Cannamerx Announces Technological Partnership

Waterloo, Ontario May 13, 2021 (Issuewire.com) – Cannamerx today announced an agreement with Conversance Inc., a privately-held, blockchain technology company from Waterloo, Ontario, under which Conversance will provide critical technology and expertise to further secure Cannamerx’s position as the leading trading system in the Canadian and global cannabis market.

“This deal marks the next stage in our strategy to provide the global cannabis industry with a modern trading system that will help create more diverse and flexible supply chains regionally and globally,” said Dietwald Claus, Founder and Executive Chair of Cannamerx. “Our goal at Cannamerx is to enable current and future market participants to react faster and more effectively to changes in technology, regulatory requirements and – most importantly – consumer demand,” he added, “and in Conversance we have found a partner that offers the right team, technology, and values needed to bring this vision to life, and we are very excited to be working with them.”

Launched in 2017 as the first fully automated auction platform for the Canadian cannabis industry, Cannamerx has since expanded its services to more than twenty countries in all major cannabis and hemp markets. In addition, Cannamerx offers “white glove” concierge services to both domestic and international clients.

“By offering both an easy-to-use and automated trading platform, as well as personalized trading services, we are able to offer each of our more than four hundred clients exactly the kind of service they need,” said Cannamerx CEO Michel Dab. “We are in a unique position to understand the needs and requirements of this industry better than anyone else, and with Conversance we will be able to translate this knowledge and experience into a technology that will become a key element of the global cannabis industry,” he added.

“The regulated nature of cannabis around the world, and the need for provable provenance makes compliance and commerce unnecessarily complex and costly,” said Joseph Chen, founder and CEO of Conversance. “Distributed ledger technology and machine learning have the potential to help greatly simplify record-keeping and resource planning to ensure accuracy, compliance, ease of use and actionable insights without compromising secrecy, in a secretive industry. I am happy to have found in Cannamerx a partner that understands our approach to the technology, and how it will revolutionise the industry. They understand cannabis, trading, and technology in a way few do.”

“Cannamerx is at the forefront of helping the cannabis industry overcome many of the challenges it faces as it is transitioning from the fully vertically integrated model of its early years into a mature industry that can rely on sophisticated and flexible global supply chains, with great benefits to patients and consumers,” said Paul Rosen, Executive Chairman of GlobalGo, one of the leading cannabis consulting firms in the world. “I have known and worked with the Cannamerx team for several years now, and I am impressed by their drive and vision. This partnership with Conversance is just one more example of that.”

Conversance

Conversance is a privately-held blockchain technology company that leverages machine learning and distributed ledger technologies to power data and process collaboration between competitive enterprises. Conversance’s Chronicle platform is a proprietary, permissionless, leaderless distributed ledger with very high transaction rates and low latency. Conversance is based in Waterloo, Canada.

Cannamerx

Launched in 2017, Cannamerx is the worldwide leading cannabis and hemp trading system, wholly owned and operated by 3955 Trading Inc. Serving hundreds of companies in 21 countries on five continents, Cannamerx offers a wide range of listings and auctions for products and services designed to make operating in the legal cannabis industry easier.

FORWARD LOOKING STATEMENT: This press release contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to management. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedar.com).