First joint opportunity involves the manufacturing by Foria of the EZ-G Device therapeutic capsules
VANCOUVER, British Columbia, September 26, 2023 (THE NEWSWIRE) -- BYND Cannasoft Enterprises Inc. (Nasdaq: BCAN, CSE: BYND) (“BYND Cannasoft”), an Israeli-based integrated software and cannabis company, and Foria, a plant-based sexual wellness company, today announced the signing of a Memorandum of Understanding (MOU) outlining plans to form a strategic alliance to enhance the understanding and collaborate on opportunities available in the fast growing female wellness industry.
Originally launched in 2014 to fill long-standing unmet needs in the sexual wellness market, Foria sets the standards for clean, innovative and highly effective formulas. The alliance plans to integrate Foria’s knowledge and experience in the sexual wellness space, along with the brand’s beloved organic botanical and CBD-based products, with BYND Cannasoft’s patent pending EZ-G therapeutic solution device, which utilizes AI to help address women’s health issues. Foria’s team plans to develop oil capsules designed for use in BYND Cannasoft’s EZ-G Devices, which leverage 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. The device is expected to provide users with a personalized experience that meets various needs related to sexual pleasure and potentially address a wide variety of women’s health issues.
“At BYND Cannasoft, we are thrilled to announce this collaboration with Foria,” says Yftah Ben Yaackov, CEO and Director of BYND Cannasoft. “Foria has long been an innovator in the women’s sexual health and wellness market, incorporating the benefits of CBD and other natural oils into their products, so partnering with them to create the pods needed for our EZ-G Device is an exciting opportunity. This partnership is another affirmation of our commitment to delivering exceptional products and experiences to our customers.”
“We’re pleased to be working with BYND Cannasoft in our joint quest to further innovate within the sexual wellness space,” says Jon Brandon, CEO and co-founder of Foria. “It’s exciting to partner with like-minded companies that value progressive approaches to addressing longstanding need states. The leading-edge technology that BYND Cannasoft brings to our relationship is expected to open the door to a number of possibilities when it comes to enhancing intimacy, pleasure and so much more.”
About Foria
Foria is an innovative health and sexual wellness company creating life-changing, plant-based sexual wellness formulas for intimacy, period relief and daily wellbeing. Rooted in the belief that pleasure is your nature, Foria is on a mission to make more pleasure accessible to more people, while maintaining the highest standards of transparency – for people, plants, and the planet.
Through an unwavering commitment to clean ingredients, sex education, and sustainable packaging, Foria crafts formulas rooted in the sensuality of nature and designed to connect you to your body. Offerings include Awaken, Foria's hero arousal oil, a luxurious Sex Oil, relaxing Bath Salts, Melts, tension-easing Salve for period relief and and much more.
Foria products go through rigorous development and ingredient testing to meet a standard not often seen in the industry – and it is one of the only brands that provides transparent third-party testing reports for all of its ingredients. During this process, if any ingredient doesn't meet Foria's standards, the product is reformulated and/or the ingredient is sourced from a different supplier. Foria also provides a Certificate of Analysis (COA) for every product they sell, furthering their commitment to the health and wellness of its community.
Most recently, as part of Foria's mission to close the pleasure gap and make pleasure and wellness accessible to all, the brand has expanded its line to include botanical CBD-Free products: including an arousal oil with botanicals and a sensual breast oil.
For media inquiries, please contact: foria@rachelvandolsen.com
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 our 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.
For Further Information, please refer to information available on the Company’s website: www.cannasoft-crm.com, the CSE’s website: www.thecse.com/en/listings/life-sciences/bynd-cannasoft-enterprises-inc and on SEDAR+: www.sedarplus.ca.
Gabi Kabazo
Chief Financial Officer
Tel: (604) 833-6820
e‐mail: ir@cannasoft-crm.com
For Media and Investor Relations, please contact:
TraDigital IR
Tel: (212) 389-9782 x.108
Email: colette@tradigitalir.com
Cautionary Note Regarding Forward-Looking Statements
This press release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts, that address future events or developments that the Company expects, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual events or developments may differ materially from those in forward-looking statements. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause the Company’s actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. Such statements reflect the Company's current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause actual results to differ materially from the statements made, including future financial performance, unanticipated regulatory requests and delays, final patents approval, and those factors discussed in filings made by the company with the Canadian securities regulatory authorities, including (without limitation) in the company's management's discussion and analysis for the year ended December 31, 2022 and annual information form dated March 31, 2023, which are available under the company's profile at www.sedar.com, and in the Company’s Annual Report on Form 20-F for the year then ended that was filed with the U.S. Securities and Exchange Commission on April 27, 2023. Should one or more of these factors occur, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward‐looking statements, except as required by law. Any such forward-looking statements represent management's estimates as of the date of this press release. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change. Shareholders are cautioned not to put undue reliance on such forward‐looking statements.
