Category: CannabisNewsWire Release

Cannabis Industry Keeps Making Steps Forward

CannabisNewsWire Editorial Coverage: As legalization spreads, the cannabis industry is achieving a new level of maturity, with a wide range of products and support services. Global Payout, Inc. (OTC: GOHE) (GOHE Profile) is providing payment and consulting services for cannabis companies facing the unique challenges of their sector. Terra Tech Corp. (OTC: TRTC) has developed sustainable farming methods that lead to better yields and lower costs. Surna, Inc. (OTCQB: SRNA) specializes in providing components for growing facilities and advice on how to set them up. Meanwhile, Medical Marijuana, Inc. (OTC: MJNA) and GB Sciences, Inc. (OTCQB: GBLX) are both deploying new techniques to create innovative products for an ever more diverse market.

A Maturing Industry

The legal cannabis industry continues to be one of the fastest growing areas of North America’s economy. The legalization of medical cannabis in Canada and many American states has fostered a thriving medical cannabis industry over the past decade, consisting of everything from pharmaceutical companies to retail specialists. With recreational use now legal in several states and coming to Canada this summer, the industry is set to blossom further. Some estimates state that the Canadian cannabis sector alone could be worth over $20 billion within a few years.

With time and growth, the industry is maturing into something complex and varied. Companies are researching and marketing new goods, from vaporizing oils to soft drinks to community magazines. Other companies are specializing in providing support services to the industry. Whether it’s in finance, marketing, logistics or any of the other services a business needs, cannabis companies face their own unique challenges. A more mature sector is finding ways to adapt these to its specialist needs.

Cash and Cannabis

Global Payout, Inc. (OTC: GOHE) is helping to provide cannabis companies with support in one of the most challenging areas — payment.

Access to financial services has always been difficult for cannabis companies. Though the use and sale of the drug is legal in many states, federal legislation remains the same as when cannabis was targeted as part of the war on drugs. This created a fear of prosecution for banks if they provided financial services to cannabis companies.

From the start, cannabis merchants have found themselves working in a cash economy. This has created inefficiencies and greater than normal risks of fraud, theft and accounting errors. From 2013 to 2017, the Department of Justice’s Operation Chokepoint made this even more difficult, as the government investigated banks that dealt with high-risk sectors for fraud or money laundering.

As a result, cannabis companies have been left in need of alternative payment methods. Global Payout and its partner, MoneyTrac technology, are moving to provide that service.

Global Payout is a provider of financial services solutions with experience in more mainstream industries. Its Global Reserve Platform (GRP) provides an all-in-one system for companies to make payments and money transfers in an international market. The system connects all aspects of a business’s financial operations, from FOREX to prepaid debit cards. Customizable to the needs of different businesses, it provides a complete and flexible end-to-end finance system.

Given the unique circumstances of the cannabis industry, simply adopting this banking-in-a-box system wasn’t going to provide the solution. Therefore, it’s a new product, created by a Global Payout partner, that is allowing the company to apply its expertise to the sector.

New Technology for a New Problem

Global Payout’s solution for the cannabis sector comes from its former subsidiary, MoneyTrac Technology. A technology and business development company whose motto is “Key to Cashless™,” MoneyTrac is focused on providing alternative options for banking and electronic finance.

In its quest to offer payment solutions to the cannabis industry, MoneyTrac has turned to blockchain technology. Blockchain is a distributed ledger system — a form of data keeping where responsibility for the record is shared across a network rather than kept in one place. It’s the technology behind cryptocurrencies such as bitcoin. Through cryptocurrencies, blockchain has become the leading way of transferring value outside of the mainstream banking sector.

Blockchain payments offer cannabis companies several advantages. Such systems can be accessed by any customer, regardless of whether they themselves have a bank account. The money transfers happen away from the banks, which are wary about involvement in cannabis.  Payments are nearly instantaneous, and because records are kept over a distributed network, there are no controllers creating bottlenecks or the risk of a single point of failure.

Launched in early April, MoneyTrac’s MTRAC payment system is powered by GreenBox blockchain technology (http://cnw.fm/GVSh6) and provides a payment system through which cannabis companies can take electronic payments, distancing themselves from the risks and inefficiencies of working with cash. Any customer can use a MoneyTrac kiosk to load up a card or digital wallet, which they can then use to pay for goods and services. Though currently focused on the cannabis market, this option may benefit other companies in high-risk sectors or that want to benefit from the potential of blockchain.

Support Services for a Growing Industry

In addition to financial solutions, MoneyTrac provides a range of support services for cannabis businesses.

Many cannabis retailers are new businesses looking to expand their scope and expertise. The MoneyTrac team have years of knowledge and experience in business development, allowing them to provide advice and support. They can guide clients through the challenges that come with starting and running profitable businesses.

Effective sales and marketing is a challenge for any business, but it can be even more difficult when that business is in a heavily regulated sector such as cannabis. MoneyTrac provides expertise in this area.

Regulatory compliance is a specialist area of knowledge in its own right. Working within the cannabis industry, MoneyTrac professionals have deep knowledge of this area, developed through strategic partnerships across the financial sector. The MoneyTrac team is therefore able to help clients ensure that they meet the legal requirements of their businesses.

Though such support services are already available for most businesses, they all come with their own unique twists where cannabis is concerned. It’s a sign of the growing maturity of the sector — and of its need for specialist expertise — that it can support a company supplying these services. And as the sector grows, so will the businesses providing these vital services.

A Variety of Products and Services

The need for specialist cannabis products has led to the emergence of a number of companies providing ancillary goods and services, as well as specialist products from within cannabis companies.

Terra Tech Corp. (OTC: TRTC) has been developing superior, sustainable farming methods for cannabis. Its moving table hydroponic system increases harvest yields by up to 30% and reduces operational costs by up to 50%. By developing and supplying advanced horticultural equipment, the company is bringing forward the techniques and technology of cannabis cultivation. Thanks to its energy efficient systems and waste water recycling, Terra Tech is ensuring that cannabis growing meets the green credentials many customers look for. Together, these achievements led to record revenues for the company in 2017 (http://cnw.fm/OtFT9).

Surna, Inc. (OTCQB: SRNA) also works to provide better cannabis cultivation. The company manufactures components for cultivation facilities, including climate control, lighting and biosecurity. It also provides the support services needed to make the most of these products. Surna specialists have engineering and installation skills to help clients get their facilities smoothly up and running. Company consultants review floor plans and facility designs, as well as offer guidance on industry standards and best practices. It’s the sort of vital, practical advice that may help get growers off the ground.

The first publicly traded cannabis company in the United States, Medical Marijuana, Inc. (OTC: MJNA) is a leader in medical cannabis sales across the Americas. Selling to countries including the United States, Mexico and Brazil, it is showing the potential for international growth. The company’s expertise lies in research as well as sales, with the development of proprietary techniques (http://cnw.fm/4ueX9) to extra cannabinoid molecules. These techniques are being used to develop a range of products, including hemp-based protein shakes and pet products. Such techniques and products are helping the cannabis industry reach new markets and customers, increasing profits along the way.

GB Sciences, Inc. (OTCQB: GBLX) is also focused on the medical potential of cannabis, while making the most of the opportunities in newly legal recreational markets. The company has developed some of the best cannabis strains in Nevada, identified as such because of their active ingredients. GB Sciences has also obtained an exclusive worldwide license to use a time-released cannabinoid formulation from the University of Seville, bringing a previously unused approach into the American market.

With companies developing new strains and techniques for using cannabis, the cannabis industry has an increasingly diverse range of products. This is supported by a growing range of support services, with companies providing everything from payment solutions to engineering advice, all geared toward cannabis. It’s a reflection of how fast the industry has matured that all this is happening even as the battle for legalization continues around the world.

For more information on Global Payout, Inc., please visit: Global Payout, Inc. (GOHE).

About CannabisNewsWire

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.

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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. The commentary, views and opinions expressed in this release by CNW are solely those of CNW. Readers of this Article and content agree that they cannot and will not seek to hold liable CNW for any investment decisions by their readers or subscribers. CNW is a news dissemination and financial marketing solutions provider and is 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, 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.

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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 undertakes no obligation to update such statements.

Cannabis Industry Leads the Way in Payments Revolution

CannabisNewsWire Editorial Coverage: Financial services are undergoing a period of change as high-risk businesses, often excluded from conventional banking systems, search for alternative ways to process payments. Companies such as Global Payout, Inc. (OTC: GOHE) (GOHE Profile) are providing payment systems for high-risk ventures such as the cannabis industry, saving vendors from the need to operate exclusively on cash. SinglePoint, Inc. (OTCQB: SING) is also working in this sector, while bringing bitcoin payments into the mainstream. MassRoots, Inc. (OTCQB: MSRT) is moving from the cannabis sector into payment processing, adapting its expertise in cannabis tech solutions to provide financial services. Cannabis grower iAnthus Capital Holdings, Inc. (OTCQB: ITHUF) is looking at the wider set of managerial and service solutions that high-risk companies need, and smartphone payment provider Glance Technologies, Inc. (OTCQB: GLNNF) is also moving into the sector through an investment in cannabis sector intelligence and analysis.

