Cannabis Global Announces Metrc API Integration for Comply Bag™ Cannabis Transport System - Targets Growing National Cannabis Market in 2021
LOS ANGELES, CA / ACCESSWIRE / December 29, 2020 / Cannabis Global, Inc. (the "Company") (OTC PINK:CBGL), an innovation-oriented company investing in disruptive cannabis and hemp-related technologies, today announces a significant enhancement to its upcoming Comply Bag™ Cannabis Transport System via the addition of a fully integrated application that will allow shippers and receivers to track, monitor and confirm important aspects of cannabis shipments. Comply Bag's unique app design will integrate with its API (Application Programming interface) published by Metrc, the most trusted and leading provider of cannabis regulatory technology in the United States.
Cannabis Global tailored the app to address multiple state regulatory regimes, including California's Metrc track-and-trace system used to track cannabis activity and movement across distribution channels, while preserving flexibility in the architecture to allow for interstate tracking of cannabis as national cannabis markets develop further in 2021.
"Metrc supports over 15,000 cannabis-related business licenses and 15 U.S. states, including California. This disruptive technology is a solution that addresses a key component of the infrastructure of the cannabis industry (safe transportation), as well as a consistent and compliant storage system," commented Arman Tabatabaei, CEO of Cannabis Global. "We are designing physical features into the Comply Bag™ system to hold Metrc generated tags mandated by many U.S. states to accompany cannabis from seed stage through final sale and we are now taking integration toward the natural step to utilize Metrc's publically available API within the Comply Bag™ shipper and receiver app."
Mr. Tabatabaei continued, "We decided to invest in an application that will allow shippers and receivers to monitor shipments via their smartphones, whether Android or iOS operating systems. We plan to roll the application out as soon as it passes beta testing; however, Comply Bag™ product is scheduled to be available January of 2021. We feel this ability is already highly-desired within the lucrative California market, and we expect it to be a requirement when interstate commerce in cannabis is ultimately legalized, which we believe will be soon," commented Mr. Tabatabaei.
In November, the Company announced its acquisition of Ethos Technology LLC, a Los Angeles startup specializing in ultra-secure cannabis transport containers for the commercial cultivation, processing, and distribution markets. Under the terms of the agreement, which closed on November 16, 2020, Cannabis Global acquired all technologies, IP and assets of Ethos. The Company believes the current generation of cannabis transport and security products has not advanced to keep pace with the industry. All states where cannabis has been legalized require cultivators, processors, and distributors to track all shipments, and shippers need to ensure the exact contents of what is shipped to be received by the intended recipient. The new products to be released by Cannabis Global are designed to meet these needs.
Ethos Technology was founded by cannabis industry veteran and Cannabis Global co-founder, Edward Manolos. He noted that although other aspects of the sector were maturing, the industry standard was to store cannabis in turkey bags and mason jars. Mr. Manolos worked collaboratively with many top state and local regulators and politicians to help design a solution for safe and compliant transportation. Mr. Manolos is one of the most accomplished pioneers in the medical marijuana industry, having opened the very first medical marijuana dispensary in Los Angeles County in 2004, called CMCA. He is also credited with starting Los Angeles' first medical marijuana farmers' market referred to as "The California Heritage Market," which attracted local and international media attention and is a senior member of the Board of Directors of Marijuana Company of America, Inc. (OTC: MCOA).
About Cannabis Global, Inc.
Cannabis Global, Inc., formerly known as MCTC Holdings, Inc., is a fully audited and reporting Company with the U.S. Securities & Exchange Commission, trading with the stock symbol CBGL. The Company is an emerging force in the area of cannabinoid sciences and highly bioavailable hemp and cannabis infusion technologies. The Company does not engage in the production, distribution, or sales of any controlled substances, including marijuana. The Company has an actively growing portfolio of intellectual property having filed six patents in the areas of cannabinoid delivery systems and cannabinoid polymeric nanoparticles. The Company markets its consumer products under the Hemp You Can Feel™ brand name. Cannabis Global launched its Project Varin early in 2020, to develop new delivery methods for rare cannabinoid Tetrahydrocannabivarin (THV-C) and to develop products based on this cannabinoid.
This news release contains "forward-looking statements" which are not purely historical and may include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities and words such as "anticipate", "seek", intend", "believe", "estimate", "expect", "project", "plan", or similar phrases may be deemed "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects, the future U.S. and global economies, the impact of competition, and the Company's reliance on existing regulations regarding the use and development of cannabis-based products. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-k, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission. For more information, please visit www.sec.gov
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SOURCE: Cannabis Global, Inc.
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