Positive opinion from ISA-Israel patent office Provides the ability to file a patent application under the Patent Prosecution Highway (PPH) in the US
December 18 2023 - 8:30AM
BYND Cannasoft Enterprises Inc. (Nasdaq: BCAN) (CSE: BYND) ("BYND
Cannasoft" or the "Company") announced today a significant
milestone in its intellectual property strategy as its Zigi Carmel
Initiatives & Investments LTD subsidiary filed a national phase
application for Its EZ-G Device. A national phase application
corresponding to inventive concept III of PCT/IL2022/050783 was
filed on December 7, 2023, as a U.S. utility patent application
under the Patent Prosecution Highway (PPH) and has been allocated
the application number 18/567,766. The Company also announced
filing in 11 additional jurisdictions, including the European
Patent Office (EPO), which includes 38 European countries.
BYND Cannasoft also announces the following expansion of its
intellectual property strategy:
- Provisional Patent
ApplicationsIn addition to the PCT applications, BYND
Cannasoft has filed two provisional patent applications in the US,
laying the foundation for future patent protection. The Company
plans to file corresponding PCT applications within 12 months.
- Design
ApplicationsBYND Cannasoft has expanded its intellectual
property strategy with two design applications filed in China,
emphasizing the importance of ornamental design protection for
functional items.
- Patent Prosecution Highway
(PPH)The Company has strategically pursued accelerated
processing through the Patent Prosecution Highway (PPH) for one of
its inventions, aligning with international efforts to promote
work-sharing among patent offices.
Future Steps and Collaboration
BYND Cannasoft remains committed to securing robust intellectual
property protection for its innovative products. The Company is
actively collaborating with legal experts, including Reinhold Cohn
and Partners, to navigate the complex landscape of patent
prosecution and ensure optimal outcomes.
Yftah Ben Yaackov, CEO and Director of BYND Cannasoft said, “We
believe these benefits of expanding our intellectual property
strategy will lead to a much higher valuation for our shareholders.
Understanding how to leverage an IP properly and having a strategic
plan of what you want to accomplish helps put our Company in a
superior position.”
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 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.
For Further Information please refer to
information available on the Company’s website:
www.cannasoft-crm.com, the CSE’s
website: www.thecse.com/en/listings/life-sciences/bynd-cannasoft-enterprises-inc and
on SEDAR+: www.sedarplus.ca.
Gabi Kabazo
Chief Financial Officer
Tel: (604) 833-6820
e‐mail: ir@cannasoft-crm.com
For Media and Investor Relations, please contact:
David L. Kugelman
(866) 692-6847 Toll Free - U.S. & Canada
(404) 281-8556 Mobile and WhatsApp
dk@atlcp.com
Skype: kugsusa
Cautionary Note Regarding Forward-Looking
Statements
This press release includes certain statements that may be
deemed "forward-looking statements" including statements regarding
the filing of a final Prospectus. All statements in this release,
other than statements of historical facts, that address future
events or developments that the Company expects, are
forward-looking statements including but not limited to intended
business objectives and the expected timelines to accomplish those
objectives. Although the Company believes the expectations
expressed in such forward-looking statements are based on
reasonable assumptions, such statements are not guarantees of
future performance, and actual events or developments may differ
materially from those in forward-looking statements. Such
forward-looking statements necessarily involve known and unknown
risks and uncertainties, which may cause the Company's actual
performance and financial results in future periods to differ
materially from any projections of future performance or results
expressed or implied by such forward-looking statements. Such
statements reflect the Company's current views with respect to
future events and are subject to such risks and uncertainties. Many
factors could cause actual results to differ materially from the
statements made, including unanticipated regulatory requests and
delays, final patents approval, and those factors discussed in
filings made by the Company with the Canadian securities regulatory
authorities, including (without limitation) in the Company's
management's discussion and analysis for the year ended December
31, 2022 and annual information form dated March 31, 2023, which
are available under the Company's profile at www.sedar.com, and in
the Company's Annual Report on Form 20-F for the year then ended
that was filed with the U.S. Securities and Exchange Commission on
April 27, 2023. Should one or more of these factors occur, or
should assumptions underlying the forward-looking statements prove
incorrect, actual results may vary materially from those described
herein as intended, planned, anticipated, or expected. We do not
intend and do not assume any obligation to update these
forward‐looking statements except as required by law. Any such
forward-looking statements represent management's estimates as of
the date of this press release. While we may elect to update such
forward-looking statements at some point in the future, we disclaim
any obligation to do so, even if subsequent events cause our views
to change. Shareholders are cautioned not to put undue reliance on
such forward‐looking statements.
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