The Payment Problem

Recent years have seen high-risk industries facing increasingly tough times in accessing banking and payment services. In the United States, the government-backed Operation Chokepoint discouraged banks from providing services to industries with a high risk of fraud, such as gun sellers and payday lenders. Meanwhile, federal legislation from the war on drugs hampers finance for cannabis businesses in states where the drug has been legalized. Despite the repeal of Operation Chokepoint (http://cnw.fm/Nof7L), the threat of government scrutiny still limits the willingness of banks to provide financial services to these businesses. Even in Canada, which is due to legalize recreational cannabis this summer, banks are only now making tentative steps toward supporting the industry (http://cnw.fm/mE49s)

The cannabis industry is leading the way in finding solutions to this problem. As marijuana legalization spreads across the United States and beyond, a growing industry needs basic financial services; the alternative is to continue in a cash-based economy with the associated risks of fraud, error and theft. Businesses are stepping in to fill the need.

Financial Solutions for a Changing World

Global Payout, Inc. (OTC: GOHE) is among the companies providing solutions for high-risk businesses. Global Payout started out as an innovative supplier of financial services to mainstream businesses. In an increasingly complex world of international transactions, managing finances can be a complicated and messy job. Web-based applications offer a potential solution, but the wide variety of financial transactions has created challenging complications.

The solution provided by Global Payout is the Global Reserve Platform (GRP). A banking-in-a-box system, GRP provides a fully customizable financial system that allows businesses to handle the full range of financial transactions in one place. From managing government benefits to making biometric payments, the system offers everything a business needs. Additionally, because the setup can be adapted to the needs of different companies, it doesn’t force companies to accept a one-size-fits-all solution.

GRP is geared toward bridging divides between conventional banking and the businesses it serves. Global Payout has dealt with the practicalities of providing payment solutions in the mainstream, and, now, the company is applying its knowledge and expertise to the more challenging world of high-risk business.

Catering to the Cannabis Market

The company’s foray into this area is being led by its partner, MoneyTrac Technology, Inc. MoneyTrac is specifically geared toward serving the cannabis industry in the United States and beyond.

Because of its particular legal challenges, both internationally and within the United States, the cannabis industry may be the most in need of unconventional banking solutions. In many cases, cannabis businesses can’t access normal banking solutions as part of their daily work, making it difficult to manage payments from customers. This industry, therefore, may be the perfect sector in which to test alternative payment solutions.

Much like Global Payout, MoneyTrac provides a customizable web-based payment system. Powered by blockchain technology, the system provides fast, secure payment options that plug into conventional banking systems at either end, making it easy for customers to pay into the system and for businesses to extract their funds. This high-tech banking solution — MTRAC — was launched on April 4 (http://cnw.fm/st6rB), providing a solution for a sector in need.

“The goal of MTRAC from the beginning has been to leverage the different technologies available to us to remove the use of cash as the primary form of payment throughout the cannabis industry,” MoneyTrac CEO Vanessa Luna stated in a news release. “While other companies have struggled to find supportive financial solutions, MTRAC opted to take a different approach, and one that has relied heavily on the use of blockchain technology to address this problem for a massive and growing industry.”

By providing a payment system for the cannabis industry, MoneyTrac is fulfilling its “Key to Cashless™” objective. This has been achieved through partnerships with a range of companies in the cannabis and technology sectors, including Integrated Compliance Solutions, Crypto Value Management Systems (http://cnw.fm/K8xYY) and Greenbox (http://cnw.fm/DOv0r). By bringing together the needs of a specific sector and the potential of blockchain technology, MoneyTrac is carving out a niche in the field of high-risk payments.

Beyond the Basics

There may even be great potential for MoneyTrac’s payment solution to reach beyond the limits of the cannabis sector. The Federal Deposit Insurance Corporation (FDIC) has encouraged banks to provide services to businesses based on risk-based analysis (http://cnw.fm/d2UsM) rather than cutting off entire sectors from key financial services. Despite this, banks remain wary of high-risk customers, due to both the financial and the legal risks. Given the inherent conservatism of established banks, the situation is not unexpected, creating a space for disruptive payment providers such as MoneyTrac to fill the gap.

The company has begun diversifying its services in other ways as well. Through an investment in cannabis community periodical PotSaver, it has been able to expand its reach within its core customer base. PotSaver will be providing readers with money-saving deals on a range of products not limited to cannabis and its paraphernalia. Simply by being part of the broadening of that community, MoneyTrac is investing in reaching beyond cannabis.

A New Financial Sector

As the new financial sector is evolving, a variety of companies have advanced alternative payment solutions and financial systems. Like Global Payout, SinglePoint, Inc. (OTCQB: SING) is working to provide financial services to the cannabis sector. The two companies have worked together on providing streamlined payment services based on blockchain technology. SinglePoint is also heavily invested in bringing the cryptocurrency sector into the mainstream. The company is currently building out its bitcoin payments solution that will enable customers to pay for cannabis with cyrpto currency instantly at the point of sale.

Cannabis company MassRoots, Inc. (OTC: MSRT) is approaching the finance sector from another angle. The company is already providing a service to help customers judge the efficacy of cannabis strains and products, thereby demonstrating its ability to provide technological solutions to the needs of the sector. Now, it is establishing a subsidiary focused on blockchain, the technology at the core of cutting-edge payment solutions for high-risk industries. This will allow the company to provide financial services for cannabis suppliers and their consumers.

Finance isn’t the only support service that cannabis companies are looking to reshape to suit their needs. iAnthus Capital Holdings, Inc. (OTCQB: ITHUF), an operator of cannabis facilities across the United States, is expanding into a range of support services. Its acquisition of Pilgrim Rock Management, LLC (http://cnw.fm/X7PbJ) provides it with intellectual property licensing, professional and management services, and real estate and equipment leasing — all geared toward its core business.

Glance Technologies, Inc. (OTCQB: GLNNF) offers another alternative approach to payment through its smartphone-based payment system. This streamlined payment process allows users to easily make and track payments. Glance’s blockchain-based rewards system is being integrated into the app. The company recently invested in Loop Cannabis Insights Inc., providing it with more insight into the high-risk businesses that could benefit from its product.

Alternative payment systems offer a much-needed solution for high-risk businesses that struggle to access traditional finance. While the cannabis industry is providing a testing ground for these services, they are already spreading to the wider economy, allowing more people access to efficient payment systems.

For more information on Global Payout, visit Global Payout (OTC: GOHE).

About CannabisNewsWire

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.

Receive Text Alerts from CannabisNewsWire: Text “Cannabis” to 21000

For more information please visit https://www.CannabisNewsWire.com and or https://CannabisNewsWire.News

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

CannabisNewsWire (CNW)
Denver, Colorado
www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.net

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. The commentary, views and opinions expressed in this release by CNW are solely those of CNW. Readers of this Article and content agree that they cannot and will not seek to hold liable CNW for any investment decisions by their readers or subscribers. CNW is a news dissemination and financial marketing solutions provider and is 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, 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 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 undertakes no obligation to update such statements.

Budding Legal Cannabis Industry Offers Opportunity Amid Challenge, Chaos

CannabisNewsWire Editorial Coverage: Albert Einstein may have said it best: “In the middle of difficulty, lies opportunity.” The changing landscape of the cannabis industry perfectly illustrates this quote, and who better to know it than the companies and individuals involved in this burgeoning business? Canadians are standing by while government leaders grapple with last-minute details of legalizing adult-use recreational cannabis nationwide, while Americans watch lawmakers debate and often reject legislation that would make some form of the highly regulated plant legal in more states. Companies poised to benefit from this “green rush” are providing services specifically tailored to this growing market that, from the outside, can appear chaotic. Among the companies responding to the call are Global Payout, Inc. (GOHE) (GOHE Profile), Terra Tech Corporation (OTCQX: TRTC), GB Sciences Inc. (OTCQB: GBLX), Lexaria Bioscience Corp. (CSE: LXX) (OTCQX: LXRP) and Medical Marijuana Inc. (OTC: MJNA).

The Struggle

One of the most significant issues facing recreational and medical cannabis businesses is finding ready and willing financial institutions to handle the enormous amounts of cash the industry generates. U.S. federal banking institutions are hesitant to get involved, since cannabis remains illegal under federal law. Canadian banks are keeping an eye on the industry while waiting for legalization to take hold in Canada later this year. Even those institutions willing to serve the industry are having second thoughts. Just last month, the Bank of Springfield in Illinois told its cannabis clients it would close their accounts (http://cnw.fm/LyWP5). The decision to withdraw is tied to the January reversal of a policy from President Barack Obama’s administration that discouraged the prosecution of operators under state marijuana laws.

