LOS ANGELES, March 4, 2010 (GLOBE NEWSWIRE) -- Commerce Online Inc. (OTCBB:CMIB) (http://www.commerceonlineinc.com), a leading company specializing in both brick-and-mortar and online merchant payment solutions for medical marijuana dispensaries and high-risk merchant accounts and services, today announced that the Company has officially been granted its name change on the OTCBB to "Cannabis Medical Solutions, Inc." (www.cannabismedsolutions.com) with a new trading symbol of "CMSI".
"Since becoming the most respected name in merchant services and banking solutions for medical marijuana dispensaries and championing the cause of bringing secure banking and patient services in line with rapid legislation toward legalization, we felt it in the best interest of our shareholders and clients to brand our parent company as Cannabis Medical Solutions to eliminate any further confusion as an ecommerce company. As of the first of this year, we have added several new medical marijuana dispensary clients providing merchant payment solutions, accounting and insurance recommendations for these businesses. We will continue to explore vertical growth into not only becoming a financial partner to new dispensaries under the Cannabis Medical Solutions Brand, but to potentially expanding our role into ownership, branded food and beverage products and biopharma products, stated Kyle Gotshalk, CEO of Cannabis Medical Solutions.
About Cannabis Medical Solutions Inc.
Cannabis Medical Solutions Inc. (http://www.cannabismedsolutions.com/) has quickly become the most recognized brand and partner in both online and wireless niche merchant payment solutions. The Company offers a full spectrum of secure and reliable transaction processing solutions using traditional, Internet Point-of-Sale (POS), e-commerce and mobile (wireless) terminals in conjunction with Industry Alliance Partners. The Company has recently focused on providing payment solutions to the licensed medical marijuana dispensaries throughout 14 states. In an effort to keep these businesses within the guidelines of CA Proposition 215 and SB 420, Cannabis Medical Solutions offers reliable merchant payment solutions and closed loop pre-paid stored value and loyalty cards as a unique cash alternative to these regulated dispensaries for both operators and members of collectives. CMSI will seek to capitalize on this presently untapped and much needed solution, and presently provides services to multiple locations throughout California, New Mexico, Denver and Montana.
FORWARD-LOOKING DISCLAIMER
This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Commerce Online Inc. to be materially different from the statements made herein.