Cannvas MedTech is a Canadian cannabis education and analytics firm
Core business is its online library Cannvas.Me, one of five platforms it offers
The company is expanding its footprint beyond North America into Germany, UK and other EU nations
What the company does:
Cannvas MedTech Inc (CSE:MTEC) (OTCMKTS:CANVF) is a Vancouver-based startup seeking its fortune in the booming business of cannabis.
But the young company doesn’t grow or sell cannabis and related products. Instead, Cannvas MedTech provides ancillary services for the cannabis industry. It specializes in educating the public with its digital reference library about the iconic plant while harvesting the power of Big Data to paint a clear and accurate picture of cannabis consumption across Canada, the US and the world.
The company points out that its business model is free and clear of government oversight. Unlike licensed cannabis growers and sellers, cannabis education and analytics don’t need to be regulated.
At the core of Cannvas' business is its website, Cannvas.Me, one of five platforms the company has developed. There is also a German-language version.
The website provides online cannabis courses for free and offers the public the chance to read about cannabis’ medical applications in materials and white papers put out by physicians. Vistors can get marijuana product reviews and use a cannabis-strain matcher that determines which variety is suitable for a specific health ailment.
Cannvas also offers a platform called Cannvas Health that allows clinics, doctors, pharmacies, and insurance agents, as well as universities and schools, to use information and data on the Cannvas.Me website to educate and inform their particular audience’s understanding of cannabis and its potential to benefit their lives.
Another platform similar to Cannvas Health is Cannabis.Pet, which is obviously geared toward pet owners looking for information on medical cannabis to treat ailments in their cats and dogs.
Cannvas runs a platform that dovetails with Cannvas.Me called Cannvas Kiosk, which is a network of kiosks strategically located in high-traffic areas like malls, cannabis retailers, entertainment facilities, hotels and hospitals, among others. The content on each kiosk is powered by Cannvas.Me
The kiosks are powerful data-collection tools that also serve to convert casual cannabis consumers into steady customers.
As more individuals explore the Cannvas.me website, they provide data that feeds the analytical side of Cannvas’ business -- CannabisData.ai, which has the lofty goal of providing the equivalent of census data for the cannabis industry.
How’s the company doing:
The flagship platform Cannvas.Me is expanding its footprint, now flushed with hundreds of original and evidence-based educational articles encompassing all aspects of cannabis.
The company says users from more than 80 countries in 1,100 cities have visited the site since its roll out, and it’s on track to reach 50 million article views and four million unique visitors.
So as the company amasses more data from site visitors each day, the more powerful it becomes to tailor specific data to fuel the marketing needs of cannabis companies and the research needs of governments, physicians and academics.
The company uses artificial intelligence algorithms to pull apart the research on cannabis trends and find new data that might be of use to doctors seeking geo-targed consumer information, licensed producers/distributors looking for consumption trends and insurers wanting to dig deeper into their client’s behaviors. The AI-driven cannabis data and analytics market is expected to swell to C$146 billion by 2025.
Partnerships are also pivotal to the company’s ability to gather information. In one of its most prominent tie-ups, the company has a revenue sharing agreement for Cannvas.Me with the Vancouver-based e-commerce platform Namaste Technologies, which runs medical cannabis patient portal Namaste MD that has a reach extending to 20 countries and boasts a database of 1.5 million users.
As for finances, Cannvas had total assets of nearly C$800,000 as of March 31, and in July it closed on the first C$1 million tranche of a C$2 million non-brokered private placement.
Cannvas’ growth strategy goes beyond North America, particularly Canada where it generates the majority of its business.
With its expansion into Germany underway, the company is turning its attention to the UK as well as other emerging cannabis markets across the EU. Also, part of that European market penetration involves expanding its network of learning kiosks and getting into medical clinics.
As several European nations are expected to end cannabis prohibition and focus on liberalizing medical cannabis markets, Cannvas wants to leverage its Cannvas.Me platform and collaborate with local agencies to implement education and awareness campaigns around the potential benefits of cannabis as well as its safe and responsible usage and storage.
The global medical cannabis market is forecast to reach US$148.35 billion by 2026, with the European market alone expecting to generate US$66 billion, as more individuals and groups embrace the green plant and its variety of by-products.
Cannvas hopes to capitalize on this massive growth by delivering unbiased and evidence-based information relevant to specific concerns of individual users and/or groups of users from the same geographical area.
Lastly, the company has been reaching out to clinics in Australia to introduce its Cannabis.Me so individuals can obtain needed information on medical cannabis at the doctor’s offices Down Under. Management is also considering expanding into the Hong Kong and Japanese markets regardless of any prohibitions on cannabis.
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