“The bank’s stance is that protecting their customers is paramount,” said Andrew Mack, a spokesman for the bank. “The Bank of Springfield will not jeopardize any of their customers by working with businesses that operate in the legal gray zone.”

Alternative Fintech Options

Global Payout, Inc. (GOHE) and its San Diego-based partner, MoneyTrac Technology (“MTRAC”), offer alternative fintech banking solutions to high-risk industries in the United States, Canada and Mexico. Through customized payment solutions, companies can process and manage electronic payments worldwide. MTRAC recently launched its new “Key to Cashless™” payment option powered by GreenBox blockchain technology (http://cnw.fm/T8hkZ) by placing a demo kiosk in the company’s corporate sales office.

Vanessa Luna, MTRAC CEO, said the company has worked on the project for over a year and a half and is now accepting applications from qualified merchants operating within a variety of “alternative” and “high-cost” industries interested in the system.

“We are extremely excited to be getting this payment platform off the ground, and we plan to pay special attention to marketing and recruiting local governments and municipalities to adopt the technology as a means for both regulating legal cannabis sales and tracking it for tax purposes,” Luna said. “The power of this payment system cannot be overstated; it is a one-of-a-kind service offering that no other company can match, offering cashless transactions, inventory tracking, fully integrated point-of-sale and one-click payroll capabilities and is very much the solution the cannabis industry has been waiting for.”

A Growing Marketplace

Grand View Research reports that the global medical cannabis market is projected to reach a value of $55.8 billion by 2025 (http://cnw.fm/m0Zjp) while retail sales of legal cannabis products in North America alone are expected to fetch $24.5 billion by 2021, according to an article in Fortune magazine. California’s medical marijuana market is already as big as the total markets in Colorado, Washington and Oregon combined, the article states (http://cnw.fm/hK3S7).

Ancillary businesses that support the cannabis industry are growing fast, as well, said Mitchell Kulick, partner at Feuerstein Kulick LLP, a cannabis law firm that provides legal services to companies, funds, investors and lenders in the space.

“The reality is that, despite being illegal on a federal level, medical and adult-use marijuana are by most measures real industries that cannot be ignored and that have the same needs as more mainstream business,” said Kulick (http://cnw.fm/MLcu6). “So, from payroll providers to point-of-sale software to compliance companies, law firms, accountants, and the list goes on, many businesses that are ancillary to the industry are now part of this revolution.”

As part of that “revolution” the MTRAC Kiosk, powered by GreenBox’s state-of-the-art closed loop blockchain technology, can be placed in any business that wishes to conduct cashless transactions. Customers either load currency onto an e-wallet or a pre-paid debit card and then use the digital currency or pre-loaded debit card to pay for purchases. Integrated Compliance Solutions (“ICS”), a leader in the Know Your Customer procedures as well as in legal compliance solutions for the cannabis industry, has committed to serving as the compliance arm of MTRAC and its GreenBox payment solution (http://cnw.fm/FOn5V).

“ICS has done an excellent job of making a name for themselves in terms of offering highly effective and much needed compliance for the cannabis industry,” Luna said. “We believe they have the necessary technology, experience and connections to provide the best compliance our network of clients can benefit from.”

Change of Heart

Former Republican speaker of the House John A. Boehner recently switched sides in the battle to decriminalize cannabis. Once “unalterably opposed” to rolling back federal regulations, Boehner has now joined a board of directors for a cannabis company and is voicing support for veterans to have legal access to medicinal cannabis, the Washington Post reports (http://cnw.fm/Ge34b). His change of heart and mind about cannabis is matched by many Americans who now overwhelmingly voice support for legalizing medical cannabis.

Paying for a cannabis prescription, however, remains a challenge since cash-in-hand is often the only method of payment available. Representatives from MTRAC are already in talks with several California municipalities to implement the company’s payment system as the preferred method for licensed dispensaries in their jurisdictions. MTRAC’s Kiosk offers one of the most effective cashless alternatives to these businesses in a way that meets compliance and regulatory requirements, the company said in a news release (http://cnw.fm/9U2gQ).

On the Bandwagon

GOHE and MTRAC aren’t the only companies that have seen — and responded — to a need in the cannabis industry. Other companies are moving to the forefront as they provide services specifically geared for this blossoming market.

California-based Terra Tech Corporation (OTCQX: TRTC) is a vertically integrated, cannabis-focused agriculture company committed to providing the highest-quality medical cannabis and other agriculture products. Terra Tech, which just reported a 41 percent year-over-year revenue growth for 2017, has established extensive cultivation capabilities and retail outlets in California and Nevada.

“Cannabis analytics firm New Frontier projects Nevada’s total cannabis market to be $622 million by 2020 and we are excited by the opportunity to participate in its growth,” Terra Tech CEO Derek Peterson said in a news release (http://cnw.fm/ExV4Q).

GB Sciences Inc. (OTCQB: GBLX) is a diverse cannabis company focused on standardized cultivation and production methods as well as biopharmaceutical research and development. The company’s goal is creating safe, standardized, pharmaceutical-grade cannabinoid therapies that target a variety of medical conditions, including Parkinson’s disease and neuropathy. GB Sciences recently received its license for cannabis oil production, which will soon begin at a Las Vegas facility, and expects retail sales revenues of its products to roll in during the second quarter of 2018, the company stated in a news release (http://cnw.fm/J4wCj).

Lexaria Bioscience Corp. (CSE: LXX) (OTCQX: LXRP) has developed and out-licenses its proprietary DehydraTECH™ technology for improved taste, rapidity and delivery of bioactive compounds including cannabinoids. The company’s disruptive technology is proven to enhance the absorption of orally ingested cannabinoids while improving the taste, which allows for lower overall dosing with higher efficacy. Most recently, Lexaria received a new U.S. Patent Allowance for enhanced cannabinoid delivery using its DehydraTECH technology (http://cnw.fm/8vnXq). Lexaria currently has 15 patent applications filed in the United States and over 30 pending in more than 40 countries, plus two patents granted for cannabinoid delivery in the United States and one granted in Australia.

Medical Marijuana, Inc. (OTC: MJNA), headquartered in California, is a cannabis and industrial hemp company whose subsidiaries and investment holdings are involved in the development, sale and distribution of hemp oil and other products containing CBD-rich hemp oil. The company’s products are formulated for the pharmaceutical, nutraceutical and cosmeceutical industries, including dietary supplements. The company also sells its products in several countries that have legalized its products for the treatment of various illnesses and conditions. Medical Marijuana subsidiary HempMeds® announced at the Pittsburgh World Medical Cannabis Conference & Expo (http://cnw.fm/O3WBc) that it has released a new roll-on, topical hemp product specifically targeting athletes and active adults.

Look Out, It’s 2018

California’s conversion to statewide recreational cannabis is already experiencing some missteps and growing pains. Canada’s move to become the first Group of Seven nation to legalize adult-use marijuana is dominating international discussions while cannabis entrepreneurs scramble to capitalize on its legalization. Alcohol companies see opportunity amid the chaos, with some investing in cannabis firms or planning to introduce their own cannabis-infused products. Several companies serving the cannabis industry are looking at creating ways to avoid cash transactions through blockchain technology’s promise of a tamper-proof form of digital bookkeeping through a distributed, encrypted ledger. The cannabis industry’s growth presents challenges and opportunities on a variety of interesting and potentially very lucrative levels.

For more information on Global Payout, Inc., visit Global Payout, Inc. (GOHE).

About CannabisNewsWire

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.

Receive Text Alerts from CannabisNewsWire: Text “Cannabis” to 21000

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www.CannabisNewsWire.com
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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. The commentary, views and opinions expressed in this release by CNW are solely those of CNW. Readers of this Article and content agree that they cannot and will not seek to hold liable CNW for any investment decisions by their readers or subscribers. CNW is a news dissemination and financial marketing solutions provider and is 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, 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 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 undertakes no obligation to update such statements.

Canadian Cannabis Sector Thriving Despite Slow Legalization Process

CannabisNewsWire Editorial Coverage: Despite legislative delays, the legalization of recreational cannabis will take place in Canada, likely by the end of summer at the latest. Companies are coming to grips with the licensing process and are ready to reach this new market. One of the leaders in the new industry is Choom Holdings, Inc. (CSE: CHOO) (OTCQB: CHOOF) (CHOOF Profile), which has gained licensing experience and developed a slick brand designed to appeal to the recreational market. Grower and seller Cronos Group, Inc. (TSX: CRON) (NASDAQ: CRON) is eyeing the international market through a cross-border deal with MedMen. Canopy Growth Corporation (TSX: WEED) (OTC: TWMJF) has been focusing on retail licenses and is now an approved supplier for every province that has gone through an approval process. Aphria, Inc. (TSX: APH) (OTCQB: APHQF) is moving from medical into recreational cannabis though an expansion strategy that has seen growth in profits and revenue. Hiku Brands Company. Ltd. (CSE: HIKU) (OTC: DJACF) has gained an early sales license for its subsidiary company and is setting up state-of-the-art growing facilities ready for the legal change.

