Vancouver, British Columbia - CannaOne Technologies Inc. (CSE: CNNA) (OTC Pink: CNONF) (FSE: 3CT) ('CannaOne' or the 'Company') is pleased to report that the completion of the Vasu International Payment Solutions Inc. ('Vasu') and Payright Pte. Ltd. ('Payright') transactions has allowed the Company to further establish building blocks for its Pan-Regional Digital Payment Network with operations in the Philippines and Singapore
What does this mean? For the past few years, South East Asia has been a leader in the adoption of Financial Technology with unicorn businesses like PT Aplikasi Karya Anak Bangsa, doing business as Gojek, Grab Holdings Inc., Takopedia, and PT Visionet Internasional, doing business as OVO. These rideshare, ecommerce and payment platforms have experienced significant growth over the past three years. However, at the same time the region has some of the highest unbanked and underbanked populations in the world-with the Philippines, Vietnam and Indonesia falling into the top 10 unbanked countries. The combination of this demand for technology and service, along with a large underserved population, has created significant demand for a digital payment platform that can enable local businesses to easily digitize by quickly connecting to all payment methods.
The Company's strategy, through the establishment of ongoing partnerships, is to continue its focus on ecommerce opportunities, with a view to creating a single, linked digital financial platform which can accept any type of payment, and payout any type of payment no matter what the size of the transaction, what type of currency (including crypto), and what method of payment, is used. The Company's management team believes that this digital payment network will play an integral role in the roll-out of Embedded Finance - The integration of financial services into non-financial websites, mobile applications, and business processes - forecasted to reach $230 billion in revenue by 2025 by New York based Private Equity firm, LightYear Capital.
The Vasu and Payright transactions provide the Company with local management teams, market reputation and strategic partnerships to provide the foundation of this strategy. For more information on the Vasu and Payright transactions, please see our press releases dated March 8, 2021 and March 31, 2021.
ABOUT CANNAONE TECHNOLOGIES:
Since inception CannaOne has focused on development and deployment of its proprietary online marketplace platform. Integral to the true intent and directive of the long-term planning of these development efforts was an early-stage technology agreement to allow for integration of a payment and financial technology platform to facilitate merchant sales within its online platform. As such, since March 2017 the company has worked closely with payment technology providers in South East Asia, to ascertain the pathways to the greatest potential for future growth in the world's fastest growing digital payment markets. With the existence of ever-evolving international relationships with parties specifically focused on the facilitation of payment processing and bank acquiring infrastructure, the Company sees potential to increase revenue over time with the continued integration and utilization of complete payment processing capabilities within our online marketplace solutions. The Company will look to expand its online client portfolio to include additional business sectors, such as those to service the payment processing requirements of e-commerce providers most effectively.
CannaOne seeks to become a global leader in financial technology, solutions, and services for merchants as it works hand in hand with select niche banking partners. CannaOne intends to integrate PCI certified payment solutions with its proprietary and proven online marketplace technology platform to offer a truly comprehensive suite of products and services to serve B-to-B merchant clientele. The Company has targeted banking relationships outside of North America, (specifically in SE Asia), and by working with selected banking or licensed EMI partners, our solutions may include merchant acquiring solutions; integrated payment solutions; global eCommerce solutions; core processing and ancillary applications solutions; digital and online marketplace solutions, including internet, mobile and eBanking; fraud, risk management and compliance solutions; electronic funds transfer and network services solutions; and/or card and online retail payment solutions. The Company is focused on organic growth while investigating potential strategic acquisitions, that may contribute critical technology applications, services and immediate revenue streams that can complement or enhance our existing offerings and potentially increase or expedite our path to future profitability. While Cannaone believes that significant near-term opportunities exist for the Company's solutions, there can be no assurance that customer agreements will be reached or that such agreements will be profitable should they be implemented.
Contact:
Michael Penner
CEO
T: (604) 396-9974
E: mpenner@lynxgroup.io
FORWARD-LOOKING STATEMENTS:
Certain information contained herein may constitute 'forwardlooking information' under Canadian securities legislation, including with respect to the ability of the Company to establish ongoing partnerships and create a single, linked digital financial platform, or the effectiveness of its existing partnerships in this strategy, its name change to Lynx Global Digital Finance Corporation, which remain subject to regulatory approvals, and the ability of the Company to execute its business plans. Generally, forward-looking information can be identified by the use of forward-looking terminology such as, 'will be', or variations of such words and phrases or statements that certain actions, events, or results 'will' occur. Forward-looking statements are based on the Company's estimates and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance, or achievements of CannaOne to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including capital expenditures, other costs, or implied future forecasts. The Company further again cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Such factors include, among other things: risks and uncertainties relating to the Company's limited operating history and the need to comply with governmental regulations. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and information. CannaOne will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.
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