Blue Line Grabs Top Spot as Leading Currency Processor for Colorado’s Cannabis Industry

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| Source: Blue Line Protection Group, Inc.

DENVER, Oct. 25, 2017 (GLOBE NEWSWIRE) -- Blue Line Protection Group, Inc. (OTCPink:BLPG) has become the leading currency processor for Colorado’s lawful cannabis industry, with nearly $250 million processed in 2017 and an expanding list of clients that includes Colorado’s largest legal cannabis dispensary, cultivation facility and manufacturing operations.

Blue Line serves state-licensed cannabis businesses with secure currency transportation and change fulfillment services and provides security, transportation and risk mitigation solutions for financial institutions servicing the legal cannabis industry.

Blue Line has surged past all other armored transportation and vaulting providers, making Blue Line the premier secure transportation and currency services provider for cannabis operations throughout Colorado.  “No other armored courier has fulfilled the needs of this cash-heavy industry as we have,” said Daniel Allen, Blue Line’s CEO.  “Our commitment to customer service and our ability to provide compliant currency transportation operations has made us the number one choice for cannabis cash movement for our bank and credit union partners.”

Since opening its secure vaulting and processing operations in October 2016, Blue Line has secured the industry’s leading legal cannabis clients across Colorado.  Blue Line has increased the number of locations serviced per month from just 124 in January to over 1,000 by the end of September 2017, increasing its transportation revenue by over 700 percent.

Blue Line experienced an increase of 472 percent in the monthly client currency deposits since January, processing over $83 million in August and September alone, and $242 million in its secure vaulting and processing facility thus far in 2017.  “We’re on track to process half a billion dollars over the next year for this industry in Colorado alone,” added Mr. Allen.  “We’ve seen a tremendous increase in the number of clients served by our transportation and currency processing services.  We’ve also seen strong revenue growth in 2017, with a nearly 500 percent increase in our processing revenue since January.”

Besides currency processing and transportation, Blue Line also saw continued growth in its coin, currency and ATM services, fulfilling over $17 million in currency order requests for its clients this year.  Revenue for providing these change and ATM fulfillment services jumped 350 percent since January.

“The reason for the demand in our services is simple: Blue Line provides superior value, service and communication to our clients.  We’re with our clients every step of the way, helping protect their cash flow so they can provide uninterrupted service to their customers.  Our trained and licensed personnel provide a level of customer service and communication unmatched by other armored service providers,” added Mr. Allen.

Blue Line continues to offer its compliance investigations services, having provided over 500 on-site assessments for its financial institution partners that help them comply with their “know your customer” requirements.  “We’ve been able to assist banks and credit unions with our on-site, independent, compliance assessment services,” added Mr. Allen.  “We help reduce business transactional fraud, limiting the risks to financial institutions offering banking services to high-risk operations like the legal cannabis industry.”

About Blue Line Protection Group, Inc.

Blue Line Protection Group provides consulting, armed security, compliance and investigations, transportation and secure vaulting services to banks, businesses and government entities who need to protect their assets, licenses and clients.  Blue Line serves banks and credit unions by providing currency processing and transportation solutions, and its risk mitigation services help financial institutions serving cash-intensive industries comply with federal “know your customer” mandates.  For more information, visit www.BlueLineProtectionGroup.com.

Safe Harbor Statement

This release includes forward-looking statements, which are based on certain assumptions and reflects management's current expectations. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Some of these factors include: general global economic conditions; general industry and market conditions, sector changes and growth rates; uncertainty as to whether our strategies and business plans will yield the expected benefits; increasing competition; availability and cost of capital; the ability to identify and develop and achieve commercial success; the level of expenditures necessary to maintain and improve the quality of services; changes in the economy; changes in laws and regulations, including codes and standards, intellectual property rights, and tax matters; or other matters not anticipated; our ability to secure and maintain strategic relationships and distribution agreements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact

Michael Jerome
Vice President Media and Systems Development
Blue Line Protection Group, Inc.
800-844-5576
Media@BlueLineProtectionGroup.com