A Matter of Time

Ever since Justin Trudeau and the Liberal party were elected on a pro-legalization platform, Canada has been heading towards an in-plain-view cannabis market. Bill C-45, legalizing the trade, was passed in the House of Commons by a two-thirds majority last November and is making its way through the Senate. The passage of the bill has taken longer than expected, but even the Conservatives are not trying to block its passage. A whole new consumer sector is coming to Canada.

The delays have largely been caused by concerns about practicalities. The recreational cannabis market will be tightly regulated, just as the medical market is now. Conservatives and Liberals alike want to ensure that the police and local authorities have time to prepare. Though this concern is causing delays, it also creates an opportunity for companies that are well prepared. A company that can show it is organized, responsible and compliant with government regulations will have an edge in getting licensed and started in the new market. Balancing that with a consumer-facing image of a fun, relaxing product may be key to early success.

Responsible Groundwork

One of the companies leading the way in this is Choom Holdings (CSE: CHOO) (OTCQB: CHOOF). A purpose-built recreational brand, Choom is led by an experienced management and leadership team that understands the complexities of the market it is entering. President and CEO Chris Bogart has more than twenty years of experience in international capital markets and was a co-founder of InMed Pharmaceuticals and Magnum Uranium. He has structured complex equity financing transactions in the United States, Europe and Canada.

The team has been preparing for the coming change in the cannabis market for more than four years. Choom has been going through the process of applying for an ACMPR (Access to Cannabis for Medical Purposes Regulations) license in Vernon, B.C. In 2017, it has offers to acquire three additional applicants, including one already involved in the process in Vancouver Island, B.C. The company is working diligently to be ready to sell cannabis as soon as legalization comes.

Going through the cannabis licensing process could provide Choom with another advantage. Its staff has developed the skills and experience to quickly navigate the regulatory process and has proven to authorities its ability be become a responsible cannabis grower. The company has been working for future retail growth and distribution. With Alberta alone expecting to license 250 stores in the first year (http://cnw.fm/Wgt5F), regulators are clearly going to be busy working through all the applications. Companies such as Choom that have experience, a good reputation and a well-presented application may have a critical edge in successful retail licensing.

Effective Supply Chain

The Canadian cannabis industry is estimated to be huge. Deloitte notes that it could be worth as much as $22.6 billion per year (http://cnw.fm/eOkR5). Even the more conservative estimates predict a market larger than spirits and nearly as large as wine. That’s a lot of profit available to companies that can move in quickly and provide a reliable retail experience.

Choom could provide that through its fully integrated seed-to-sale supply chain. The company will be growing its own cannabis in ACMPR-licensed facilities. The company has four ACMPR licenses in late-stage review: one applicant has been acquired with three others under offer, as well as its first applicant expecting to receive a cultivation license from Health Canada in the next few weeks. There is approximately 68,000 square feet of facilities being retrofitted to increase growing capacity in time for legalization, with a further phase of expansion planned for later in the year, thereby building production capacity to produce a steady supply of cannabis.

This cannabis will be packaged as Choom brand products and sold through a series of Choom stores. The company will run corporate stores, with other stores being operated across Canada by independent retail investor/owners. This plan is designed to ensure that Choom products have a prominent place in the Canadian retail market and can be found easily by consumers.

Great Branding

While an efficient supply chain is important to placing products in front of customers, it’s the presentation of the product that will draw consumers in. Again, Choom appears to be well prepared.

With tight marketing restrictions in place, cannabis companies won’t be able to rely on mass advertising to raise customer awareness. Instead, they’ll need appealing brands that quickly attract consumers and lead to word-of-mouth recommendations.

Choom’s brand is built around a fun, relaxed style that draws on Hawaii’s mellow atmosphere and the cannabis culture on the island in the 1970s. The name of the company itself comes from island slang, including “the Choom gang,” a well-known group from that era that famously included the hippest president in American history, Barack Obama. It’s a strong, clearly identifiable brand style, firmly established to attract the recreational market.

The strength of the brand is supported by the design of the company’s retail stores. Designed by the team behind some of the most recognizable retail spaces around, Choom stores are designed with a cool and modern layout and are designed to appeal to serving everyone, from current users to “curious customers.”

The combination of clean white space and open concept creates a comfortable, familiar atmosphere that is meant to make the stores accessible to both existing cannabis consumers and new customers. Plants and sofas signal that this is not just a shop but a place to hang out, a part of that relaxing Hawaiian vibe.

Cannabis Companies Prepare for Growth

Other Canadian cannabis companies are also preparing for an era of huge growth.

Toronto-based cannabis grower and seller Cronos Group, Inc. (TSX: CRON) (NASDAQ: CRON) has become the first pure play cannabis company to be traded on Wall Street (http://cnw.fm/BQk4n). This shows the growing acceptance of the cannabis market not just in countries where the drug has been licensed but in the broader investment community. Investors see growth ahead for these companies and are taking the opportunity to invest before prices rise. As a cannabis company with international ambitions, Cronos is also distinctive. Its corporate goals include becoming a global force, and it has created a first-of-its-kind cross-border venture with Los Angeles-based cannabis retail brand  MedMen (http://cnw.fm/wLhX4).

Canopy Growth Corporation (TSX: WEED) (OTC: TWMJF) is establishing its retail presence. The company has been chosen by the government of Manitoba (http://cnw.fm/fEb9K) as one of the first companies to set up licensed cannabis retail stores in the province. Of the four Canadian provinces that have established retail and supply frameworks, all have now chosen Canopy Growth as a trusted supplier, giving the company a strong place in the retail market.

Aphria, Inc. (TSX: APH) (OTCQB: APHQF) is a successful company in the medical cannabis market, with both profits and revenues consistently rising throughout 2016 and 2017. The company is looking to continue this expansion, with further growth in the medical sector alongside expansion into the recreational cannabis market. It has signed a deal to buy Nuuvera Inc. (http://cnw.fm/O3oHY) and shows no sign of slowing down.

Like Canopy Growth, Hiku Brands Company, Ltd. (CSE: HIKU) (OTC: DJACF) has gained one of the early licenses to set up cannabis retail stores through selection by the Manitoba government (http://cnw.fm/1EdHP). This license for its subsidiary Tokyo Smoke will put Hiku in a strong position to sell to a new customer base once Bill C-45 reaches its expected passage. The company is near the end of the ACMPR application process and has a state-of-the-art growing facility, with another set to be completed by the end of the second quarter of 2018. It should, therefore, have a vertically integrated business, with a complete supply chain from growth to sales.

Delays in the passage of Bill C-45 have caused no slowing in the growth of the Canadian cannabis market. If anything, the extra time has allowed companies to better prepare. When the recreational market opens later this summer, several strong businesses appear to be ready to step up and play their part.

For more information on Choom Holdings, please visit Choom Holdings (CSE: CHOO) (OTCQB: CHOOF).

About CannabisNewsWire

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.

Receive Text Alerts from CannabisNewsWire: Text “Cannabis” to 21000

For more information please visit https://www.CannabisNewsWire.com and or https://CannabisNewsWire.News

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

CannabisNewsWire (CNW)
Denver, Colorado
www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.net

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. The commentary, views and opinions expressed in this release by CNW are solely those of CNW. Readers of this Article and content agree that they cannot and will not seek to hold liable CNW for any investment decisions by their readers or subscribers. CNW is a news dissemination and financial marketing solutions provider and is 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, 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 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 undertakes no obligation to update such statements.

Cash-Heavy Cannabis Industry Looking for Alternative Fintech Banking Solutions

CannabisNewsWire Editorial Coverage: In a world where legal cannabis is rapidly becoming more mainstream, a vexing financial issue continues to haunt the businesses and consumers taking part in this multibillion-dollar industry; namely, what to do with all that cash when federally chartered banks can’t accept it and credit card companies won’t touch it.  Marijuana is still a federally prohibited substance, after all, which makes businesses that handle the highly regulated plant outcasts when it comes to traditional banking methods. This aversion to risk, as defined by the banking sector, is actually a welcome opportunity for companies that cater to “high-risk” industries, such as the rapidly expanding and lucrative legal cannabis market. Among the top players enabling marginalized cannabis-related businesses and other high-risk industries to thrive are Global Payout, Inc. (OTC: GOHE) (GOHE profile), Medical Cannabis Payment Solutions (OTC: REFG), CannaRoyalty Corp. (OTCQX: CNNRF), SinglePoint, Inc. (OTCQB: SING), and MassRoots, Inc. (OTCQB: MSRT).

