Calyx Ventures Inc. (TSX.V:CYX) (“Calyx” or the “Company”) is pleased to announce the completion of development of its Canadian Cannabis Exchange Platform. Calyx’s wholly-owned subsidiary, Cannigistics Agri-Solutions Corp., has completed the wholesale component of the application, and is now ready to proceed with the identification of third-party partners for the testing of the platform.
“As the cannabis landscape matures, the necessity for an independent fluid marketplace is becoming increasingly more apparent,” explained Roger Forde, Chief Executive Officer of Calyx. “To this end we are building an infrastructure which will allow for any current and future Licensed Producers, Distributers and Extractors to get their product to market quickly, efficiently and affordably.”
The wholesale and marketplace system was developed based on a proven and tested model currently in service in the Canadian agricultural marketplace. In addition to the Company’s extensive development and customization of this model to date, the final application framework includes a private distributed ledger to handle and track contracts and transactions.
“Blockchain technology is naturally suited to marketplace applications. This particular market has a need for transaction verification and transparency, so we feel that building the platform to include a private blockchain ledger will give it transparency with both market participants and regulatory authorities,” Forde said. “We see great opportunity in the cannabis market for efficiency, liquidity and accountability, and intend to provide these features through our platform.”
Calyx operates a software development business which produces custom software for enterprises and innovative, well-financed startups. Calyx operates through two wholly-owned subsidiaries, Cannigistics Agri-Solutions Corp., a software development business that has created a software platform originally designed for advanced indoor agriculture and has now evolved to serve a wider range of industries and Canada Blockchain Holdings Corp., a company operating in the blockchain technology and cryptocurrency sector. Calyx also owns a portfolio of proprietary intellectual property with applications in crop enhancement, as well as messaging software assets.
For further information about Calyx, please visit www.calyxbio.com or contact:
President and Chief Executive Officer
Calyx Ventures Inc.
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This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target,” “plan”, “forecast”, “may”, “schedule” and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to proposed software application development, regulatory or government requirements or approvals, the reliability of third party information and other factors or information. Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.
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