Cannabis-focused financial services company Medical Cannabis Payment Solutions (OTC: REFG) this morning announced that it is working on growing industrial hemp as part of Vermont’s industrial hemp program. Per the update, the company is currently evaluating multiple properties to commence growing and anticipates completing its first harvest in 2019. “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,” Jeremy Roberts, CEO of REFG, stated in the news release. “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… We’ve been contacted by many shareholders who want to see us expand our footprint and this decision is in direct response to those petitions.” Under Vermont law, industrial hemp growers must register annually with the state’s Agency of Agriculture, Food and Markets and pay a registration fee. Growers must also comply with various farming statutes, including the Required Agricultural Practices rules.
To view the full press release, visit http://cnw.fm/0VaXy
About Medical Cannabis Payment Solutions
Medical Cannabis Payment Solutions engages in providing end-to-end management, across multiple management systems, for medicinal marijuana operations. Many medicinal marijuana companies have experienced such rapid growth that they are finding it difficult to manage all aspects of their operation. In order to become a successful and compliant medicinal marijuana operation, effective management must depend on many different systems. REFG solves the fragmentation problem by identifying tools that are important to dispensaries, and customizing those tools specifically catered to the industry. The company strives to create awareness within the medicinal marijuana industry and to develop an environmentally friendly, economically sustainable business while increasing shareholder value. For more information, visit the company’s website at www.Take.green
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