Billions Upon Billions

While the legal cannabis industry may just be getting started in the United States, it is expected to generate nearly $57 billion in worldwide sales by 2027, according to a Forbes article quoting Arcview Market Research (http://cnw.fm/C7wd8). The adult use market for recreational cannabis will get the lion’s share of that spending — 67 percent — while medicinal cannabis gets the remaining 33 percent. And that’s just the beginning, according to Arcview’s analysis, with the largest group of those cannabis spenders coming from North America. These folks are expected to shell out $9.2 billion in 2017 and more than $47 billion a decade later. That, as Carl Sagan would say, is “billions upon billions” of big bucks.

Is Cash Really King?

Lack of access to traditional banking services means legal cannabis businesses and their customers are usually dealing solely in cash. Some cannabis dispensaries can conceivably do $1 million a month in business, attorney James Smith says (http://cnw.fm/XWWx4).

“You don’t want that to be cash,” said Smith, a founding partner at Smith, Costello and Crawford, a firm which represents cannabis companies. “The state doesn’t want it, the industry doesn’t want it, even the federal government doesn’t want it.”

Keeping large amounts of cash onsite raises the risk of theft or embezzlement and increases the cost of security measures. MoneyTrac Technology, Inc. (“MTRAC”), a partner of Global Payout, Inc. (GOHE), is taking aim at solving this industry-wide concern with a full-service banking solution powered by GreenBox blockchain technology. MTRAC’s payment solution offers cashless methods to process payments for consumers and gives business owners the ability to remit payments to vendors, employees and other business affiliates.

Key to Cashless™

Unbanked cash presents a host of problems for business owners and the states in which they are licensed to do business. Even Canada, which is poised to legalize recreational cannabis for adult use by the end of the summer, is struggling with the issue since many of its largest banks steer clear of the cannabis industry. That may change in Canada once full legalization takes place, according to an article in Marijuana Business Daily (http://cnw.fm/wQi0V).

But why wait for traditional financial institutions to solve a problem when several companies have been working hard to provide a solution? Global Payout’s MoneyTrac Technology specifically offers alternative fintech banking solutions to these high-risk industries in the United States, Canada and Mexico.

“The goal of MTRAC from the beginning has been to leverage the different technologies available to us to remove the use of cash as the primary form of payment throughout the cannabis industry,” said MTRAC CEO Vanessa Luna in a news release (http://cnw.fm/xX6yC). “While other companies have struggled to find supportive financial solutions, MTRAC opted to take a different approach, and one that has relied heavily on the use of blockchain technology to address this problem for a massive and growing industry.”

Inside the Box

MTRAC’s revolutionary payment process for businesses operating across a wide array of alternative high-cost and high-risk industries utilizes closed-loop blockchain technology. Simply put, merchants and consumers are assured that currency moved into MTRAC’s system, either in the form of cash or through a debit/credit card via MTRAC Kiosk or a customer/merchant e-wallet, is converted to a digital representation of the currency’s value using secure, encrypted digital keys.

The MTRAC Kiosk, powered by the forward-thinking blockchain technology solutions offered by GreenBox, can be placed in any business that wishes to go cashless, making it simple and easy for merchants and customers alike to complete financial transactions. The concept is already generating buzz as MTRAC and GreenBox share their innovative payment solution with industry leaders in fields such as energy, water-tech, IoT, mobile and electronic payments, and security technologies (http://cnw.fm/z5UcA).

Looking Back

Several years ago, the Federal Deposit Insurance Corporation (FDIC) issued a Financial Institution Letter aimed at encouraging depository institutions to serve their communities by taking a risk-based approach when considering customer relationships instead of declining to provide banking services to an entire category of customers. That was in 2015, and, to date, little has changed when it comes to whether banks and credit unions are interested in welcoming the cannabis industry with open arms. Out of more than 16,000 FDIC and NCUA depository institutions registered in the United States, a 2017 federal report on marijuana banking noted only 400 of the institutions currently work with marijuana-related businesses (http://cnw.fm/s3TXu).

Catering to these “unbankable” businesses is exactly what Global Payout planned to do in 2015 when MoneyTrac Technology Inc. was brought under the company’s banner. The goal, then and now, is to focus on the development of financial technologies that specifically address many of the challenges that enterprises in a variety of alternative and high-risk market sectors face in processing financial transactions. MTRAC may be one of the most configurable and intuitive financial technology platforms available to alternative and high-risk enterprises, providing solutions that effectively manage everything from pin debit and virtual currency to compliance and cash flow logistics.

Playing a Pivotal Role

MTRAC’s commitment to working with the burgeoning cannabis industry is illustrated by the company’s recent announcement that it has joined the National Cannabis Industry Association at its highest membership level. The NCIA connects organizations, builds networks and serves as an advocate for the cannabis industry nationwide. Advocacy is encouraged as the cannabis industry continues its push for legitimacy and legalization, the NCIA states on its website (https://thecannabisindustry.org/).

“NCIA truly represents one of the most important and valuable associations in our industry,” Luna said in a new release published on CannabisNewsWire (http://cnw.fm/bCD0N). “Their hard work and advocacy over the past 17 years has played a pivotal role in helping to pave the way for the growth and continued legitimacy of this industry as well as in being a crucial resource to the thousands of businesses, such as MoneyTrac, who are committed to conducting business the right way, in an industry that remains highly scrutinized.”

The Home Stretch

Canada’s push to legalize recreational cannabis for adult use is being carefully watched on many fronts. Canadian lawmakers are still in the process of fine-tuning and adjusting the legislation that many expect to be in full force by September. Canadians are being assured that the government is planning “orderly implementation nationwide” with an overriding policy goal of keeping cannabis out of the hands of children (http://cnw.fm/0jyV7).

Even if select Canadian banks decide to finance cannabis operations or purchases, many are concerned about jeopardizing their operations based in the United States, where cannabis remains illegal at the federal level (http://cnw.fm/4PkeV).

Opportunity Beckons

The launch of MTRAC’s full-service banking solution, powered by GreenBox blockchain technology, offers the cannabis industry and other high-risk sectors cashless payment options they desperately need, Luna said (http://cnw.fm/3neCm).

Joining the effort to provide cannabis dispensaries and related businesses with payment solutions is Medical Cannabis Payment Solutions (OTC: REFG). After working with targeted participants in the state-sanctioned cannabis industry, Medical Cannabis Payment Solutions has rolled out its payment system to serve the global medical cannabis and banking industry.

“This fully concludes our transition from development stage and government relations to revenue stage,” said Jeremy Roberts, CEO of Medical Cannabis Payment Solutions. “We’re excited to bring our services to the industry and to bring increased value to our shareholders.”

Medical Cannabis Payment Solutions was developed to solve a major problem in state-sanctioned marijuana: banking and cashless payments. The company’s cutting-edge payment solution allows consumers to buy items using U.S. currency and will soon allow Bitcoin, Roberts said in a news release (http://cnw.fm/lh4xO).

Building and supporting a diverse portfolio of businesses ready to grow in high-value areas of the cannabis sector is the aim of Ontario-based CannaRoyalty Corp. (OTCQX: CNNRF). These areas include research and brand development, devices and intellectual property. In 2017, CannaRoyalty co-launched Trichome Yield Corp. (“Trichome”) to be a preferred asset-backed lending partner to emerging and established Canadian and global cannabis companies.

CannaRoyalty also recently announced its acquisition of three California cannabis-related businesses: RVR, a large-scale distributor of both medical and recreational cannabis brands; Alta Supply, a smaller distributor of medical marijuana; and Kaya Management, a maker of edibles and vaporizers (http://cnw.fm/rU7cL).

Providing full-service mobile technology solutions keeps SinglePoint, Inc. (SING) in the spotlight as the company capitalizes on two high-performing market sectors: legal cannabis and cryptocurrencies. In a March 7, 2018, shareholder update, SinglePoint announced the soft launch of its SingleSeed Bitcoin payments solution. SingleSeed stands to address the lack of viable payment options for the cannabis industry by providing a user-friendly, easy-to-track transactional platform that enables merchants to accept non-cash payments (http://cnw.fm/dht1X). SinglePoint also recently announced the official launch of SingleSeed’s newly updated website, which is focused on selling cannabidiol (“CBD”) based products direct-to-consumer (http://cnw.fm/f9D4M).

MassRoots, Inc. (OTC: MSRT) has developed a technology platform for the cannabis industry and its users. The company’s technology platform enables cannabis consumers to join a social network, which is accessible through several portals and mobile apps. Cannabis enthusiasts can post reviews, follow their favorite dispensaries and stay connected with the cannabis legalization movement (https://www.massroots.com/). MassRoots recently formed a subsidiary focused on utilizing blockchain in the cannabis industry, which pairs well with the company’s marketing strategy of building technology platforms for the regulated cannabis industry. The company’s mobile apps have more than 1 million registered users.

