Medical Cannabis Payment Solutions (REFG) Intensifies Focus on Legalized Marijuana Industry with ‘Green’ Payment Processing, Hemp Licenses
- Green digital system is being offered to the entire legalized cannabis industry, providing an alternative to traditional banking; its online signup feature has triggered application growth
- REFG is adding more licenses to grow industrial hemp; it is already licensed in Colorado, with eyes on Utah and Vermont
- Company is adding prominent political figures to its advisory board from states where medical marijuana is legal, including New Mexico, Utah, Florida and Oregon
Medical Cannabis Payment Solutions (OTC: REFG) has expanded its presence in the legalized cannabis space from its core Green FinCEN-compliant processing system, which creates a digital and cashless way for dispensaries and other legalized merchants to do business outside of the traditional banking system. Online signup has generated more applications for Green, according to REFG (http://nnw.fm/KElm1).
REFG is expanding its role as a grower. It acquired SpeedyGrow, a Wyoming-based firm licensed to grow and process hemp in Colorado (http://nnw.fm/Ukpg8). It says it will also apply for state licenses to grow industrial hemp in Utah (http://nnw.fm/ukZ3E) and Vermont (http://nnw.fm/7DBe7).
In addition, REFG has reached agreement in principle with a subsidiary of Paper Lantern, LLC to acquire the rights to operate mobile hemp CBD extraction labs. It calls for the labs to operate at hemp farms owned and operated by REFG, as well as at farms that have entered into processing agreements with the company (http://nnw.fm/xo4Wm). It anticipates deploying the mobile units for the October 2018 harvest.
In a news release, Jeremy Roberts, CEO of REFG, said, “Our mobile extraction partnership is another step forward in our plan to participate in the hemp and cannabis industries at strategic levels… We believe the ability to manage supply and demand from seed to sale gives us a competitive edge in the marketplace.”
The company is also adding more political impact to its advisory board, especially in states where medicinal marijuana is legal (http://nnw.fm/qNbp3). It has also added James Gray, mayor of Lexington, Kentucky. In that state, a bill was drafted to legalize medical marijuana but has not yet passed, according to Newsweek (http://nnw.fm/mCHm1).
For more information, visit the company’s website at www.Take.Green
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