BYND Cannasoft (NASDAQ: BCAN) (CSE: BYND), an Israeli-based integrated software and cannabis company, has announced the closing of the previously disclosed registered direct offering with an institutional investor of approximately $1.5 million common shares and investor warrants at a price of $0.52 per common unit. The company secured approximately $1.5 million in aggregate gross proceeds and expects to use the net proceeds from the offering, together with its existing cash, for general corporate purposes and working capital. The transaction closed on Dec. 21, 2023. Aegis Capital Corp. is acting as exclusive placement agent for the offering. Louis A. Brilleman, P.C. is acting as counsel to the company. Kaufman & Canoles, P.C. is acting as counsel to Aegis Capital Corp.
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About BYND Cannasoft Enterprises Inc.
BYND Cannasoft Enterprises is an Israeli-based integrated software and cannabis company. BYND Cannasoft owns and markets “Benefit CRM,” a proprietary customer relationship management (“CRM”) software product enabling small and medium ‐ sized businesses to optimize their day ‐ to ‐ day business activities such as sales management, personnel management, marketing, call center activities, and asset management. Building on its 20 years of experience in CRM software, BYND Cannasoft is developing an innovative new CRM platform to serve the needs of the medical cannabis industry by making it a more organized, accessible and price-transparent market. The Cannabis CRM System 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 the EZ-G device. This therapeutic device uses proprietary software to regulate the flow of low concentrations of CBD oil, hemp seed oil and other natural oils into the soft tissues of the female reproductive system to potentially treat a wide variety of women’s health issues. The EZ-G device includes technological advancements as a sex toy with a more realistic experience and the prototype utilizes sensors to determine what enhances the users’ pleasure. The user can control the device through a Bluetooth app installed on a smartphone or other portable device. The data will be transmitted and received from the device to and from the secure cloud using artificial intelligence (“AI”). The data is combined with other antonymic user preferences to improve its operation by increasing sexual satisfaction.
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