LOS ANGELES, April 26, 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 an additional thirty (30) new Medical Marijuana dispensaries in the state of Montana. The Montana wellness centers will also be the participating in the CMSI MediPayment patient card, allowing for payment, tracking and medical records of all medicine purchases for the location.
"With potential legislation changes in the state of Montana pending, we are confident that state officials in Montana will recognize the many benefits of the MediPayment patient card. The MediPayment card is the most viable payment solution for patient tracking and virtually eliminating payment fraud or associated crimes within the sector. We hope to prove MediPayment as 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.
CMSI will charge a flat fee per month of $4.95 per card, with no merchant service charges to the centers. Presently, the state of Montana has over 1200 registered caregivers and approximately 70,000 registered patients.
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.
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 email@example.com