BYND Cannasoft Enterprises Inc. Files Ameded and Restated Financial Statements

(through TheNewswire)

Vancouver, British Columbia –TheNewswire –January 17, 2022 – BYND Cannasoft Enterprises Inc. (“BYND” or the “Firm”)(CSE:BYND) (CNSX:BYND.CN) has filed amended and restated unaudited, consolidated monetary statements for the nine-month interval ended September 30, 2021, six-month interval ended June 30, 2021 and three-month interval ended March 31, 2021,(the “Restated BYND Cannasoft Monetary Statements”)in addition to amended and restated audited monetary statements for its wholly owned Israeli subsidiary, BYND – Past Options Ltd.”(“BYND Israel”) for fiscal years 2018, 2019 and 2020(the “Restated BYND Israel Monetary Statements”)and,collectively in every case, with an amended and restated administration’s dialogue and evaluation for the corresponding interval (the “Restated MD&As”).

As a part of the Firm’s intention to checklist its frequent shares for buying and selling on the Nasdaq Capital Market and the preparation and submitting of a Kind 20-F Registration Assertion with the U.S. Securities and Change Fee,the Firm recognized sure restatements required for a few of its earlier filings and decided that it wanted to right the earlier accounting remedy for these objects, as described under.

Restated BYND Cannasoft Monetary Statements

The Restated BYND Cannasoft Monetary Statements and corresponding Restated MD&As:

Appropriate sure income and value of income quantities resulting from timing variations within the recognition of these objects.
Re-classify sure bills from depreciation and common and administrative bills, to value of income.
Replace the income and deferred income be aware to offer a extra complete overview of these objects.
Add further be aware to offer an outline of value of income.
Appropriate the popularity of sure depreciation bills associated to its property and gear and the popularity of share-based funds for the six-month interval ended June 30, 2021.

Restated BYND Israel Monetary Statements

The Restated BYND Israel Monetary Statements and corresponding Restated MD&As:

Appropriate sure income and value of income quantities resulting from timing variations within the recognition of these objects.
Re-classify sure bills from depreciation and common and administrative bills, to value of income.
Replace the income and deferred income be aware to offer a extra complete overview of these objects.
Add further be aware to offer an outline of value of income.

For additional data, please see the Restated BYND Cannasoft Monetary Statements, the Restated BYND Israel Monetary Statements and the related Restated MD&As for every interval, all of which can be found underneath the Firm’s profile on SEDAR atwww.sedar.com.

Mr. Yftah Ben Yaackov, the Firm’s CEO famous that“BYNDCannasoft prides itself on working with transparency and integrity which is why now we have chosen to right these accounting changes as quickly as they have been found. Importantly, the changes should not anticipated to have anaffect to our money place, enterprise operations or economics of economic preparations. We stay assured in our skill to notice and speed up the strategic plan to increase the Firm’s actions in Israel and overseas, whereas creating actual worth for our shareholders”

About BYND Cannasoft Enterprises Inc.

BYND is an built-in software program/hashish firm, based mostly in Israel.

CRM Software program

BYND owns and markets a proprietary buyer relationship administration (CRM) software program product, generally known as “Profit CRM”. BYND’s Profit CRM software program permits small and medium-sized companies to optimize their day-to-day enterprise actions akin to gross sales administration, personnel administration, advertising, name centre actions and asset administration. BYND’s subsequent technology Profit CRM platform is nearing completion and will probably be prepared for BETA testing shortly.

Hashish CRM

Constructing on its 20 years of expertise in CRM software program, BYND has not too long ago begun improvement of an revolutionary new CRM platform, designed particularly to serve the wants of the medical hashish business. This new platform would be the first of its form for the medical hashish discipline and the Firm is assured it’ll rework the business right into a extra organized, accessible and worth clear market. Knowledge and data collected by the operation of the Hashish Farm (see under) and the merchandise it produces will enable BYND to check its new Hashish CRM platform and alter the platform as crucial. Moreover, working the Hashish Farm and promoting medical hashish will usher in further income to additional assist BYND throughout the preliminary roll-out years of its hashish CRM platform.

Hashish Farm

BYND has not too long ago obtained a major rising license for rising medical hashish in Israel and intends to assemble a 3.7 acre farm facility close to Ashkelon Israel, to develop medical hashish. The Firm’s plans embrace the development of 4 state-of-the-art greenhouses, housing roughly 2.5 acres of whole rising space. BYND estimates that, as soon as totally operational its Hashish farm facility will be capable of produce 7,500kg of uncooked hashish annually. BYND additionally intends to work with strategic companions to develop and market new, proprietary hashish infused merchandise on the market all through Israel and for export.

For Additional Data please seek advice from data accessible on the Firm’s web site: www.cannasoft-crm.com, the CSE’s web site: www.thecse.com/en/listings/life-sciences/bynd-cannand on SEDAR:www.sedar.com.

Gabi Kabazo

Chief Monetary Officer

Tel: (604) 833-6820

e‐mail:[email protected]

Cautionary Be aware Relating to Ahead-Wanting Statements

This Press Launch incorporates forward-looking statements that contain dangers and uncertainties, which can trigger precise outcomes to vary materially from the statements made. When used on this doc, the phrases “could”, “would”, “may”, “will”, “intend”, “plan”, “anticipate”, “imagine”, “estimate”, “anticipate” and related expressions are supposed to establish forward-looking statements. Such statements replicate our present views with respect to future occasions and are topic to such dangers and uncertainties. Many elements may trigger our precise outcomes to vary materially from the statements made, together with these elements mentioned in filings made by us with the Canadian securities regulatory authorities. Ought to a number of of those dangers and uncertainties, akin to forex and rate of interest fluctuations, elevated competitors and common financial and market elements, happen or ought to assumptions underlying the ahead trying statements show incorrect, precise outcomes could differ materially from these described herein as supposed, deliberate, anticipated, or anticipated. We don’t intend and don’t assume any obligation to replace these forward-looking statements, besides as required by legislation. Shareholders are cautioned to not put undue reliance on such forward-looking statements.

The CSE has not reviewed, accepted or disapproved the content material of this press launch.

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