- REFG acquires 40 acres of land in Utah to grow hemp, applies for state license
- Company also buys SpeedyGrow, which is licensed to grow and process hemp in Colorado
- REFG’s Green is an integrated gateway that is FinCEN compliant and creates a virtual banking environment for licensed cannabis providers, available for online sign up
- Company has doubled down on its cannabis activities, both entering the cultivation and extraction space in Utah and offering Green to licensed cannabis merchants/ dispensaries
Medical Cannabis Payment Solutions Inc. (OTC: REFG) has diversified its commitment to the cannabis industry, as both a licensed grower and processor, while also marketing its financial system ‘Green’, which is designed to help licensed cannabis merchants and dispensaries create a safe and cashless environment for transactions.
REFG offers both licensed dispensaries and retail merchant clients ‘Green’, a financial processing system that creates a cashless digital world of banking. It offers cannabis merchants online signup and is fully FinCEN compliant. Additionally, the company is a first tier payment processor.
REFG has also acquired 40 acres of land to grow hemp in Utah and plans to seek a state license under the recently passed H.B. 302. That license will enable the company to grow industrial hemp as part of the state’s Department of Agriculture and Food licensing program (http://ccw.fm/aLW6r). It has also acquired SpeedyGrow, a Wyoming-based company licensed to grow and process hemp in Colorado. At the same time, it bought SpeedyVeg, a proprietary soil nutrient designed to maximize plant yield. These activities represent an expansion of REFG’s footprint in the state-sanctioned cannabis space (http://ccw.fm/g41RX).
Utah’s legislature this year passed S.B. 130, the Cannabidiol Product Act, which permits the cultivation, production and possession of hemp. It also legalizes the sale and use of cannabidiol (CBD) products (http://ccw.fm/Ec95M).
In a news release, Jeremy Roberts, CEO of REFG, said, “We weren’t initially anticipating entering this space. But after careful consideration, the opportunity to expand our footprint in the state-sanctioned cannabis space was too good of an opportunity for our shareholders to pass up.”
For more information, visit the company’s website at www.Take.Green
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