BUCHAREST (Romania), February 22 (SeeNews) - Canada's Global Cannabis Applications Corp. (GCAC) said on Monday that it has signed a 400,000 Canadian dollars ($316,701/261,100 euro) deal to supply data technology services to Romanian Cannabidiol (CBD) producer CBD Agrocasa.
Under the contract, GCAC will provide its Efixii QR Codes on the retail packaging of CBD Agrocasa's products, it said in a press release.
GCAC's Efixii platform attests to a CBD products' lifecycle, from seed to sale and then acquires actual user-efficacy data on CBD consumption using its own app.
The agreement is for the Efixii QR Codes to be applied to an initial retail rollout of 400 litres of CBD oil tinctures, containing approximately 2 million grams of cannabis, at a SaaS license cost of 0.20 Canadian dollars per gramme.
"We are really looking forward to showcasing the power of Efixii's truthful cannabis pre-consumption grow-data, coupled with Efixii's post-consumption efficacy feedback-collection with Agrocasa's retail products," GCAC CEO Brad Moore said.
The deal is subject to a successful collection of efficacy data in the initial 400 litre run. However, both parties agree to work in good faith to expand the commercial use of Efixii across Agrocasa's harvests in the future, GCAC added.
"The way in which Efixii uses blockchain to ensure the truth behind cultivators' claims of CBD content, and the simplicity of its app-approach in capturing consumer feedback, is what drew us to license Efixii. We are HACCP compliant, Novelty Food registered and EU GMP certified, and now, by adding consumer efficacy to the mix, Efixii could allow us to better plan our strain cultivations based on a strains efficacy in a given market vertical," Agrocasa CEO Gabriel Luca said.
Established in 2019, CBD Agrocasa has the largest managed grow operations of hemp within Europe with a harvest in excess of 4,000 ha in 2020, and the potential to scale to 30,000 ha in up to 10 years.
(1 Canadian Dollar=0.6528 euro)