LAS VEGAS, May 29, 2018 (GLOBE NEWSWIRE) -- via NetworkWire – Medical Cannabis Payment Solutions (OTC:REFG), a Nevada corporation specializing in state-of-the-art financial services structured to serve the medical cannabis and banking industries, announced today that it has acquired 40 acres of agricultural land to cultivate hemp as part of Utah’s recently passed law, H.B. 302. The company will seek a license to grow hemp as part of the state’s Department of Agriculture and Food licensing program.
In 2014, Utah passed H.B. 105, which allowed legal possession and use of CBD oil by registered patients with a doctor’s recommendation and intractable epilepsy. The legislation, however, did not provide a mechanism for patients to acquire the oil. This year, Utah’s legislature passed S.B. 130, the Cannabidiol Product Act, which authorized the cultivation, production, and possession of hemp and the sale and use of cannabidiol products.
“We have already purchased 40 acres in anticipation of acquiring a license to grow hemp as part of Utah’s state-sanctioned system,” said Jeremy Roberts, CEO of Medical Cannabis Payment Solutions. “With the acquisition of SpeedyGrow, we have now also entered the cultivation and extraction space. This will be the company’s second license and facility.”
About Medical Cannabis Payment Solutions: Our mission is to provide end-to-end management, across multiple management systems, for medicinal marijuana operations. Many medicinal marijuana companies have experienced such rapid growth that they are finding it difficult to manage all aspects of their operation. In order to become a successful and compliant medicinal marijuana operation, effective management must depend on many different systems. REFG solves the fragmentation problem by identifying tools that are important to dispensaries and customizing those tools specifically to the industry. We strive to create awareness within the medicinal marijuana industry and to develop an environmentally friendly, economically sustainable business while increasing shareholder value. For more information, please visit the company's website at www.take.green.
FORWARD-LOOKING STATEMENT: This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of REFG to be materially different from the statements made herein.
Corporate Contact
Medical Cannabis Payment Solutions, Inc. Jeremy Roberts 702-706-7011 Jeremy@take.green http://take.green
Corporate Communications Contact
NetworkNewsWire (NNW) New York, New York www.NetworkNewsWire.com 212.418.1217 Office Editor@NetworkNewsWire.com
