Global Cannabis Applications Corp (GCAC) (CSE:APP, FRA:2FA, OTCQB:FUAPF), a leading developer of innovative data technologies for the cannabis industry, is pleased to announce it will be participating in a Lithuanian trade mission to China later this month. GCAC will accompany members of the Lithuanian Finance Ministry on the trade mission with two main events: the China Beijing International Fair for Trade in Services and the 2018 China E-Commerce Convention taking place in Beijing.
“I am extremely honoured to join Mr. Vilnius Sapoka, the Minister of Finance of Lithuania, on this very important trade mission to China,” said Brad Moore, CEO of GCAC. “This is a significant opportunity to promote and showcase the strengths and capabilities of the Citizen Green platform on an international stage. I look forward to participating in this trade mission and establishing relationships with local government, academia, and business leaders for potential expansion to the Chinese market place. Our Citizen Green platform is fully scalable and offers significant medical value to the most-populous country in the world with growing medical needs.”
The 2018 China Beijing International Fair for Trade in Services (CIFTIS) will be held in the China National Convention Center from May 28 to June 1, 2018, and will focus on development and innovation in China’s service industry, including science, technology, finance, healthcare and other key service areas. Co-sponsored by the Ministry of Commerce and the Beijing government, it is supported by the World Trade Organization, the United Nations Conference on Trade and Development, and the Organization for Economic Cooperation and Development. CIFTIS is one of the world’s largest service trade fairs that covers all major service areas.
Cannabis in China has a long history with ancient texts referring to its medicinal qualities. While medical cannabis is still prohibited in China, local governments are taking steps to liberalize its use. Furthermore, China is the world’s second-largest producer of industrial hemp, the low-THC strain of Cannabis sativa. Its stems are used to make high-quality fabric, leaves are used to make pharmaceutical compounds, and seeds are used for food products and drinks. According to the World Intellectual Property Organization, Chinese businesses have filed over half of more than 600 worldwide patents related to medical cannabis.
As China moves toward a more liberalized market for medical cannabis, it represents a significant opportunity to GCAC. China is the world’s most-populous country, and like most large and developing countries it is struggling to control the cost of healthcare due to an aging population. Medical cannabis represents a real alternative to expensive pharmaceuticals used for a long list of ailments. GCAC’s Citizen Green platform can help make medical cannabis safer and more accessible in China.
About Global Cannabis Applications Corp.
Global Cannabis Applications Corp. is a global leader in designing, developing, marketing and acquiring innovative data technologies for the cannabis industry. The Citizen Green platform is the world’s first end-to-end – from patient to regulator – medical cannabis data solution. It uses six core technologies: mobile applications, artificial intelligence, regtech, smart databases, blockchain and digital reward tokens, to qualify candidates for clinical studies. These technologies facilitate the proliferation of digital conversations by like-minded people in the medical cannabis community. Managed by digital and cannabis industry experts, GCAC is focused on viral global expansion by providing the best digital experience in the cannabis market.
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This news release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of GCAC. Forward-looking information is based on certain key expectations and assumptions made by the management of GCAC. Although management of the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because GCAC can give no assurance that they will prove to be correct. Forward-looking statements contained in this news release are made as of the date of this news release. GCAC disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
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