VANCOUVER, Sept. 11, 2019 /PRNewswire/ - CannaOne
Technologies Inc. (CSE: CNNA; OTC: CNONF; and Frankfurt: 3CT) ("CannaOne" or the
"Company"), a leading cannabis e-commerce technology
company, is pleased to provide highlights of the updates and
improvements made to its proprietary online marketplace software
developed exclusively for the cannabis industry.
Over the past 3 years CannaOne has developed its own in-house
e-commerce solution, BloomKit, for the rapidly growing cannabis
industry. This dynamic software can support multiple online
marketplaces in various jurisdictions, with intelligence to engage
and retain cannabis consumers; hence, establishing CannaOne amongst
the first companies to be able to take advantage of this
massive emerging market opportunity.
CannaOne Technologies CEO, Mr. Riby-Williams, commented "in the
past few years, we have seen an astounding amount of cannabis
derived products available in a broad range of options in various
regions throughout the world and we're still in the early stages.
We're one of the only companies that have developed our own
proprietary software, which is specifically developed for
e-commerce in the cannabis industry. Our technology is
constantly being developed, tested and optimized. The
advantage of owning our own proprietary software is that we can
swiftly adjust and develop the framework to changes in the industry
and regulations as the globe markets continue to allow sales for
CBD and THC cannabis products. Additionally, we would remain the
sole owner of our own sales and consumer data, thus allowing us to
maximize our opportunities. We remain certain that ecommerce
and online marketplaces are the most ideal outlet for cannabis
sales, and being amongst the first in this space ideally positions
us for growth"
CannaOne Software Development & Updates
Following 3 years of in-house development, CannaOne Technologies
has now completed the development of its signature versatile
customizable e-commerce software suite, BloomKit. The successful
launch of this software platform has provided CannaOne a distinct
first mover advantage in the deployment of a cannabis focused
online marketplace.
CannaOne has now established the adaptability and performance of
this e-commerce platform with the capability to complete sales,
payment processing, order fulfillment, and product delivery to the
door of consumers across the United
States. BloomKit software is strictly developed for THC and
CBD consumer products with further key focus on the collection and
use of consumer and product data insights and analytics.
Online Marijuana Sales
By 2024, Americans are expected to spend more than $22 billion a year on CBD and by 2025 as much as
$66 billion annually on cannabis
products in general. Much of that money will be spent online. As
e-commerce continues to redefine retail, convenience will be the
determining factor in cannabis consumer
preferences.1
CannaOne Technologies Proprietary Software
Adaptability on Global Scale:
- As different global markets in North
America, Europe, and
South America have noticeably
different legal and compliance requirements for the sale of
cannabis-based products, BloomKit's proprietary software is
designed in such a fashion that it can adapt to the
specific conditions of all such varying jurisdictions.
- CannaOne's proprietary system is built on the platform of open
source software and is being deployed on reputable and established
web services for integrated back end functionality. It is agile in
direction and compliance and it can pivot as required for different
vendors and markets by not being dependent on a licensed platform
for the management or vendor front end.
Focus on Big Data and Development of Artificial Intelligence
(AI):
- Leveraging our proprietary technology, product lineage, strain
origin and attributes are retained, and database managed with each
inventory item stored in a comparative manner across vendors.
- Cross vendor attribute data points allow for advanced customer
stories and profiling groups for predictive shopping tendency and
inventory management / demand prediction.
- Artificial Intelligence (AI): Machine learning is being
utilized by feeding data to multiple partners while ultimately
retaining data ownership so that the interpretation of that
information is proprietary to BloomKit.
Consumer Acquisition & Engagement:
- BloomKit provides CBD/THC based products with an additional key
focus on providing a platform of impartial education to its users
that will in turn drive the development of a community of highly
engaged and informed consumers.
- The value of a customer in the THC/CBD market is estimated to
have a lifetime value of (X); profiling that customer beyond their
specific interactions makes that value potentially exponential
compared to the competition. Each data point collected, managed and
analyzed by BloomKit allows for further extrapolation of individual
consumer tendencies and allows for a completely customized shopping
experience.
- CannaOne's Vice President of Product Development, Mr.
Dominic Stann, further stated that
"being first in the market has immeasurable value; using unique
in-depth market knowledge and a ground up specific market and
application focus BloomKit can be implemented with a customized
fulfillment and payment processing element to work to ensure best
in the industry times to market."
About CannaOne
CannaOne Technologies is a software development and technology
company that has developed its own proprietary online E-Commerce
Marketplace solution linking the rapidly expanding CBD industry to
consumers. The company's first consumer product, BloomKit, is
a software suite that delivers a complete online toolkit for a
variety of applications for companies in the sector.
In June 2019 CannaOne helped
launch BWell (thebewellmarket.com), in the United States, facilitating the sale of a
large selection of premium CBD products from numerous suppliers to
consumers. The platform includes an infrastructure to build
consumer engagement including an AI capacity to recommend products
and fulfill orders.
Additionally, to date, CannaOne has secured contracts with
underlying expectations to launch further marketplaces in
Mexico and the UK marketplace in
the next 6-12 months. The company's overall vision is to provide
comprehensive online solutions for the industry globally and is now
well-positioned to offer industry suppliers with a premium, turnkey
technology platform for their CBD products that not only sells and
markets products, but also educates and engages their community
from the ground up.
CannaOne has uniquely positioned itself to its potential
partners or clients, as not only a developer and operator of an
innovative marketplaces and turnkey software platforms, but also as
a consolidator, manager and overseer of extremely informative and
valuable cannabis related analytics and consumer
data.
1 Joresa
Blount (September 5, 2019), Online Cannabis Sales Are About
To Flourish With The Rise Of Cannabis Marketplaces,
Forbes
|
For more information about CannaOne Technologies,
visit www.cannaonetechnologies.com
OR facebook.com/BloomKit/ OR
twitter.com/bloomkitco OR
instagram.com/bloomkitco/
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS
REGULATIONS SERVICES PROVIDERS HAVE REVIEWED OR ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS
RELEASE.
The securities referred to herein will not be registered under
the United States Securities Act of 1933, as amended, and may not
be offered or sold in the United
States absent registration or an applicable exemption from
registration requirements.
FORWARD-LOOKING STATEMENTS: Certain information contained
herein may constitute "forward-looking information" under Canadian
securities legislation. Generally, forward-looking information can
be identified by the use of forward-looking terminology such as,
"will be", or variations of such words and phrases or statements
that certain actions, events or results "will" occur.
Forward-looking statements are based on the Company's estimates and
are subject to known and unknown risks, uncertainties and other
factors that may cause the actual results, level of activity,
performance or achievements of CannaOne to be materially different
from those expressed or implied by such forward-looking statements
or forward-looking information, including capital expenditures,
other costs or implied future forecasts. The Company further again
cautions that all forward-looking statements are inherently
uncertain, and that actual performance may be affected by a number
of material factors, many of which are beyond the Company's
control. Such factors include, among other things: risks and
uncertainties relating to the Company's limited operating history
and the need to comply with environmental and governmental
regulations. In addition, marijuana remains a Schedule I drug under
the United States Controlled Substances Act of 1970. Although
Congress has prohibited the US Justice Department from spending
federal funds to interfere with the implementation of state medical
marijuana laws, this prohibition must be renewed each year to
remain in effect. There can be no assurance that such
statements will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
statements. Accordingly, readers should not place undue reliance on
forward-looking statements and forward-looking information.
CannaOne will not update any forward-looking statements or
forward-looking information that are incorporated by reference
herein, except as required by applicable securities laws.
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SOURCE CannaOne Technologies Inc.