POSaBIT Systems Corporation (CSE:PBIT,OTC:POSAF) has launched its campaign on the Investing News Network’s cannabis channel.

POSaBIT is a fintech company that has developed an innovative blockchain-based payment processing and point-of-sale (POS) system for businesses forced to rely on cash. POSaBIT designed its system to cater to the American cannabis industry, where companies operate high-risk cash businesses due to federal cannabis laws. While recent legislative proposals have been submitted to allow cannabis-related business to work with banks, the POSaBIT payment processing system has been designed to serve both cash businesses and those fully integrated into traditional payment systems.

POSaBIT intends to secure a first-mover advantage in the United States by establishing operations in cannabis-friendly states before federal cannabis legalization is proposed. To date, the POSaBIT system has been deployed in over 120 stores across California, Colorado, Oklahoma, Arizona, Nevada and Washington. The system collects data for both retailers and manufacturers, enabling businesses to adapt to consumer preferences and market demands. POSaBit has provided its services to a number of major brands including Nike Inc. (NYSE:NKE), GoPro Inc. (NASDAQ:GPRO) and Guess? Inc. (NYSE:GES).

POSaBIT’s company highlights include the following:

  • POSaBIT offers an innovative blockchain-based payment processing and POS system, which is a first-to-market software solution for managing cannabis retail stores.
  • The payment processing and POS system is one of the only compliant systems in the US.
  • Sales through the POSaBIT system are typically 60 percent higher than the cash-only purchase.
  • The POS system is currently used in over 120 stores across California, Colorado, Oklahoma, Arizona, Nevada and Washington.
  • The company provides its POS system to big brand names such as Nike, GoPro, Safeway, & Warner Brothers, and its payments solutions to such major cannabis chains as The Reef dispensaries, Bud Hut, and Starbuds, among many others.
  • POSaBIT processed $85 million in payments in the food services industry in 2018.
  • Salal Credit Union openly acknowledges its relationship with POSaBIT despite the federal stance on cannabis.
  • POSaBIT is led by an experienced management team and board of directors comprised of technology entrepreneurs.
  • Management and the board hold approximately 37 percent of shares.

Click here to learn more about POSaBIT Systems Corporation (CSE:PBIT,OTC:POSAF) and to request an investor presentation.


Avicanna Inc. (the “ Company ” or “ Avicanna ”) (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN) is pleased to announce that all of management’s nominees listed in the Company’s management information circular dated May 25, 2021 were elected as directors of the Company at Avicanna‘s annual general meeting of shareholders held on June 24, 2021 (the ” Meeting “). The detailed results of the vote for the election of directors held at the Meeting are set out below.

Keep reading... Show less

Quantum 1 Cannabis (CSE:QQ) announced its revenue for the third quarter of 2021 has increased by 672 percent and gross profit has increased by 463 percent compared with the same quarter in 2020. Quantum 1 Cannabis CEO Russ Rossi expounded on this exponential growth and what’s behind this remarkable leap. 

“We had an opportunity during our cannabis training to opt into some leases for cannabis retail. So we thought, let’s take a shot at this and see if we can use our experience with mobile location and supercharge. It paid off. It was a new game for everybody. It’s a lot of luck when opportunity meets preparation,” said Rossi. 

Quantum 1 Cannabis attributed the growth to high month-over-month sales coming from its flagship store in North Vancouver, improved demand for specialized “cottage-grown” sativa and indica products, continued training and hiring of best-of-breed staff and management to cater to consumer inquiries and expanded in-house technology for management of human resources, inventory and regulatory requirements. 

“Our plan is to have the maximum number of retail stores possible in British Columbia. We have 10 year leases on these stores, putting everything in on a solid pitch for the city council. I’m pretty confident that we’re going to have eight centers full blast in BC within six months,” explained Rossi. 

Quantum 1 Cannabis has signed a memorandum of understanding to acquire an approved municipal cannabis retail location in one of Vancouver’s most diverse neighborhoods at 41st Avenue and Cambie Street in Vancouver, British Columbia. The flagship location is expected to expand the company’s footprint in the Lower Mainland.

Watch the full interview with Quantum 1 Cannabis (CSE:QQ) CEO Russ Rossi above.

Keep reading... Show less

Process leads to standardized psychedelic extracts that are reproducible, scalable, cost-effective and commercially viable

Numinus Wellness Inc. (“Numinus” or the “Company”) (TSXV: NUMI), a mental health care company advancing innovative treatments and safe, evidence-based psychedelic-assisted therapies, is pleased to announce that its subsidiary Numinus Bioscience Inc. (“Numinus Bioscience”) has filed a provisional patent application with the United States Patent and Trademark Office (USPTO) for a process that dramatically increases the production of therapeutics for use in psychedelic-assisted psychotherapy.

Keep reading... Show less

Opening Marks Company’s 107th Retail Location Nationwide

Strategic Expansion Will Help Serve the State’s Rapidly Growing Cannabis Market

Keep reading... Show less

Ayurcann (CSE:AYUR) entered into a joint venture with Bazelet Group, Israel’s largest privately held medical cannabis company. Ayurcann CEO Igal Sudman shared the company’s excitement about bringing unique terpene-enriched medicinal cannabis to the Canadian marketplace. 

“Canada is a very closed-loop country, and the opportunity to bring a variety of different enhancement and technologically advanced products is very important to us. The relationship that we formed with Bazelet is going to enhance our offerings into the Canadian marketplace,” Sudman said. 

Bazelet has launched multiple lines of terpene-enriched cannabis oils; each one is specifically designed for various indications, symptoms and personal needs. The company’s terpene-enriched products are optimized for women’s health, for elderly population needs, for specific types of pains (muscle, joint, neuropathic) and for improved night sleep. 

According to Sudman, there are a lot of larger companies that have tried to do this, but none have been able to successfully bring innovation into the market. Ayurcann is rapidly forging partnerships with several companies worldwide, including Cannmart, Patient Choice and Kindred Partners.

“We’re growing the business, customer base, relationships and partnerships worldwide. We’re bringing the latest technology into Canada, and enhancing not only our company, but the investors’ value moving forward,” added Sudman. 

Watch the full interview with Ayurcann CEO Igal Sudman above.

Keep reading... Show less