We have evaluated numerous cryptocurrency business plans that are unique and complementary to applications in the cannabis industry and beyond, all of which leverage our existing infrastructure.
DENVER (PRWEB) January 08, 2018
CannaSys, Inc. (OTC PINK: MJTK) (“CannaSys”), a marketing, branding, and technology company, provides an update to its shareholders related to its strategy, operations, and outlook.
Following the successful market launch of Citizen Toke, its unique direct to consumer SMS-based social deals application, CannaSys announces that Michael Tew has been rehired as its Chief Executive Officer and Chief Financial Officer to spearhead its cryptocurrency efforts. Patrick Burke will remain Chief Operating Officer, President, and Secretary, responsible for continuing Citizen Toke’s market launch and customer support.
Earlier this year, in collaboration with Beta Killers, LLC, CannaSys launched Citizen Toke, its innovative text-message marketing platform, in beta format with 10 cannabis retailers from Denver and Boulder. During the fourth quarter of 2017, CannaSys successfully launched Citizen Toke’s version 1 platform with revenues to support its ongoing development and marketing.
“Special thanks to Patrick Burke for pushing through the market launch of Citizen Toke,” noted Mr. Tew. “As of today, Citizen Toke has sent more than 5,000 messages to 750 people, is used by 15 retailers, and has been used to reach new customers for various cannabis-based products. We expect to launch this into new markets, including California, in the near future. I am proud of the progress we have made in the last six months and look forward to accelerating our growth with new complimentary applications, particularly in blockchain.”
Mr. Burke said, “Citizen Toke has devised the ultimate solution for retailers and branded-product companies that desire to expand their customer base but are limited in their available tool kits. Citizen Toke’s average response rate is between 20% and 40% and conversion rates average between 2% and 4%, far outpacing competitive technologies.”
Also during the last quarter, CannaSys successfully completed its reorganization, increasing its total authorized common stock to 12,000,000,000 shares. The reorganization provides ample capital availability to finance the company’s growth plans in the coming years.
2018 Brings Blockchain Integration
Following a successful product launch in 2017, CannaSys is now focused on leveraging its existing infrastructure into unique cryptocurrency products and services, to be developed in 2018.
Management believes it is in the shareholders’ best interest to embrace blockchain and launch products and services combining CannaSys’s existing assets with cryptocurrency platforms. Mr. Tew has the experience in both capital markets and technology development to bring these new opportunities to market.
“We have evaluated numerous cryptocurrency business plans that are unique and complementary to applications in the cannabis industry and beyond, all of which leverage our existing infrastructure,” noted Mr. Tew. “We are excited to introduce these products to our investors in order to continue to build long-term shareholder value.”
Management plans to provide timely updates to shareholders as these new developments take shape.
About CannaSys, Inc.
CannaSys is a technology solutions, marketing, and branding company. Its core products are delivered “software as a service” to facilitate point-of-purchase transactions and customer relationship marketing solutions. CannaSys plans to develop, acquire, and build strategic relationships with other businesses in order to bring additional solutions to market. For more information, please visit http://www.cannasys.com. Citizen Toke is CannaSys’s marquis product—connecting retailers, products, and brands with new customers through gamified, instant SMS deals.
This release includes forward-looking statements. Investors are cautioned that these forward-looking statements involve risks and uncertainties, including continued acceptance of CannaSys’s products, increased levels of competition for CannaSys, new products and technological changes, CannaSys’s dependence on third-party suppliers, and other risks detailed from time to time in CannaSys’s periodic reports filed with the U.S. Securities and Exchange Commission.