BYND Cannasoft Enterprises Inc.Announces Third Quarter 2021 Financial Results

The company has a strong balance sheet, while increasing its gross profit and decreasing its net loss

Vancouver, British Columbia – The press wire – November 25, 2021 – BYND Cannasoft Enterprises Inc. (“BYND” or the “Company”) (CSE: BYND) (CNSX: BYND.CN) has published its financial results for the nine-month period ended September 30, 2021. The full versions of the unaudited condensed consolidated interim financial statements and MD&A for the period are available at www.sedar.com.

Third Quarter Financial Highlights:

  • Revenue increase by 9% to $ 296,428 in Q3 2021 compared to $ 271,566 in Q3 2020.

  • The gross margin increased to 53% in Q3 2021 compared to 3% in Q3 2020.

  • The net loss declined 56% to $ 59,279 in the third quarter of 2021, from $ 135,263 in the third quarter of 2020.

  • Working capital increased to 5,364,279 as of September 30, 2021, compared to a deficit of 197,693 as of December 31, 2020.

  • The total number of shares outstanding as of September 30, 2021 was 26,780,337.

Summary of quarterly development of sales, gross profit and net profit (loss)

Q3 2021

Q2 2021

Q1 2021

Q4 2020

Q3 2020

Returned

$ 296,428

$ 418,635

$ 244,093

$ 507,253

$ 271,566

Gross profit

$ 157,439

$ 260,167

$ 78,941

$ 431,757

$ 7,938

Net income (loss)

(59,279) $

(103,753) $

($ 4,443,774) *

$ 135,852

$ (135,263)

* Includes one-time non-recurring listing fees of $ 4,394,390 incurred as a result of business combination transactions and the listing of its shares by the Company on the CSE.

Mr. Yftah Ben Yaackov, CEO of BYND noted that “We are very pleased with our third quarter results which are consistent with our focus on increasing gross margin, reducing our net loss and strengthening our balance sheet, which will help us on our journey towards listing on the Nasdaq Capital Market. We are delighted to expand the Company’s activities in Israel and abroad, while creating real added value for our shareholders ”.

About BYND Cannasoft Enterprises Inc.

BYND is an integrated software / cannabis company, based in Israel.

CRM software

BYND owns and markets proprietary customer relationship management (CRM) software, known as “Benefit CRM”. BYND’s Benefit CRM software enables small and medium-sized businesses to optimize their day-to-day business activities such as sales management, personnel management, marketing, call center operations and asset management. BYND’s next-generation Benefit CRM platform is nearing completion and will soon be ready for BETA testing.

CRM on cannabis

Building on its 20 years of experience in CRM software, BYND recently began the development of an innovative new CRM platform, designed specifically to meet the needs of the medical cannabis industry. This new platform will be the first of its kind in the field of medical cannabis and the company is confident that it will transform the industry into a more organized, accessible and price transparent market. The data and information collected during the operation of the cannabis farm (see below) and the products it manufactures will allow BYND to test its new Cannabis CRM platform and adjust the platform as necessary. . Additionally, operating the cannabis farm and selling medical cannabis will generate additional revenue to further support BYND in the early years of its cannabis CRM platform rollout.

Cannabis farm

BYND recently obtained a master cultivation license for the cultivation of medical cannabis in Israel and intends to build a 3.7-acre agricultural facility near Ashkelon Israel, to cultivate medical cannabis. The company’s plans include the construction of 4 state-of-the-art greenhouses, housing approximately 2.5 acres of total growing area. BYND estimates that once fully operational, its cannabis farm facility will be able to produce 7,500 kg of raw cannabis each year. BYND also intends to work with strategic partners to develop and commercialize new and exclusive cannabis-infused products for sale throughout Israel and for export.

For more information please refer to the information available on the Company’s website: www.cannasoft-crm.com, the CSE website: www.thecse.com/en/listings/life-sciences/bynd-cannasoft-enterprises-inc and on SEDAR: www.sedar.com.

Gabi Kabazo

Financial director

Phone. : (604) 833-6820

E-mail: [email protected]

Caution Regarding Forward-Looking Statements

This press release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words “may”, “would”, “could”, “will”, “intention”, “plan”, “anticipate”, “believe”, “estimate”, ” expect ”and similar phrases are intended to identify forward-looking statements. Such statements reflect our current views regarding future events and are subject to such risks and uncertainties. There are many factors that could cause our actual results to differ materially from statements made, including factors discussed in documents we have filed with Canadian securities regulators. If one or more of these risks and uncertainties, such as fluctuations in currencies and interest rates, increased competition and general economic and market factors, occur or if the assumptions underlying the forward-looking statements turn out to be incorrect, actual results may differ materially from those described in this document as expected. , planned, anticipated or expected. We do not intend and assume no obligation to update these forward-looking statements, except as required by law. Shareholders are cautioned not to place undue reliance on these forward-looking statements.

The CSE has not reviewed, approved or disapproved of the contents of this press release.

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