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Toronto, Ontario--(Newsfile Corp. - June 12, 2020) - Graph Blockchain Inc. (CSE: GBLC) ("Graph" or the "Company") today provided an update on the upcoming launch of its proprietary and wholly owned Wellness Marketplace platform, BluStem Ltd. (www.BluStem.com). As announced on May 25th, 2020, the Company anticipated to proceed with the launch of the BluStem platform during the first week of June. However, BluStem's Shopify Plus account remains pending due to a backlog of applications as a surge of companies have been looking to sell PPE and other COVID-19 related products online.
Graph Blockchain CEO Christian Scovenna commented:
"Shopify follows a diligent vetting process for all businesses including the review of approval documentation from Health Canada and any other submitted paperwork to eliminate the risk of fraudulent sites. The unprecedented amount of applications has obviously caused a delay in this process which has left our application pending. We are confident that we have fulfilled all of Shopify's requirements and will provide an update as soon as we receive word regarding the timeline for the approval of the application."
In the meantime, the Company has decided to activate BluStem on the standard Shopify platform remaining non-transactional until approval is granted to launch BluStem on Shopify Plus.
As a result of recent worldwide events relating to the COVID-19 pandemic and the ensuing slowdown of activity in all sectors of business, the Company is taking the opportunity to help Canadians and Canadian Companies to return to safe working environments through the BluStem platform's ecommerce Marketplace(s) that will focus on Personal Protective Equipment (PPE) and COVID-19 test services with future plans to expand to other wellness products like CBD, Psychedelics and other wellness brands in other global jurisdictions.
About BluStem Ltd.
BluStem Ltd. (www.BluStem.com), a wholly owned subsidiary of Graph Blockchain Inc. BluStem Ltd is an ecommerce ecosystem for B2C and B2B audiences in support of scaling both its own and its partnership brands. The Company will feature COVID-19 related products such as Personal Protective Equipment (PPE) and a COVID-19 Test Service. BluStem Ltd to expand to CBD, Fungi/Psychedelics and other wellness brands. Revenue growth will come through the sale of products, marketing, licensing, and product fulfillment fees including the Company's own brand "BluStem" that will leverage white-labeling supply chain partnership agreements.
About Graph Blockchain Inc.
The Company develops leading-edge private blockchain business intelligence and data management solutions that it will implement into a blockchain supported e-commerce marketplace for the sale of psychedelic and ancillary products in legal jurisdictions.
For further information, please contact:
Christian Scovenna - President & CEO
Phone: (416) 453-4708
Forward Looking Statements
This news release contains "forward-looking statements" within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking statements. In some cases, forward-looking statements can be identified by words or phrases such as "may", "will", "expect", "likely", "should", "would", "plan", "anticipate", "intend", "potential", "proposed", "estimate", "believe" or the negative of these terms, or other similar words, expressions and grammatical variations thereof, or statements that certain events or conditions "may" or "will" happen, or by discussions of strategy. Readers are cautioned to consider these and other factors, uncertainties and potential events carefully and not to put undue reliance on forward-looking statements. Such statements may prove to be incorrect and actual results may differ materially from those anticipated.
Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect the Company's expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.
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