MTrac Secures Michigan Recreational Cannabis Dispensaries
SAN DIEGO, Dec. 03, 2019 (GLOBE NEWSWIRE) -- Global Payout Inc. (OTCPink: GOHE ) (“Global” or the “Company”) is very pleased to announce that they have signed their first recreational cannabis dispensaries in Michigan, whose long lines and booming first day reveal the level of demand in the country’s newest addition to the legal cannabis market.
As a handful of shops this past Sunday in the Ann Arbor region of Michigan opened their doors for recreational sales hundreds of residents withstood inclement weather conditions and waited patiently in long lines to become some of the state’s first residents to legally purchase cannabis for recreational use. Michigan’s first medical dispensaries opened last November and posted enormous sales, raking in over $42,000,000 in the first four months of operation and to date have exceeded $200,000,000 in sales. Currently, 22 communities have formally passed regulations to allow new dispensaries to be licensed, presenting a compelling business opportunity for MTrac and its growth initiatives heading into the new fiscal year.
“We are very excited to be one of the first cashless payment providers available to the residents of Michigan,” said MTrac Tech CEO, Vanessa Luna. “The state’s medical sales have been enormous and estimates for recreational sales reach past one billion dollars, this is a huge opportunity for us to secure a state from the minute cannabis becomes legal. One of the first major obstacles new dispensaries run into is finding financial products such as ours, and we are very pleased to say that MTrac is there to solve that dilemma, and we hope we can do the same for the rest of the state’s dispensaries as they become licensed and open their doors.”
The Company will keep shareholders apprised of its continued expansion in Michigan as business develops.
Sources of content:
About Global Payout, Inc. (OTC Pink:GOHE)
Since the Company’s inception in 2009, Global Payout, Inc. has been a leading provider of comprehensive and customized prepaid payment solutions. From 2014 to 2017 Global focused on identifying new state of the art technologies in a variety of industry sectors and successfully helped launch MoneyTrac Technology Inc. and other companies within the FinTech space. In 2018, Global completed a reverse triangular merger with MoneyTrac Technology Inc. resulting in Global retaining the wholly owned subsidiary, MTrac Tech Corporation. Global’s current focus is continuing to identify new business opportunities while it reorganizes its future business endeavors.
About MTrac Tech Corp.
MTrac Tech Corporation, a Nevada Corporation, is a privately held, wholly owned subsidiary of Global Payout, Inc. MTrac is a software technology, sales and marketing, and business development company focused on “high risk” and “high cost” industries. The Company’s flagship product is the MTrac payment platform offering a full-service solution with technology offerings including Payment Platform, Blockchain, Compliance, POS, E-Wallet, Mobile Application and Digital Payment Solutions. We are one network disrupting the status quo. It is MTrac’s creative vision through the use of its innovative technology solution to become the premier service provider offering the “Key to Cashless®.” Forward-Looking Statements Disclaimer:
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify forward-looking statements by the following words: “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “ongoing,” “plan,” “potential,” “predict,” “project,” “should,” “will,” “would,” or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. Forward-looking statements are not a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time the statements are made and involve known and unknown risks, uncertainty and other factors that may cause our results, levels of activity, performance or achievements to be materially different from the information expressed or implied by the forward-looking statements in this press release. This press release should be considered in light of all filings of the Company that are disclosed on the OTC Markets.com website. Media Contacts: