Canbud Advances Blockchain for Genetic and Consumer Feedback Information Management
Toronto, Ontario--(Newsfile Corp. - January 18, 2021) - Canbud Distribution Corp. (CSE: CBDX) (FSX: CD0) ("Canbud" or the "Company") is pleased to announce it will advance its development of a decentralized based consumer feedback and chain of custody platform for its psychedelics/functional mushrooms, CBD and plant-based product offerings aptly named "CanbudProve".
Canbud is a science and tech centric company that provides solutions that embrace the digital economy. The marriage of DNA and blockchain will serve to provide information on product origins, quality, and consumer feedback legitimacy. Feedback is instrumental in developing the best product, and reviews will become more honest and useful for both the business and consumer, to not only make better decisions, but to also engage in more constructive and meaningful dialogue.
Blockchain guarantees that information will be secure, immutable, transparent, auditable, and incorruptible, and this will enhance consumer trust for product offerings.
The platform will be built to be compliant with Personal Health Information Protection Act (PHIPA) and Personal Information Protection and Electronic Documents Act (PIPEDA), as well as the US Health Insurance Portability and Accountability Act (HIPAA) as Canbud readies for their US expansion.
As consumer trusted data is accumulated, Q based machine learning prediction modeling will enable Canbud to infer what is most suitable for consumer needs. The ultimate goal is providing data driven health outcomes to improve the quality of life.
Robert Tjandra, COO, comments: "Consumers drive the economy. Blockchain technology will drive both product and consumer feedback legitimacy. Canbud has a health and wellness philosophy that encompasses cbd, psychedelics/functional mushrooms and plant-based protein products. It is our intention to derive greater product metrics by leveraging a dynamic technology that ultimately gives customers exactly what they need."
The company has granted 300,000 incentive stock options to a consultant of the corporation. The options have an exercise price of 22 cents and a term of 4 years expiring on January 18, 2025.
Pursuant to the press release of January 7, 2021, $100,000 worth of stock at a deemed share price of 16.5 cents was issued. The shares will be subject to a statutory hold period expiring on the date that is four (4) months and one day from issuance.
About Canbud Distribution Corp.
Canbud Distribution Corp is a science and technology health and wellness company that encompasses plant based, psychedelic pharmaceutical and non-psychedelic nutraceutical, and hemp cannabinoids (CBD) verticals.
For further information, please contact:
Robert Tjandra, President and COO
Tel: 1 416 847 7312
Notice Regarding Forward Looking Information
Certain information set forth in this news release may contain forward-looking information that involves substantial known and unknown risks and uncertainties. This forward-looking information is subject to numerous risks and uncertainties, certain of which are beyond the control of the Corporation, including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward looking information. The Corporation undertakes no obligation to update forward-looking information except as otherwise may be required by applicable securities law.
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/72214