LOS ANGELES, July 6, 2011 (GLOBE NEWSWIRE) -- Cannabis Medical Solutions Inc. (www.cannabismedsolutions.com/" target="_top" rel="nofollow">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 merchant payment solutions to at least three additional licensed medical dispensaries and wellness care centers in the state of California. The agreement will enable CMSI to provide merchant services to help eliminate cash only transactions, provide patient ID cards for debit transactions and tracking, as well offer digitized personal health records for patients through its partner network.
"With our corporate name change to 'MediSwipe Inc.' expected to officially take place within the next seven days or so, we have been able to add five new agents within California, Colorado and New Jersey, all with strong ties to the medical related and high risk processing industry, and willing to move over large medical related portfolios to our company. We are expecting to transfer at least 5-10 new accounts each week at the minimum, with a goal of writing one million dollars in gross new processing volume each month. Through our banking relationships and proprietary payment technology as well as our product offerings to patients, I believe our new name of "MediSwipe" and share price over the next short months will soon reflect to our new investors and current shareholders that our strategic plan and place in this sector will soon become a success story," stated B. Michael Friedman, CEO for Cannabis Medical Solutions.
About Cannabis Medical Solutions/MediSwipe Inc.
Cannabis Medical Solutions Inc. (OTCBB:CMSI) (http://www.cannabismedsolutions.com/) (www.MediSwipe.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 and digitized personal health records 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.