LOS ANGELES, March 9, 2011 (GLOBE NEWSWIRE) -- Cannabis Medical Solutions Inc. ( http://www.cannabismedsolutions.com/ ) (OTCBB:CMSI), a leading company specializing in merchant payment solutions and financial products for the medical marijuana and health care industries, today announced an agreement to provide financial payment and processing solutions to a new Medical Marijuana dispensary in the state of Montana. The Montana dispensary will also be the first location in the state to place patients on the CMSI MediPayment patient card, allowing for payment, tracking and medical records of all medicine purchases for the location. The new merchant services agreement and MediPayment plan in Montana is expected to bring an additional $150,000 annually in gross processing and MediPayment charges.
"We are extremely pleased to expand our financial service offerings for the medical marijuana sector to Montana. We expect to prove that not only is the MediPayment card the most viable solution for patient tracking, payment and eliminating payment fraud for individual medical dispensaries, but should be the standard and required payment solution for all states allowing the legal purchase of medical marijuana," stated Michael Friedman, acting CEO for Cannabis Medical Solutions
About Cannabis Medical Solutions
Cannabis Medical Solutions Inc. (OTCBB:CMSI) ( http://www.cannabismedsolutions.com/ ) offers a full spectrum of secure and reliable transaction processing solutions using traditional, Internet Point-of-Sale (POS), e-commerce and mobile (wireless) terminals in conjunction with Industry Alliance Partners. The Company has recently focused on providing payment solutions to the licensed medical marijuana dispensaries throughout 15 states. In an effort to keep these businesses within the guidelines of CO Amendment 20, SB 109 and HB 1284, CA Proposition 215, SB 420, SB 1449 and Proposition 19. Cannabis Medical Solutions (CMSI) offers reliable merchant payment solutions and closed loop pre-paid stored value and loyalty cards as a unique cash alternative to these regulated dispensaries for both operators and members of collectives. CMSI will seek to capitalize on this presently untapped and much needed solution and presently provides services to multiple locations throughout California, Colorado and Montana.
FORWARD-LOOKING DISCLAIMER
This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Cannabis Medical Solutions Inc. to be materially different from the statements made herein
CONTACT: Cannabis Medical Solutions Inc. Investor Relations: 305-396-9097 info@cannabismedsolutions.com