Actionable insights straight to your inbox

Equities logo

GCAC Exempt from Clearstream Banking Restrictions on Cannabis Companies

Global Cannabis Applications Corp. is pleased to announce that it is exempt from the recent banking and settlement restrictions made by Clearstream Banking

Global Cannabis Applications Corp. APP:CNX FUAPF a leading developer of innovative data technologies for the medical cannabis industry, is pleased to announce that it is exempt from the recent banking and settlement restrictions made by Clearstream Banking regarding companies directly or indirectly involved with cannabis. Clearstream has clarified that those securities where the main business consists of medical cannabis are exempt from the restrictions.

“Our Citizen Green online community has always been focused on improving the lives of ‘medical cannabis’ patients and we are pleased to be exempt from the Clearwater Banking restrictions,” said CEO Brad Moore, Chief Executive Officer, GCAC. “GCAC has always had a robust following of shareholders in Germany and other parts of the European Union and with a strong corporate treasury we look forward to continuing to execute on our various mandates and build value for our shareholders around the world.”

On June 25, 2018, Clearstream Banking announced that it will discontinue services on the close of business and settlement date on 28 September 2018, after which it will no longer settle and safekeep securities to businesses where the main business is connected directly or indirectly to cannabis and other narcotics products.

On June 29, 2018 Clearstream informed customers that the restrictions outlined in Announcement A18095 will not be applied to securities where the main business consists of medicinal cannabis.

Clearstream cited “legal reasons” for the change, and shared a list of 147 impacted securities, including many U.S. and Canadian companies such as GCAC, Aurora Cannabis Inc., Canopy Growth Corporation and GW Pharmaceuticals.

To read the full list of restricted companies and news release

visit: http://www.clearstream.com/clearstream-en/products-and-services/settlement/d18044/97742

Clearstream, part of the Deutsche Borse Group, is an international central securities depository (ICSD) based in Luxembourg, which provides post-trade infrastructure and securities services for the international market and 56 domestic markets worldwide, with 2,500 customers in 110 countries. As a central securities depository (CSD) based in Frankfurt, it also provides the post-trade infrastructure for the German securities industry offering access to a growing number of international markets.

About Global Cannabis Applications Corp.

Global Cannabis Applications Corp. is a global leader in designing, developing, marketing and acquiring innovative data technologies for the medical cannabis industry. The Citizen Green platform is the world’s first end-to-end – from patient to regulator – medical cannabis data solution. It uses six core technologies: mobile applications, artificial intelligence, regtech, smart databases, blockchain and digital reward tokens, to qualify candidates for clinical studies. These technologies facilitate the proliferation of digital conversations by like-minded people in the medical cannabis community. Managed by digital and cannabis industry experts, GCAC is focused on viral global expansion by providing the best digital experience in the cannabis market.

For more information about the Company, please visit online at www.cannappscorp.com, or review its profiles www.sedar.com and on the Canadian Securities Exchange’s website (www.thecse.com).

In the interest of full disclosure, we call the reader’s attention to the fact that Equities.com, Inc. is compensated by the companies profiled in the Spotlight Companies section. The purpose of these profiles is to provide awareness of these companies to investors in the micro, small-cap and growth equity community and should not in any way be considered as a recommendation to buy, sell or hold these securities. Equities.com is not a registered broker dealer, investment advisor, financial analyst, investment banker or other investment professional. We are a publisher of original and third party news and information. All profiles are based on information that is available to the public. The information contained herein should not be considered to be complete and is not guaranteed by Equities.com to be free from misstatement or errors. The views expressed are our own and not intended to be the basis for any investment decision. Readers are reminded to do their own due diligence when researching any companies mentioned on this website. Always bear in mind that investing in early-stage companies is risky and you are encouraged to only invest an amount that you can afford to lose completely without any change in your lifestyle. Equities has been compensated with cash, common shares and/or warrants for market awareness services provided.

I’ve long said we are under-utilizing nuclear energy. This shouldn’t be controversial; nuclear has something for everyone.