- REFG
has focused its cannabis activities on seeking state licenses in Utah and
Vermont to grow industrial hemp; earlier, it acquired SpeedyGrow, which is
licensed to grow in Colorado
- Vermont
is third state where REFG will seek a state license to grow industrial
hemp; it acquired 40 acres in Utah and plans to buy land in Vermont, where
it anticipates 2019 harvest
- REFG
offers online signup for Green, its FinCEN-compliant integrated gateway
that creates a comprehensive virtual banking environment for licensed
cannabis providers
Medical Cannabis Payment Solutions (OTC: REFG) has expanded
its focus on the cannabis industry and is planning to apply for its third state
license to grow industrial hemp. The company says that it will apply for state
licenses in Utah and Vermont after already purchasing one when it bought
SpeedyGrow, a Wyoming-based firm licensed to grow and process hemp in Colorado
(http://ibn.fm/PfsLS).
REFG is a Nevada corporation that has online signup for
Green, its financial processing system that creates a cashless financial system
for licensed dispensaries and cannabis merchants who are underserved by
traditional banks. REFG is now also an expanding state-licensed grower and
processor of industrial hemp. The company serves as a first tier payment
processor, with its Green platform designed to process transactions by licensed
cannabis dispensaries and merchants (http://ibn.fm/0Ze3k).
REFG is looking at multiple properties in Vermont for
growing industrial hemp, and it plans to apply and register with Vermont’s
Agency of Agriculture Food and Markets. Growers must pay an annual fee and
conform to various farming statutes.
In a news release, Jeremy Roberts, CEO of REFG, said, “While
we are fully committed to our solution to the banking and financial transaction
problems in the state sanctioned marijuana industry, we are pleased thus far with
our diversification into CBD extraction. With the recent approval of a CBD
based medicine by the U.S. Food and Drug Administration and the Drug
Enforcement Agency’s recent clarification, we believe this emerging market is
an important focus for our company.” He added that many company stockholders
had requested that REFG expand its footprint, and this decision was made in
direct response to those petitions. Roberts termed the action “an exciting
step” for the company.
REFG previously acquired 40 acres of land to grow hemp in
Utah and plans to seek a state license under that state’s recently passed H.B.
302. If approved, that license will enable the company to grow industrial hemp
as part of the state’s Department of Agriculture and Food licensing program (http://ibn.fm/iiZwk). These
activities, along with its acquisition of SpeedyGrow, represent an expansion by
REFG into the state-sanctioned cannabis space (http://ibn.fm/YABPZ).
For more information, visit the company’s website at www.Take.Green
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Editor@QualityStocks.com
Scottsdale, Arizona
www.QualityStocks.com
480.374.1336 Office
Editor@QualityStocks.com
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