BYND Cannasoft (NASDAQ: BCAN) (CSE: BYND), an Israeli-based integrated software and cannabis company, recently announced the closing of a firm commitment underwritten public offering with gross proceeds to the company of approximately $7.0 million. BYND Cannasoft expects to use the net proceeds from the offering for general corporate purposes and working capital. In addition, the company has granted Aegis Capital Corp. a 45-day option to purchase up to an additional 15% of the total number of common shares and/or pre-funded warrants and/or Series A warrants and/or Series B warrants sold in the offering, solely to cover over-allotments, if any. On March 14, 2024, Aegis partially exercised its over-allotment option by purchasing 52,500,000 Series A and Series B warrants. Aegis Capital Corp. acted as the sole book-running manager for the offering. Louis A. Brilleman, Esq. acted as U.S. counsel and Owen Bird Law Corporation acted as Canadian counsel to the company, and Kaufman & Canoles, P.C. acted as U.S. 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 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. Commercialization of the EZ-G device is subject to receipt of regulatory approvals. For further information about the company, visit www.Cannasoft-CRM.com.
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