Economic Impact

The ongoing regulatory uncertainty that surrounds legalized cannabis in the Unites States. can be a divisive conversation among lawmakers, the cannabis industry and members of the public. It is a topic not likely to go away as more states consider measures to legalize cannabis in some form or another. One thing all parties can agree on, however, is businesses that work mainly in cash invite a myriad of problems. Reducing that risk by providing alternative cashless payment solutions offers safeguards traditional banking isn’t able or willing to give at this time.

For more information on Global Payout, Inc., please visit: Global Payout, Inc. (GOHE).

About CannabisNewsWire

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.

Receive Text Alerts from CannabisNewsWire: Text “Cannabis” to 21000

For more information please visit https://www.CannabisNewsWire.com and or https://CannabisNewsWire.News

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

CannabisNewsWire (CNW)
Denver, Colorado
www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.net

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. The commentary, views and opinions expressed in this release by CNW are solely those of CNW. Readers of this Article and content agree that they cannot and will not seek to hold liable CNW for any investment decisions by their readers or subscribers. CNW is a news dissemination and financial marketing solutions provider and is 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, 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 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 undertakes no obligation to update such statements.

Infusion of Biotechnology Into Cannabis Market Leads to Booming Growth

CannabisNewsWire Editorial Coverage: The tremendous growth of the licensed cannabis market has naturally led to an increase in research in this area. A number of specialist biotech companies have emerged, creating innovative cannabinoid applications. Lexaria Bioscience Corp. (CSE: LXX) (OTCQX: LXRP) (LXRP Profile) has developed technology to improve the palatability and speed of absorption of cannabinoid therapeutics, leading to a range of licensed products and related patents. Plant biotechnology company 22nd Century Group, Inc. (NYSE American: XXII) is altering the level of active ingredients in both cannabis and tobacco, allowing new strains to be grown for medical and other purposes. GW Pharmaceuticals plc (NASDAQ: GWPH) has developed extensive expertise in research, regulatory allowances and manufacturing, creating a pipeline of products for illnesses including epilepsy and multiple sclerosis. INSYS Therapeutics, Inc.  (NASDAQ: INSY) is creating drugs for previously unmet patient needs, researching novel systems to deliver active ingredients as effectively as possible. Even rare illnesses are being addressed by this research boom, with Zynerba Pharmaceuticals, Inc. (NASDAQ: ZYNE) focusing on neurological disorders, including fragile X syndrome and Tourette’s syndrome.

The Importance of Cannabis Biotech

As the cannabis market grows, biotechnology is taking an increasingly important place in that market.

From a position of almost global illegality 20 years ago, cannabis is evolving into a multibillion-dollar legal industry. Shifting social attitudes have led to the legalization of licensed medical cannabis in more than half of the United States and in many other countries around the world. A handful of countries are also now moving to legalize the recreational use of cannabis, accelerating the growth of the industry. Because of these changes, much of the public’s attention has been on social and legal developments.

This focus ignores the groundbreaking work emerging from cannabis research and design departments. Biotechnology has become a crucial part of the cannabis market as researchers explore new applications for the plant’s active ingredients and new ways of delivering drugs derived from them. This has led to exciting efforts in tackling opioid addiction, helping brains age more healthily and managing the symptoms of Parkinson’s disease, just to name a few. The medical application of cannabis is becoming more sophisticated, and the cannabis biotech sector is growing in both power and profitability.

Business-to-Business Biotech

Lexaria Bioscience Corp. (CSE: LXX) (OTCQX: LXRP) has taken an important place in this part of the market.

Lexaria is a research-driven company whose work focuses on improved drug delivery systems. This expertise started with DehydraTECH™, a technology that has been proven both in the laboratory and the market to improve the consumption of beneficial compounds.

Many of these compounds are lipophilic, meaning they are fat soluble. They taste and smell unpleasant, are poorly absorbed by the body, and are vulnerable to being broken down by the stomach and metabolized away by the liver. This leads to poor bioavailability, or how much of the compound the body can use. Smoking, vaping and added chemicals have all been used to try to alleviate this, but DehydraTECH offers a different solution. The lipophilic compound is combined with fatty acids in a process that makes it nearly odorless and tasteless while protecting it from hostile stomach conditions to increase both its speed of delivery to appropriate biological systems and rate of absorption.

This technology can also be applied to vitamins, supplements, nicotine and pharmaceuticals. And it is particularly applicable for both cannabis and tobacco-derived drugs because it allows patients to benefit from the active ingredients without having to smoke, thereby reducing harmful side effects from smoking. By increasing the efficacy of drugs, the technology also reduces quantities needed, cutting costs and minimizing drug-related side effects.

Lexaria has focused on licensing out its technology utilizing a business model similar to that used by software companies. Through licensing agreements with companies in Canada, the United States and beyond, Lexaria’s technology could benefit patients around the world. Meanwhile, the company itself can stay focused on biotechnology research without the burden of expensive commercial operations.

Piling Up the Patents

The result is a company that has developed a significant volume of intellectual property in its short history — and that volume continues to grow. Currently Lexaria has 15 patent applications filed in the United States and over 30 pending in more than 40 countries, plus two patents granted for cannabinoid delivery in the United States and one granted in Australia. With researchers continuing to refine the DehydraTECH system, the patents keep piling up.

In March the company received a Notice of Allowance from the United States Patent and Trademark Office relating to substances that improve the taste and absorption of cannabinoids  (http://cnw.fm/A14bT). This is expected to lead to the granting of yet another U.S. patent soon to add more protected commercial values for Lexaria’s partnered companies.

The company is also exploring the use of DehydraTECH in the absorption of drugs through the skin. Lexaria has recently filed a new patent to improve the speed and quantity of absorption for transdermal applications (http://cnw.fm/4sYzF). A recent breakthrough in testing discovered that DehydraTECH can double the transdermal absorption of cannabidiol  compared with leading commercial alternatives. This will allow the company to newly license its technology to create improved patches, creams, cosmetics and more.

In addition, the company’s work has been enhanced through an R&D agreement with the Canadian government’s National Research Council. This agreement is expected to result in a better understanding of how Lexaria’s technology works, leading to more agreements with other businesses.

It is ironic that this technology was developed for the cannabis industry but has already received patent protection for many other commonly used drugs. Anti-inflammatory drugs, vitamins and nicotine could all be deployed using Lexaria’s disruptive technology. Supplements, pain relief and smoking-cessation or smoking-alternative nicotine products are all possible as a result of Lexaria’s research. To this end, the company recently commenced a study into nicotine absorption (http://cnw.fm/DLo69). Who would have thought that cannabis research might lead to broader biotechnology applications that could benefit non-cannabis consumers?

Immediate Benefits

Cannabis is a fast-growing sector; moving quickly to develop and deploy new technology is important. Every year sees new areas of the world opening up to licensed cannabis use, as well as new products being commercialized to make the most of this market. Companies are rushing to develop the products that will fill this developing market.

The sooner these products can be patented, the sooner they can be brought to market, and Lexaria may again have a distinct first-mover advantage in this area. With patents filed and backdated to 2014 for a range of related technologies in dozens of different jurisdictions, the company may soon be able to commercialize its systems around the globe. Lexaria’s IP is steadily increasing, covering more effective bio-delivery of medical cannabis, recreational cannabis and over-the-counter pain remedies such as aspirin and ibuprofen. Through licensing to partner companies, Lexaria may soon be using this technology to drive value and prove the advantage of its systems worldwide.

The Broader Picture of Cannabis Biotech

Of course, Lexaria isn’t the only company applying biotechnology to cannabis in a search for new products. A wide range of research is leading to a diverse range of innovations set to disrupt this exciting sector.

Plant biotech company 22nd Century Group (NYSE American: XXII) is focused on changing the chemical composition of plant strains. Initially working on tobacco, the company has developed plants that have both very low and very high levels of nicotine. This broad range can be used to help smokers quit or reduce harm to those still smoking. Through its Botanical Genetics subsidiary, 22nd Century Group is turning its attention to controlling the level of active ingredients in cannabis. This has potential not only to create more effective medicines but also to support industrial hemp growth by removing active ingredients so that the plant can more easily be farmed for fibers and food.

Based in the United States and the United Kingdom, GW Pharmaceuticals plc (NASDAQ: GWPH) is a developer of cannabinoid-based medicines. Twenty years of work have given the company extensive expertise in research, regulations and manufacturing, allowing it to manage the whole pipeline, from research inspiration to a complete product. Its medicines are used in tackling the symptoms of epilepsy and multiple sclerosis, with more in the research pipeline.

