Kaneh Bosm BioTechnology Delivers the First Two BioCanna ADM Automated Cannabis Retail System (“Kiosk”) to MedSmart Dispensary

VANCOUVER, BC / ACCESSWIRE / May 1, 2015 / Kaneh Bosm BioTechnolgy Inc. (CSE: KBB) (“Kaneh Bosm” or the “Company”) is pleased to announce that it has delivered the first two BioCanna ADM kiosks to MedSmart Dispensary Inc. Deployment of the Kiosks to their ultimate retail locations will take place over the next few weeks. Details on specific locations will be forthcoming.

The BioCanna ADM retail system offers a solution to many of the concerns related to controlling access to ensure that only properly identified and qualified clients can obtain marijuana products. With strict regulations in place throughout the North American Cannabis market the BioCanna ADM could offer Cannabis retailers a means to meet and surpass regulated requirements. The BioCanna ADM retail system is unique in this sector as it encompasses the 5 crucial elements identified by Ret. Major Neill Franklin, executive director of LEAP for safe, reliable and successful automated Cannabis retail. Those elements are:

– access control (no minors or un-prescribed patients)
– purchase volume control (monthly or daily quantity limits)
– secure storage of product (climate controlled and theft proof)
– transactional oversight by regulators via software monitoring
– a proven track record in a controlled substance/products environment

The proprietary software system which operates the BioCanna ADM offers regulatory bodies the ability to dynamically observe transactions in real-time at every Kiosk located within their legal jurisdiction. This oversight may allow regulators the ability to identify problem areas such as by repeated failed access attempts or repeated over-volume access attempts. Regulators will have the ability to suspend account holders for these purposes or this may indicate a stolen ID. Furthermore where retail sales tax regulations are in place governing bodies will be able to actively report on revenues thereby allowing for enhanced cash flow models.

Presently, there are more than 2,000 of this type of kiosk operating across western Europe with many in the retail pharmaceutical dispensing marketplace. The BioCanna ADM has been field tested and proven in a controlled substance environment such as retail pharmaceuticals in both prescription and over-the-counter products.

Marijuana vending machines have already been proven to be highly profitable in markets such as the Vancouver Cannabis dispensary market. Last June the BC Pain Society (BCPS) installed vending machines at their Commercial Drive location and Chuck Varabioff a director at BCPS says “it has grossed more than $1 million since he set it up last May”. (http://www.cbc.ca/news/canada/medical-marijuana-easily-dispensed-in-vancouver-1.2938574).

The BioCanna ADM system is now available to Cannabis retailers with a number of flexible programs with varying lease rates and transaction fees.

The superior BioCanna ADM retail system is European based, designed and manufactured. The Kiosks are proven to be reliable and profitable.

The initial lease agreement with MedSmart specifies that the Lessee pay a deposit of $1,000 USD per Kiosk upon execution of the contract for a minimum initial lease term of 12 months. Furthermore MedSmart will pay Kaneh Bosm a $2.50 CDN fee per transaction to be paid monthly.

Management strongly believes that the per transaction fee model will result in the greatest long term revenue stream for the Company.

The superior BioCanna ADM retail system is European based, designed, and manufactured. Presently, there are more than 2,000 units operating across western Europe with many in the retail pharmaceutical dispensing marketplace. The Kiosks are proven to be reliable and profitable.

Interested parties should contact info@kanehbosmbiotech.com for more details and a sales presentation.

On behalf of the Board of Directors of Kaneh Bosm Biotechnology Inc.

“Michael Martinz“

Michael Martinz
President, Director

“Rudy de Jonge“

Rudy de Jonge
CEO, Director

THE CSE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE.

This news release includes certain statements that may be deemed “forward-looking statements”. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “would”, “project”, “should”, “believe” and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this News Release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company’s disclosure documents which can be found under the Company’s profile on www.sedar.com.

NOT FOR DISSEMINATION IN THE UNITED STATES

SOURCE: Kaneh Bosm BioTechnolgy Inc. 

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