NEW YORK, December 20, 2017 /PRNewswire/ --
As the cannabis industry continues its rapid growth, its overall impact on other industry sectors is also dramatically increasing. There are 11 different sectors currently directly associated with the cannabis industry or play a supporting role, according to the Marijuana Index. While quite a few prominent companies focus on the cultivation, biotechnological product development and marketing of cannabis and hemp products, others engage in the support side of the industry. A great example is Global Payout, Inc. (OTC: GOHE) (GOHE Profile), which provides customized payment solutions to optimize global financial transactions. The company's cannabis endeavors are undertaken by its MoneyTrac subsidiary, which offers solutions designed to overcome payment logistical problems and security threats in the cannabis industry. Among other cannabis-related activities, MoneyTrac is also collaborating with PotSaver brand, a supplier of medical cannabis listings. MoneyTrac's solutions could prove beneficial for other companies establishing roots in the cannabis industry, including Medical Marijuana, Inc. (OTC: MJNA), mCig, Inc. (OTC: MCIG), Solis Tek, Inc. (OTC: SLTK), and Freedom Leaf, Inc. (OTC: FRLF).
With more companies expanding their reach into global markets, it is increasingly important to have access to payment solutions that suit the needs of customers anywhere in the world. The role of traditional banks is shrinking, driven by the demand for improved and innovative financial solutions. Global Payout, Inc. (OTC: GOHE) is focused on entrenching itself as a leader in financial technology (FINTECH) and providing customized payment solutions for any type of company that distributes money globally.
Global Payout's web-based Global Reserve Platform is a configurable solution that can satisfy the front-to-back office processing requirements of domestic, foreign exchange and international payment service providers. It improves work flow, operational efficiencies and financial management for businesses operating worldwide, and can be customized for companies in a wide range of business sectors.
The breadth of Global Payout's FINTECH solutions now ripples into the cannabis industry through the company's MoneyTrac Technology, Inc. ("MTRAC") subsidiary, introduced in 2015 to provide alternative and high-risk enterprises with solutions to manage everything from pin debit and virtual currency to compliance and cash flow logistics.
MTRAC provides a solution to overcome payment logistical problems and security threats that plague the cannabis industry. These problems have arisen because marijuana is still classified as an illegal substance at U.S. federal level although legal across most states, which means that cannabis suppliers do not have access to traditional banking options. In August 2017, the company announced that it will incorporate bitcoin as a payment method to overcome these problems for customers of retail and wholesale cannabis outlets.
Global Payout continues to increase MTRAC's market reach, most recently announcing a collaboration with SinglePoint, Inc. (OTC: SING), a leading provider of full service mobile technology and mobile payment solutions to multiple industries, including the legal cannabis market, with the purpose of maximizing Global Payout's existing suite of financial solutions (http://nnw.fm/Ytav8), including those offered by MTRAC. Through this joint venture, the company seeks to boost its existing payment and financial technology platforms.
"SinglePoint's knowledge and expertise in mobile payments and other mobile technology offerings is something we believe could be a significant addition to the financial payment platforms we have developed, and are still developing, for our clients in the many different industries we serve. We are also eager to use this agreement as an opportunity to examine how a partnership with SinglePoint can be leveraged to enhance the payment and financial solutions offered by MoneyTrac Technology, our majority owned subsidiary is focused on offering in the rapidly expanding multibillion dollar cannabis industry," Global Payout stated in the press release.
MTRAC is also collaborating with its PotSaver brand, a supplier of medical cannabis listings, to launch a publication for the cannabis industry called PotSaver Biz. The first Los Angeles release is scheduled for January 1, 2018, a timely endeavor as the State of California begins licensing recreational marijuana sales next month.
MoneyTrac completed the majority acquisition of PotSaver (http://nnw.fm/3I2dg) at the end of September this year in an agreement that provided the subsidiary with access to immediate revenue as well as PotSaver's revenue-generating business model of providing community periodical listings on discounted cannabis products. The publication of PotSaver Biz constitutes another revenue stream for MoneyTrac and Global Payout, generated from the sales of paid listings to the countless businesses engaging in the cannabis industry.
Demonstrating the potential of cross-networking within the cannabis industry, MTRAC has also formed a referral partnership agreement with GreenRush Group, Inc. This agreement is expected to provide MTRAC with a direct source of revenue from the referral of cannabis-related businesses who secure a contract with greenRush for the use of its e-commerce payment platform, and Green Label Platform.
"The greenRush e-commerce platform is truly ahead of anything else in our industry today and is one of the most valuable resources available to dispensaries and other companies and brands who need an effective platform to market and sell their products for both B2C and B2B purposes. This agreement will give us an opportunity to contribute to the growth of greenRush through our referrals and will also play a vital role in the growth and success of our existing and future clients and partners as we work with them to leverage the resources available through the greenRush platform," MTRAC COO Vanessa Luna stated in the press release (http://nnw.fm/7uW3w).