Like Lexaria, INSYS Therapeutics (NASDAQ: INSY) is focused on producing new cannabinoid medicines and delivery systems to make better use of the drugs. The company is also studying how to use the newly unleashed potential of cannabis to create drugs for previously unmet patient needs. New drugs developed by the company’s researchers may help medical professionals support patients who previously lacked effective treatment. Drugs in the pipeline include an oral treatment for treating spasms in children.

Zynerba Pharmaceuticals (NASDAQ: ZYNE) is developing cannabis-based treatments for rare and near-rare neurological disorders. The company is working on transdermal drugs to help patients suffering from fragile X syndrome, certain forms of epilepsy and Tourette’s syndrome.

Cannabis biotech efforts are unleashing a range of new treatments. As more is discovered about the cannabis plant’s potential, treatments for a range of previously hard-to-manage conditions are being found along with better options for widespread illnesses. In providing innovative solutions and new products, the sector is growing in sophistication and strength.

For more information on Lexaria, please visit Lexaria Bioscience Corp. (CSE: LXX) (OTCQX: LXRP).

 About CannabisNewsWire

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.

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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. The commentary, views and opinions expressed in this release by CNW are solely those of CNW. Readers of this Article and content agree that they cannot and will not seek to hold liable CNW for any investment decisions by their readers or subscribers. CNW is a news dissemination and financial marketing solutions provider and is 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, 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 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 undertakes no obligation to update such statements.

Cannabis Continues to Provide Progress in Medical Sector

CannabisNewsWire Editorial Coverage: The emergence of a legal recreational cannabis sector has drawn attention away from the medical cannabis market. However, many companies continue to move forward in this strong sector, benefiting from extensive research and development work. PreveCeutical Medical, Inc. (CSE: PREV) (OTCQB: PRVCF) (FSE: 18H) is developing new cannabis-based medicines and delivery systems through partnership with researchers in Australia. Invictus MD Strategies Corporation (TSX-V: GENE) (OTC: IVITF) has created a network of profitable growing facilities that allowed the company to pay out a million-dollar dividend in 2016, the first dividend payout by a Canadian cannabis company, and Radient Technologies, Inc. (TSX-V: RTI) is partnering with cannabis companies to produce medical cannabis extracts. Already the owner of a large growing facility, WeedMD, Inc. (TSX-V: WMD) is in the process of creating 610,000 square feet of greenhouse space that will increase its cannabis production from 1,500kg to 33,000kg over two phases of expansion. Wildflower Marijuana, Inc. (SUN: CNX) sells a range of cannabis-based products, including vaporizers and soap, and is set to expand in the lucrative California market through new licenses in Los Angeles.

Recreational Cannabis’s Big Brother

A lot of attention in the cannabis industry is currently focused on the recreational market. A few nations and states, most notably Canada and California, have legalized recreational cannabis or are on the road to legalization. It’s a huge deal commercially, as companies prepare to exploit new markets. But in the background, the medical sector continues to make leaps forward in cannabis use.

Despite tight restrictions limiting research, a number of different medical benefits from cannabis have already been found. Best known are its use in managing chronic pain and alleviating the nausea and vomiting that follow chemotherapy. Some evidence indicates it might also be effective in dealing with neurological problems, including multiple sclerosis and epilepsy. Scientists are also exploring the use of cannabis in treating HIV and AIDS patients, as well as those suffering posttraumatic stress disorder and a range of other ailments. With so much potential, it’s little wonder that medical cannabis companies are examining every opportunity to leverage their presence in the market.

Prevention, Not Just Cure

PreveCeutical Medical, Inc. (CSE: PREV) (OTCQB: PRVCF) (FSE: 18H) is among the companies committed to researching and developing new cannabis-based treatments.

Founded in 2015, PreveCeutical is the creation of Stephen and Kimberly Van Deventer. Entrepreneurs with extensive experience in venture capital and business development, they have been working together since 2009. As the minds behind Cornerstone Global Partners, they supported the emergence of other companies with significant presence in the medical cannabis sector.

The Van Deventers’ involvement in this sector peaked their interest in health and wellness. They started looking into how they could use their business skills in offering new treatments to health-conscious consumers. Their aim was to combine scientific research with the benefits of natural remedies in order to provide the best of both worlds. PreveCeutical was founded to support this objective, with a focus on preventive medicine, as reflected in its name.

PreveCeutical has shown a strong commitment to working with researchers, teaming up with research centers to develop new and improved options for treatment. The company’s early work has focused on acute problems such as cancer, obesity, Type 2 diabetes, pain management and neurological disorders. That initial focus has naturally led to work with cannabis because of the drug’s use in tackling many of these ongoing ailments.

With its organic and nature identical products, PreveCeutical is well oriented to appeal to consumers looking for ethically sourced and effective treatments for diseases that other drugs are struggling to treat.

Research into Cannabinoids

This week marks an important moment in PreveCeutical’s efforts to improve healthcare through cannabis.

In fulfillment of an agreement announced earlier this year, the first in a series of cannabis shipments has been shipped to the Pharmacy Australia Centre for Excellence (PACE) at the University of Queensland. The cannabis flowers and oils have been provided by Aurora Cannabis, Inc. (TSX: ACB) (OTCQX: ACBFF) as part of a deal with PreveCeutical. Grown within Canada’s carefully licensed and increasingly sophisticated cannabis industry, the flowers and oils will be used by PreveCeutical’s Australian researchers to create and improve cannabis treatments.

Such international work is made complicated by the legal status of cannabis, which varies significantly from one country to another, and is tightly controlled even in territories where it can be legally sold. For this one project, the companies have had to obtain licenses for the export of cannabis from Canada and for that cannabis to be brought into Australia for research purposes. Strict standards have to be met for any sort of work on these products.

PreveCeutical’s partnership with Aurora is an important one in that it has the potential to bring considerable benefit for both companies. As part of the deal, Aurora has received rights including the option to either license resulting technology for Canada and Australia or to opt for a royalty arrangement on product sales (http://cnw.fm/8iRlH). This agreement shows faith in PreveCeutical’s ability to provide effective, profitable treatments based on its research.

“We see an important market for cannabis-based products that are more narrowly targeted at specific therapeutic areas but that are higher value add and being involved with initiatives such as PreveCeutical’s is part of our strategy to gain access to these types of products,” said Terry Booth, CEO of Aurora.

Expanding into Australia

To further support its research efforts in Australia, PreveCeutical recently incorporated a new subsidiary in the country (http://cnw.fm/3kcN2).

Led by its director of International Operations, Dr. Maher Khaled, PreveCeutical (Australia) Pty Ltd will work closely with the company’s chief research officer, Dr. Harry Parekh, to advance the company’s goal of providing new health care options based on rigorous research.

This expansion into Australia has been shaped by the country’s strong academic and clinical research, as well as support from government programs. The Australian government supports scientific innovation through a range of programs and incentives, including a research and development tax break. This provides a 43.5 percent tax offset for eligible R&D activities, from which PreveCeutical’s new subsidiary will benefit.

The company’s Australian research program is centered around the Sol-gel system (http://cnw.fm/on3FQ). An innovative drug delivery system, Sol-gel consists of medicine in liquid form that patients administer via the nasal cavity. There, it forms a gel that stays in place, slowly and steadily releasing active ingredients into the bloodstream.

Sol-gel is ideally suited to deliver drugs targeting the brain. When delivered by traditional methods such as pills and injections, medications have to travel through complex bodily systems, slowing down their arrival and resulting in the filtering out of much of the medicine, thereby limiting the effectiveness of a given dose. Sol-gel uses hydrogels and delivery close to the brain to bypass many of these barriers.

Given cannabis’s potential in tackling pain and neurological symptoms, many cannabis-based medicines are likely to target the brain. With Sol-gel, PreveCeutical may be in a strong position to provide one of the most effective delivery systems for a growing class of drugs.

Using Cannabis as a Cure

Many companies are now involved in providing cannabis-based medical treatments.

Invictus MD Strategies (TSX-V: GENE) (OTC: IVITF) has a foothold in the Canadian cannabis market and with an eye to future growth. Founded in 2014, the company has a number of licensed growing facilities and over 250 acres of property ready to be turned into cultivation space. The one-million-dollar dividend it paid out in 2016 was the first dividend payout by a Canadian cannabis company. With a platform that includes ancillary products such as fertilizers and nutrients, the company benefits from all elements of cannabis production.

Radient (TSX-V: RTI) specializes in the extraction of compounds from biological materials through microwave-assisted processing. This patented technology platform lets the company extract the beneficial elements from all manner of plants for use in food, pharmaceuticals, personal care and other products. This includes working with cannabis growers to produce cannabis extracts for medical use.

WeedMD (TSX-V: WMD) is a medical cannabis company with a 26,0000-square-foot growing space in Ontario. A producer of consistently high-quality cannabis, the company is expanding as the Canadian cannabis market grows. The first phase of an ambitious project to expand its growing facilities is currently underway, with the aim of creating 610,000 square feet of greenhouse space. This will increase the company’s cannabis production from 1,500kg to 21,000kg per year, with a goal of reaching 33,000kg with phase two of the expansion program.

