Las Vegas, NV. , Aug. 24, 2017 (GLOBE NEWSWIRE) -- Medical Cannabis Payment Solutions (OTC – REFG), a state-of-the-art merchant processing and financial services provider to state-sanctioned cannabis, today announced a contract with a vertically integrated marijuana establishment in Las Vegas, its first customer for its closed-loop banking and payment processing solution, StateSourced.
“We’ve completed our transition from development stage to revenue stage,” said Jeremy Roberts, CEO of Medical Cannabis Payment Solutions. “We have just started our business development efforts and the market is responding very well. We anticipate having many more, similar releases.”
During the initial installation and integration period, the client has asked Medical Cannabis Payment Solutions to wait to disclose their name, “They’d like to avoid having customers rush to use a system that isn’t quite deployed in each of their locations,” added Roberts. The client has a Nevada license for cultivation, production and a dispensary.
“We are very pleased to have secured our first contract,” stated Mr. Roberts. “The industry wants the type of security, simplicity and compliance we offer. We’re excited to be the solution to their concerns. When customers are made aware of our ability to comply with FINCEN, avoid the problems spelled out in the Cole Memo, they’re telling us there isn’t an alternative; we’re it.”
About Medical Cannabis Payment Solutions, Inc.
Our mission is to provide end-to-end management, across multiple management systems, for medicinal marijuana operations. Many medicinal marijuana companies have experienced such rapid growth that they are finding it difficult to manage all aspects of their operation. To become a successful and compliant marijuana operation, effective management must depend on many different systems. REFG solves the fragmentation problem by identifying tools that are important to dispensaries, and customizing those tools specifically catered to the industry. We strive to create awareness within the medicinal marijuana industry and to develop an environmentally friendly, economically sustainable business while increasing shareholder value. For more information, please visit the company's website at: www.refg.co
FORWARD-LOOKING STATEMENT
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 REFG to be materially different from the statements made herein.