Marijuana Sector Remains One Of Markets Hottest Industry
Behind Newest Products and Services
Palm Beach, FL (November 16, 2016) -- The exploding cannabis and
legal marijuana industry, globally and within the United States, is
calling for a significant expansion and improvement of both
services and operations as marijuana stocks within the industry aim
to capitalize on the unprecedented momentum. Active companies
in the sector this week include: Vemanti Group, Inc. (OTC:
VMNT), Medical Marijuana, Inc. (OTC:
MJNA), Agritek Holdings, Inc. (OTC:
AGTK), Cannabix Technologies Inc. (OTC:
BLOZF) and Medical Cannabis Payment Solutions (OTC: REFG).
Vemanti Group, Inc. (OTC PINK:
VMNT) a diversified holding corporation, announced today that
its preparing to launch a new wholly-owned subsidiary, which will
look to provide a comprehensive mobile commerce and payments
service for the emerging cannabis industry. Through
their smartphones, the service will enable retail customers to pay
for goods at any participating dispensary without using physical
cash. It will also present dispensaries, growers, and other
legitimate participants of the industry with the opportunity of
carrying out non-retail transactions among themselves in digital
payments.
Read the full Vemanti (VMNT)
Press Release at: http://marketnewsupdates.com/news/vmnt.html
The Company believes that the emerging legal cannabis industry
where retail and non-retail transactions, including vendor payments
and payroll, are almost exclusively paid for with cash presents a
real challenge for financial institutions. Concerned about the
evolving conflict between federal and state laws, they are eager to
avoid the inherent risks associated with this cash-intensive
sector. It is widely acknowledged that many are unwilling to go to
the expense of establishing and maintaining the type of thorough
due diligence program for this emerging market at the present time
in order to comply with growing demands of Know-Your-Customer (KYC)
guidelines, anti-money laundering regulations, and the US Patriot
Act. As the result, traditional banking and payment solutions have
been out of reach for the vast majority of cannabis
businesses.
The cannabis industry needs access to digital payments in order
to grow, and consumers want a safe and secure way to purchase
marijuana products without always relying on cash. Our goal for the
new subsidiary is to launch a service that alleviates the risk of
cash transactions and helps dispensaries monitor and record data
needed to address concerns about violating anti-money laundering
laws, with the long-term goal of moving transactions away from cash
altogether. It will comply with every relevant regulatory
requirement and provide a sustainable solution for the cannabis
industry, commented Tan Tran, CEO of Vemanti Group.
In other cannabis developments and happenings to watch this week
in the markets:
StoneBridge Partners, LLC -- a global finance communication and
consulting firm -- announces the release of an in-depth business
analysis of Medical Marijuana, Inc. (OTC PINK:
MJNA) presented in a comprehensive report. The report, which
outlines the company's formation and current operations, also
offers insight into the perceived opportunities in the
explosive-growth market of cannabis. It explores the Company's
diversified portfolio of cannabis organizations and brands that
continue to flourish as new markets open and existing markets
continue to develop
Agritek Holdings, Inc. (OTC:
AGTK) closed down slightly on Tuesday on just over
6.88 Million shares traded by the market close. Agritek
Holdings, Inc. offers various products and services to the
medicinal marijuana sector in the United States. It distributes
hemp-based nutritional products; and provides solutions for
electronically processing merchant transactions.
Cannabix Technologies Inc. (OTC Pink:
BLOZF) closed up over 24% on Tuesday at $0.59 on just
under 1 Million shares traded by the market close.
Cannabix Technologies, developer of the Cannabix Marijuana
Breathalyzer for law enforcement and the workplace, recently
released images of its Beta 2.0 Cannabix Marijuana Breathalyzer.
New images of the device can be viewed at www.cannabixtechnologies.com.
Medical Cannabis Payment Solutions (OTC: Pink:
REFG) works to solve the fragmentation problem by identifying
tools that are important to dispensaries, and customizing those
tools specifically catered 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.
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