Wildflower Marijuana (SUN: CNX) is focused on providing cannabis health and wellness products for the U.S. market. The company sells a range of products using cannabinoids, including vaporizers, capsules and soap. Its recent acquisition of retail and cultivation licenses in Los Angeles may allow the company to expand in the increasingly lucrative California market.

With so many companies providing a diverse range of products and services, the medical cannabis market continues to go strong, even as recreational cannabis draws the headlines.

For more information on PreveCeutical, visit PreveCeutical Medical Inc. (CSE: PREV) (OTCQB: PRVCF) (FSE: 18H).

About CannabisNewsWire

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.

Receive Text Alerts from CannabisNewsWire: Text “Cannabis” to 21000

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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. The commentary, views and opinions expressed in this release by CNW are solely those of CNW. Readers of this Article and content agree that they cannot and will not seek to hold liable CNW for any investment decisions by their readers or subscribers. CNW is a news dissemination and financial marketing solutions provider and is 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, 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 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 undertakes no obligation to update such statements.

ChineseInvestors.com, Inc. (CIIX) Doubles Down on Commitment to Cryptocurrency

  • CIIX acquires equipment to participate in cryptocurrency mining; installing AntMiners and ASIC machines in secure datacenter, it intends to explore feasibility of earning coins such as bitcoin and Litecoin
  • Warren Wang, CEO of CIIX, said that the move positions the company to capitalize on the growing blockchain industry; firm already has a daily broadcast on cryptocurrencies and sponsors bitcoin ATM
  • CIIX may add graphical processing units (GPUs) and more mining equipment in the future

ChineseInvestors.com, Inc. (OTCQB: CIIX) is doubling down on its commitment to cryptocurrency. The company recently announced that it has acquired various pieces of equipment, including AntMiners, and installed them inside of a secure datacenter near Seattle. CIIX intends to use this equipment to explore blockchain mining (http://cnw.fm/6QXnU).

CIIX said that, based on initial reports, it believes that cryptocurrency mining will result in a successful venture. If this forecast proves correct, CIIX anticipates ordering 500 or more application specific integrated circuit (ASIC) units. Additionally, the company would consider purchases of graphical processing units (GPUs) and other equipment used for blockchain mining.

The goal of these efforts is to achieve minimum hash rates that are consistent with the equipment specifications by the end of CIIX’s fiscal year on May 31, 2018. ASIC chips are seen as the ‘hashing workhorses’ of AntMiner units (http://cnw.fm/4cVVi).

CIIX is a company focused on educating and informing its global Chinese-speaking audience on a variety of financial subjects. It also has a core consulting business that manages brand building and roadshows for clients.

Prior to this new focus on the exploration of actual cryptocurrency blockchain mining, CIIX had already assumed a leadership position in this industry. It hosts a bitcoin ATM in the lobby of its San Gabriel, California, headquarters. It also broadcasts a daily video from the floor of the NYSE, titled ‘Bitcoin MultiMillionaire’, reporting on cryptocurrency news. Additionally, CIIX maintains an online crypto news website at www.NewCoins168.com.

In a news release, Warren Wang, CEO of CIIX, explained, “The Company endeavors to be on the cutting edge of blockchain technology and to stay ahead of the curve in an effort to continue to build shareholder value and increase revenues this year… This initial step into cryptocurrency mining positions the company to capitalize on a growing industry which could have tremendous upside potential.”

For more information, visit the company’s website at www.ChineseInvestors.com

More from CannabisNewsWire

About CannabisNewsWire

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.

For more information please visit https://www.CannabisNewsWire.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

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Lexaria Bioscience Corp. (CSE: LXX) (OTCQX: LXRP) Helping Smokers Light Up Less

  • Poised to revolutionize smokeless tobacco
  • Proven effective in cannabinoid delivery, undergoing testing for nicotine
  • An enabling tech seeking third-party partnerships within the tobacco industry

Lexaria Bioscience Corp. (CSE: LXX) (OTCQX: LXRP) is helping smokers light up less. Using LXRP’s revolutionary technology, smokers could be able to give up smoking without giving up nicotine. With one billion smokers worldwide, companies are seeking safer delivery technologies to help wean smokers from this deadly habit. Through third-party partnerships with major tobacco industry players, LXRP is poised to revolutionize smokeless tobacco (http://cnw.fm/YP8jF).

Lexaria is gaining prominence for its proprietary delivery technology. The company’s DehydraTECH™ technology, already proven effective in cannabinoid delivery, is undergoing testing for nicotine. Smoking is harmful due to the 4,000 chemicals released when the tobacco is lit up, even though the amount of nicotine absorbed by smokers represents a minimal hazard. Inhalation through the lungs is not healthy. Non-combusted food and drink through the human GI have been found to be much safer. However, previous methods of infusing tobacco in gum, mints or coffee have irritated the gastrointestinal tract, creating cramps and other symptoms, and required sweeteners to mask the bitter taste.

LXRP’s technology enables the delivery of bioactive substances via oral ingestion without the need for the unhealthy practice of inhalational dosing or the addition of unhealthy sugars or sweeteners. In addition, DehydraTECH acts as a Trojan horse, allowing the drug to enter the GI tract, and it is expected to reduce or eliminate uncomfortable side effects that smokers have experienced through previous edible food formats. DehydraTECH is powerful at accelerating intestinal absorption, having already been proven to decrease delivery-time to the bloodstream of edible cannabinoids from the previous 60-90 minutes to a mere 10-15 minutes.

Following its established model in the cannabis industry, Lexaria’s aim is to partner with tobacco companies rather than compete with them. It is an enabling tech, not a competing tech. In the cannabis industry, the company has entered into a licensing agreement with Biolog, Inc. (a Utah-based company not to be confused with a California cell phenotyping company of the same name) to create a unique set of next-generation food and beverage cannabis-infused products for the U.S. market. LXRP also recently entered into an agreement with Cannfections Group Inc. to create cannabis-infused chocolates and candies for the Canadian market.

Lexaria is now looking to out-license its DehydraTECH to third-party partners in the tobacco industry. These partnerships could pave the way for a healthier smoke-free option for the one billion smokers worldwide. Lexaria is the only company in the world that holds a patent for this oral technology, including the pill. A new U.S. patent award protects this nicotine delivery system, creating a path for what could be the world’s first nicotine edibles for the smokeless tobacco industry.

For more information, visit the company’s website at www.LexariaBioscience.com

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About CannabisNewsWire

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.

For more information please visit https://www.CannabisNewsWire.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

CannabisNewsWire (CNW)
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www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.net

CannabisNewsBreaks – Global Payout, Inc. (GOHE) Subsidiary Attends Cali-Baja Israel Mexico Innovation Expo

Payment solutions company Global Payout, Inc. (OTC: GOHE), through majority-owned subsidiary MoneyTrac Technology, Inc. (“MTRAC”), this morning announced its attendance at the Cali-Baja Israel Mexico Innovation Expo in Tijuana on March 20-21. Per the update, MTRAC provided key representational support for its partner, GreenBox, at the event, capitalizing on the opportunity to share the forward-thinking blockchain technology solutions offered by GreenBox with leaders from a wide range of industries. “The primary objective of attending this expo in partnership with GreenBox was to further our efforts in helping them develop their brand image and generate additional buzz for the impressive blockchain technology-based solutions they are prepared to deliver to a variety of target market sectors,” Vanessa Luna, CEO of MTRAC, stated in the news release. “I am very encouraged by the interest and overall excitement we received during the expo especially in knowing that it was received from individuals who are innovators and leaders in the world of technology solutions. My team and I recognize now more than ever the disruptive capabilities GreenBox can infuse into multiple high-cost banking industries and truly be a driving force behind bringing our mission of Banking the Unbankable to fruition.”

To view the full press release, visit http://cnw.fm/W97eV

About Global Payout, Inc.

Since the Company’s inception in 2009, Global Payout, Inc. has been a leading provider of comprehensive and customized prepaid payment solutions for domestic and international organizations distributing money worldwide. In 2014, Global introduced its first online payment platform called the Consolidated Payment Gateway (CPG), which allowed its enterprise clients to transfer money to international bank accounts, mobile accounts, and prepaid card accounts. The development of the CPG became the foundation for the introduction of its new, state of the art FINTECH payment system in 2017, for both online and mobile applications to allow account holders to maximize an expanded suite of financial services and minimize operational costs. Global will continue to offer their FINTECH payment system to many vertical markets for support of foreign currency exchange and digital currency, including ongoing support of the banking industry and international governments. For more information, visit www.GlobalPayout.com

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About CannabisNewsWire

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.

For more information please visit https://www.CannabisNewsWire.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

CannabisNewsWire (CNW)
Denver, Colorado
www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.net