SAN DIEGO, April 23, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- PRESS RELEASE -- Global Payout Inc. and its wholly owned subsidiary MTrac Tech Corporation have announced that the company has formed a strategic alliance with a company in Puerto Rico to offer the company’s signature solution, MTrac, to the legal cannabis community.
Made legal by executive order in 2015, and two years later signed into law by the legislature, medical marijuana in Puerto Rico has become a humming commercial sector in the American territory. To date, the government has issued more than 70 dispensary licenses and over 40 have opened their doors. According to official estimates, the industry has added $11.5 million to the economy of Puerto Rico. Limited banking support presents a particular problem in Puerto Rico where the MTrac system will offer merchants the ability to pay their tax bills, and track their business using Blockchain Technology.
“The company’s move into Puerto Rico, in my opinion, signifies continued and growing acceptance in this industry and evidences the continued expansion of MTrac as a key partner to regulatory agencies looking to bring their legal cannabis industries into compliance. Over the last several months MTrac has shown, through continued growth in revenue, expansion into new states and territories, and the development of strategic partnerships, that they intend to bring MTrac to every legal cannabis business out there,” said CEO Vanessa Luna.
The company will continue to provide updates to its valued shareholders on the current state of their business as the year progresses.
