MTrac Secures Michigan Recreational Cannabis Dispensaries
December 03 2019 - 08:00AM
InvestorsHub NewsWire
MTrac Secures Michigan Recreational Cannabis
Dispensaries
SAN
DIEGO, CA -- December 3, 2019 -- InvestorsHub 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:
Detroit Free Press:
Sales of recreational marijuana could begin as soon as Dec. 1 in
Michigan
Detroit Free Press:
After 4 months, medical marijuana sales in Michigan exceed $42
million
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:
Global Payout,
Inc.
www.globalpayout.com
(702) 790-2511 Ext. 101
Ir@globalpayout.com
MTrac
Tech Corp.
www.Mtractech.com
(702) 790-2511 Ext. 101
ir@mtractechcorp.com
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