates an inherent difficulty in replicating or directly competing with such an extensive medical cannabis solution, and this is what Company believes makes Citizen Green one of the most exciting software platforms in the cannabis and RegTech space.