An established company engaged in the research and development of cannabinoid-based products, operating in the medical marijuana and industrial hemp markets, Medical Marijuana (OTC: MJNA) was the first-ever publicly traded cannabis company in the United States. Its products are developed for the pharmaceutical, nutraceuticals and cosmeceutical industries using patented and proprietary based processes. The company also markets and distributes a range of hemp oil-based products, as well as chewing gum-based cannabinoid infused products for pain relief and other medical disorders. Medical Marijuana recently announced that its HempMeds® Mexico subsidiary generated the largest sales in a single month in November 2017. During the same month, HempMeds® Mexico's president was invited to address the United Nations and World Health Organization, where he urged both international bodies to recognize the benefits of cannabidiol (CBD) as a nutritional supplement.
mCig (OTCQB: MCIG) is a multidimensional company that operates through five divisions, comprising construction and consulting, CBD, vaporizers, media and supplies. Its construction operation designs, engineers and builds greenhouses for growers in the cannabis and hemp markets. The company also offers a consulting service to cultivators in the cannabis industry. mCig's cannabidiol division markets hemp-based CBD products, including a private label VitaCBD, while it devotes another division to the sale of e-cigarettes and vaporizers. The company operates a social platform, called 420cloud, to advertise cannabis products and runs another division that supplies legal cannabis. On December 4, 2017, mCig announced that its wholly owned subsidiary focused in hemp cultivation, product research and production, NYAcres, Inc., forecasts total revenue of $10 million in its first year of operation.
Climate control within greenhouses and indoor cultivation facilities is critical for producing cannabis and hemp crops of consistent quality. Solis Tek (OTCQB: SLTK) designs, develops and manufactures indoor lighting and ancillary equipment for horticultural facilities in the USA and globally. It produces innovative LED lighting products that emit less heat than traditional lighting systems, backed up by the use of digital ballasts to enable more accurate control of lighting within a greenhouse. The company also supplies mercury vapor and high-pressure sodium lamps, reflectors and a range of fertilizers and plant nutrients.
Headquartered in Las Vegas, Nevada, Freedom Leaf (OTCQB: FRLF) publishes news for the cannabis, medical marijuana and industrial hemp industry. Its flagship publication is Freedom Leaf Magazine, The Good News in Marijuana Reform, which reports on movements in the cannabis industry as well as lifestyle, arts and fashion. In addition, the company provides a creative marketing and talent agency service for creation and launch of business development and private label products. Freedom Leaf also sells cannabis and hemp oil-based products and is actively involved in mergers and acquisitions in the cannabis industry. On December 5, 2017, the company announced that its subsidiary, Leafceuticals, Inc., had concluded an agreement to purchase hemp from producer Harris Farms, Ltd., Pahrump, Nevada, for the supercritical CO2 extraction of hemp oil in its facility under State of Nevada license NV SB396.
If the fast-developing cannabis market is to sustain its growth, it needs the support of enterprises that can bring advanced technology beyond cultivation and product development to the table. These companies demonstrate that there is room for a diverse range of businesses to add value to this industry and create a climate for them all to thrive.
For more information on Global Payout, please visit: Global Payout, Inc. (OTC: GOHE)
CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today's market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.
DISCLAIMER: CannabisNewsWire (CNW) is the source of the Article and content set forth above. References to any issuer other than the profiled issuer are intended solely to identify industry participants and do not constitute an endorsement of any issuer and do not constitute a comparison to the profiled issuer. FN Media Group (FNM) is a third-party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated with CNW or any company mentioned herein. The commentary, views and opinions expressed in this release by CNW are solely those of CNW and are not shared by and do not reflect in any manner the views or opinions of FNM. Readers of this Article and content agree that they cannot and will not seek to hold liable CNW and FNM for any investment decisions by their readers or subscribers. CNW and FNM and their respective affiliated companies are a news dissemination and financial marketing solutions provider and are NOT registered broker-dealers/analysts/investment advisers, hold no investment licenses and may NOT sell, offer to sell or offer to buy any security.
The Article and content related to the profiled company represent the personal and subjective views of the Author, and are subject to change at any time without notice. The information provided in the Article and the content has been obtained from sources which the Author believes to be reliable. However, the Author has not independently verified or otherwise investigated all such information. None of the Author, CNW, FNM, or any of their respective affiliates, guarantee the accuracy or completeness of any such information. This Article and content are not, and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action; readers are strongly urged to speak with their own investment advisor and review all of the profiled issuer's filings made with the Securities and Exchange Commission before making any investment decisions and should understand the risks associated with an investment in the profiled issuer's securities, including, but not limited to, the complete loss of your investment.
CNW & FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and CNW and FNM undertake no obligation to update such statements.
CannabisNewsWire (CNW) & NetworkNewsWire (NNW) are proud to be affiliated partners of the Investor Based Brand Network (IBBN)
Over the past 10+ years we have consistently introduced new network brands, each specifically designed to fulfil the unique needs of our growing client base and services. Today, we continue to expand our branded network of highly influential properties, leveraging the knowledge and energy of specialized teams of experts to serve our increasingly diversified list of clients.
Please feel free to visit the Investor Based Brand Network (IBBN) http://www.investorbasedbrandnetwork.com
Corporate Communications Contact:
FN Media Group, LLC