Medical Cannabis Payment Solutions Plans to Register for Growing License in Vermont, Acquire Property
06/26/2018 | 08:01am EDT
LAS VEGAS, June 26, 2018 (GLOBE NEWSWIRE) -- via NetworkWire – Medical Cannabis Payment Solutions (OTC:REFG), a leader in technological solutions for the medical cannabis industry, announced today the company is working on growing industrial hemp as part of Vermont’s industrial hemp program. The company is looking at multiple properties to begin growing and anticipates its first harvest will be in 2019.
“While we are fully committed to our solution to the banking and financial transaction problems in the state sanctioned marijuana industry, we are pleased thus far with our diversification into CBD extraction,” said Jeremy Roberts, CEO of Medical Cannabis Payment Solutions. “With the recent approval of a CBD based medicine by the U.S. Food and Drug Administration and the Drug Enforcement Agency’s recent clarification, we believe this emerging market is an important focus for our company.”
Under Vermont’s law, applications must register annually with the state’s Agency of Agriculture, Food and Markets and pay an annual fee. Growers must also comply with various farming statutes, including the Required Agricultural Practices rules.
“This is an exciting step for our company. We’ve been contacted by many shareholders who want to see us expand our footprint and this decision is in direct response to those petitions,” said Roberts.
About Medical Cannabis Payment Solutions: 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. In order to become a successful and compliant medicinal 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 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.take.green
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.