LOS ANGELES, May 13, 2010 (GLOBE NEWSWIRE) -- Cannabis Medical Solutions Inc. (www.cannabismedsolutions.com) (OTCBB:CMSI), a leading company specializing in both brick-and-mortar and online merchant payment solutions and financial security products for medical marijuana dispensaries and high-risk merchant accounts and services, today announced that the Company is presently in negotiations to acquire and open at least two medical marijuana dispensaries within the state of California.
"The network of medical marijuana dispensaries that CMSI has created by providing financial services to our clients in three states over the last six months, has presented a unique opportunity for our company and shareholders. It has always been a part of our business plan to not only partner with dispensaries on the merchant processing and financial security side, but to franchise, consult and brand licensed dispensaries throughout legal jurisdictions under the Cannabis Medical Solutions name. We are presently in the due diligence process and seeking legal advice with regard to federal legislation that would allow us to follow this path and provide a proven model of ownership, financial accountability to reporting state agencies and be within federal and state guidelines," stated Kyle Gotshalk, CEO for Cannabis Medical Solutions.
About Cannabis Medical Solutions Inc.
Cannabis Medical Solutions Inc. (OTCBB:CMSI) (http://www.cannabismedsolutions.com/) has quickly become the most recognized brand and partner in both online and wireless niche merchant payment solutions. The Company 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 14 states. In an effort to keep these businesses within the guidelines of CA Proposition 215 and SB 420, Cannabis Medical Solutions 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, New Mexico, 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.