MYM Acquires Budly, the ‘Uber of Cannabis’
VANCOUVER – Cannabis growth company MYM Nutraceuticals Inc. announced that the Company has entered into a binding letter of intent with Budly Software Inc., a software company that has developed a smartphone-enabled sales and distribution system connecting medicinal cannabis patients with local dispensary drivers for fast delivery and monitoring of orders.
Using Budly, a customer can select a dispensary, place an order, and then choose a driver to deliver it. The customer can then track the order on his smartphone and knows exactly when it will arrive.
Orders can be placed via the Budly app on iOS, Android and Windows phones, and via the website budly.com
“The Budly software is a game-changer for MYM because it brings us one step closer to becoming a fully integrated global cannabis company,” commented Rob Gietl, CEO of MYM.
“Budly’s clean and simple interface allows orders to be easily placed by patients, right on their phone, and provides extensive back end management and logistics control for licensed producers and dispensaries.”
Budly consists of two iOS apps, two Android apps, one web app, a dispensary backend admin and a master admin system. The system also has advanced features such as GPS tracking of drivers, flexible geo-fencing adjustments for customers, and real-time order confirmations.
MYM will issue 800,000 common shares to Budly in exchange for all non-U.S. rights to Budly’s software and intellectual property.
Should federal legislation change in the States, MYM will have first right of refusal for the rights in that country. The completion of the transaction is subject to the approval of the Canadian Securities Exchange.
MYM has two production projects in Québec that when completed will have over 1.5 million square feet of production space. MYM is also a partner in a 1.2 million square-foot production project (the Northern Rivers Project) in New South Wales, Australia, which has also recently legalized cannabis.