Cannabis Medical Solutions Inc. (CMSI) leaps on agreement deals

Posted on: May 2nd, 2011
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Cannabis Medical Solutions Inc. (OTCBB: CMSI) saw its shares climb 6.5% to 2.13 cents Monday, after it announced multiple agreements to provide financial payment and merchant services to at least 15 additional Medical Marijuana wellness centers in Colorado. Volume for the stock reached 5.9 million shares Monday, nearly tripling its daily average.

The dispensary and wellness center operations are mostly based in Denver, and are presently being boarded on the CMSI payment network, and we expect the completed transition to our financial services platform to be completed over the next 30 to 60 days

Based on current operations and merchant services volume, the Company expects the new dispensary operations will provide at least $2 million annually in gross merchant processing volume.

Cannabis Medical Solutions CEO Michael Friedman commented, “We are quite pleased with the latest surge in clients within the medical marijuana sector seeking out CMSI as a partner to their operations. We pledge to continue to offer the most secure and compliant banking and payment solutions within the sector, to ensure our client list will remain within legal guidelines as proposed by cooperating jurisdictions.”

Los Angeles-based Cannabis Medical Solutions Inc. is a leading company specializing in merchant payment solutions and financial products for the medical marijuana and health care industries.

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