LOS ANGELES, May 3, 2011 (GLOBE NEWSWIRE) -- Cannabis Medical Solutions Inc. () (OTCBB:CMSI), a leading company specializing in merchant payment solutions and financial products for the medical marijuana and health care industries, today announced changes and additions to the Company's Board of Directors. Effective immediately, Cherish Adams has resigned as President, Secretary and Director, and has been succeeded by Erick Rodriguez now President and Director. B. Michael Friedman will remain as CEO and Director. Barry Hollander has joined CMSI as CFO and Director. The Company will formally file a form 8K within the next twenty-four hours documenting the new board of directors.
"I am extremely pleased to announce the appointments to our board and I am confident their unique backgrounds along with their proven track records will contribute to the growth and development of the company. Our newly appointed and seasoned board members have years of public company, financial, e-commerce and accounting experience behind them, and we look forward to moving ahead with positive momentum on behalf of our shareholders. Having additional management on the west coast to service our clients in California and Colorado will allow us to expand at a much more rapid pace," stated B. Michael Friedman, CEO for Cannabis Medical Solutions.
Cannabis Medical Solutions expects to continue to expand its Board of Directors over the next several months enhancing the Board's capacity to provide strategic counsel, identify future management talent and assist the executive team in achieving the company's operational and financial objectives. "We are aggressively advancing our plans to expand our merchant services to wellness centers, MediPayment patient cards and financial accounting services to our clients. We will now be able to add virtual CFO and accounting services to our service offerings for all our clients to keep them compliant on both the for profit and non-profit models in each state," further stated B. Michael Friedman, CEO.
B. Michael Friedman-CEO brings to Cannabis Medical Solutions a 20+ Year Chronicle of Success Driving Benchmark-Setting Growth and Expansion for Globally Focused Fortune 100, Turnaround, and Start-Up Companies. He has proven himself as a Results-proven, growth oriented, globally focused leader with respected success in multiple industries and markets. Mr. Friedman has a proven track record in delivering exceptionally high shareholder returns and profitability, driving vision, and achieving critical strategic goals. He has been a valued contributor to key strategic acquisitions and highly successful joint ventures. Mr. Friedman has been profiled on two occasions in Florida Business Journal as leading entrepreneur and CEO in business start-ups, was a Featured Speaker at Nasdaq Stock Exchange and a guest speaker on nationally syndicated financial radio programs. Mr. Friedman brings investment banking experience and knowledge of the public markets as a past employee of Bear Sterns, and has achieved a business degree from a Florida state university.
Erick Rodriguez, President and Secretary brings over 20 years experience in sales and marketing and brings a breadth of consumer-direct and B2B sales knowledge and success to CMSI. Over the last 15 years , Erick has been on the forefront of several leading technologies including Health Care, Loyalty Platforms, Online Travel and e-Commerce. Erick received his degree in Business Administration from the University of San Diego
Most recently, Erick has been directing the sales and strategy for Fusion Care Systems, a health care technology company focusing on delivering solutions for Aging in Place and Disease Management. Prior to helping found Fusion Care Systems, Erick was Vice President of Sales for FideliSoft. While at FideliSoft, Erick was instrumental in securing the company's largest loyalty client, Harrah's Entertainment. Prior to joining FideliSoft, Erick was involved in running several online travel companies including LasVegas.com and Key2Travel. Erick was also instrumental in developing Travelscape which sold to Expedia and later became the core hotel product in Expedia's market leading hotel merchant program. Travelscape sold to Expedia in 2000 for $100 million. Erick also held management roles with Sprint and Sabre, both fortune 500 companies.
Barry Hollander-CFO has been the Chief Financial Officer of TECHS LOANSTAR, INC. (a publicly traded company) since February 2010 and for its predecessor ZenZuu USA, Inc. since its inception in June 2009. Mr. Hollander has been the Chief Financial Officer of ZZPartners, Inc from its inception (April 2008) through its merger with ZZUSA. Mr. Hollander has been the Acting Chief Executive Officer of FastFunds Financial Corporation, a publicly traded company since January 2007. Prior to becoming the Acting CEO of FastFunds, Mr. Hollander had been a financial consultant to FastFunds. Mr. Hollander has been the chief financial officer of China Nuvo Solar Energy, Inc. a publicly traded company since May 2002. Mr. Hollander has a BS degree from Fairleigh Dickinson University and passed the uniform certified public accountant exam.
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