CITIZEN GREEN TOKEN AND ECONOMY

As outlined in the May 29, 2018 news release, the Opinion Provision provided from the Bank of Lithuania concluded the CGT is not a security. As the Bank of Lithuania cooperates with the European Central Bank to make decisions on monetary policy and its implementation, the Bank’s opinion of the CGT token as a utility token places us firmly on the right side of regulators globally regarding cryptocurrencies. Furthermore, by establishing Global Cannabis Applications Corp. APP:CNX FUAPF Europe in Lithuania, GCAC not only has future access to lucrative EU market, but it is establishing itself as key technology provider and employer in Lithuania. As part of the recognition in our investment, the Company was invited to participate in a government trade mission to China with Ministry of Finance (press release May 6, 2018GCAC To Join Lithuanian Government Trade Mission to China).A critical step to defining the legitimacy of the Citizen Green Token was the approval for listing on the Canadian Cryptocurrency Exchange (CCX). This is the first step in establishing the value of the data for those who wish to have access to it by purchasing the data and as such the data itself becomes the underlying currency. Members who earn CGTs will have them deposited in a safe, secure anonymous Wallet.
This all important first listing on the CCX will establish the CGT on the same level as other forms of currency and brings the overall GCAC Citizen Green story full circle. As the Citizen Green Community is used across multiple global medical cannabis markets, it is vital that CGT is available on multiple cryptocurrency exchanges around the world. With all of this about to happen on our own blockchain, in essence an exchange in the Citizen Green Community ecosphere, GCAC will be earning revenues for each cryptocurrency transactions between all who participate.
Crypto assets have been allowed on the financial statements of other Vancouver based publicly traded companies by auditors. The CGT crypto asset is held by GCAC’s 100% owned Lithuanian based GCAC Europe and recently the Lithuanian Ministry of Finance published a position of the Authority of Audit, Accounting, Property Valuation and Insolvency Management which states that cryptocurrencies which may be used as payment means not only for payment for services rendered, but also to exchange into common currency (FIAT money), have the same characteristics as foreign currency; therefore, they could be attributed to cash.

MOVING AHEAD
With data, economy of scale is key, and we were pleased to announce the Citizen Green Community has reached almost 500,000 members, who joined by downloading the CannaLife mobile app, in a very short period of only a couple of months (press release August 1, 2018GCAC Reports 495,000 Citizen Green Community Members in Q2 2018). We are thrilled with this achievement because the aggressive growth is necessary to create the much-needed member population which will contribute their medical cannabis usage experiences to the technology platform. These CannaLife users will also become the first to utilize the desktop and mobile solution provided by cannabis retailers in Canada and other legal medical cannabis markets globally. With more and more global Citizen Green Community adoption, we expect this number to grow exponentially, growing both the size of medical cannabis insights and use of the Citizen Green Token. Recently Anastasija Plotnikova, Chief Operating Officer, GCAC Europe, was invited to speak at the Oslo Innovation Week in Oslo, Norway (press release of August 7, 2018GCAC Brings Disruptive Token Economy Model to Oslo Innovation Week) about the GCAC model. This event with other keynote speakers, including former US president Mr. Barack Obama, is a key component of building both the GCAC and Citizen Green brands.
In closing our focus remains to create better patient outcomes by using each patient’s experience to add to the health of the next patient. The GCAC management and team appreciate your continued trust and support, and look forward to working together in the coming months to ensure the continued success.

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