Tickers: XCNQ:APP, PINX:FUAPF
Tags: Medicinal Marijuana
Vancouver, British Columbia, Canada / TheNewswire / January 12, 2018 – Global Cannabis Applications Corp. ("GCAC" or the "Company") (CSE:APP, FWB:2FA, OTCQB: FUAPF), a leading developer of innovative data technologies for the cannabis industry, is pleased to announce that it has joined the Medical Cannabis Counsel of Australia as a premiere member. The counsel is an industry body, made up of healthcare professionals, researchers, medical cannabis producers and manufacturers, which develops best practices and standards for producing, supplying and distributing medical cannabis products in Australia.
"As an active participant in the emerging Australian medical cannabis industry, the Medical Cannabis Counsel is diligently working to engage government regarding related policies," said Jason Webb, Managing Director, GCAC Australian Operations. "Our membership in the counsel will allow Global Cannabis to have a voice as we work to create a robust and dynamic medical cannabis industry to supply patients in Australia and around the world."
"With the Australian government’s recent announcement to allow the export of medical cannabis and its goal of becoming a leading producer of medical cannabis worldwide, we join the prestigious Medical Cannabis Counsel at a very important time," said Brad Moore, Chief Executive Officer of GCAC. "The Counsel has taken a proactive approach with respect to the legalization of medical cannabis in Australia and I applaud the work they have done. I look forward to continuing the dialogue and working closely with the Counsel as we roll out our Citizen Green data platform in Australia. As the market matures in Australia, we will be able to provide valuable insight into the development of the marketplace.
The Australia government has embraced the medical cannabis industry and is taking the necessary steps to establish a robust marketplace. In November 2016, the Australian Therapeutic Goods Administration (TGA) moved medical cannabis from a Schedule 9 to a Schedule 8 product, immediately creating a legal market for the sale and commercialisation of medical cannabis in Australia. More recently, in January 2018, the Australian government announced that it intends to remove the export ban on cannabis products in February 2018 and allow the export of cannabis products worldwide.
When Australia officially becomes an exporter of medical cannabis it will join a select club – only Canada, the Netherlands and Uruguay have legalized the export of medical cannabis. Israel intends to do so in the near future.
About the Medical Cannabis Counsel
The Medicinal Cannabis Council provides a unifying voice for the Australian medical cannabis industry. We provide a framework for best practice standards and support the Australian industry in becoming a world leader in the research and production of safe, high-quality, scientifically backed medical cannabis products. Please visit us online at www.medicalcannabiscouncil.org.au.
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, reg tech, 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 medical cannabis. 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.
The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy and accuracy of this information.
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