SOURCE: FastFunds Financial Corp.

November 05, 2014 09:00 ET

FastFunds Financial Corporation Announces the Acquisition of a 49% Equity Stake in a Marketing and Product Distribution Firm Specializing in Cannabis Related Services

WEST PALM BEACH, FL--(Marketwired - November 05, 2014) - FastFunds Financial Corporation ("FastFunds" or the "Company") (PINKSHEETS: FFFC) and its wholly-owned subsidiary, Cannabis Angel, Inc., a company involved in providing financing alternatives, corporate finance and general management consulting services to early-stage cannabis companies and projects, announced today the acquisition of a 49% equity stake in WMII, Inc. ("WMII"), a marketing and product distribution firm that specializes in cannabis related services.

Developed over the past several months, WMII has built an extensive database of prospective customers and retail relationships that exceed over 1,000 medical and recreational dispensaries throughout the Colorado, Washington State and California regions. In addition to marketing the Company's Cannabis GreenCard, WMII will market several other products that it retains distribution rights to, such as the THC Test Kit. The THC Test Kit allows users to test the potency of any cannabis strain prior to making a purchase. Having secured distribution rights for the THC Test Kit allows WMII to initiate the sale of the product and to generate revenues from its roll-out into the market. WMII is currently negotiating a sales and distribution partnership that would allow both the THC Test Kit and the Cannabis GreenCard to be made available in a direct-to-consumer and retail setting throughout a large segment of the California market.

Following a press release dated October 30, 2014, pertaining to the marketing and distribution agreement entered into between the Company and WMII, the Cannabis GreenCard will be featured as a signature item and marketed for sale to dispensary owners across the Colorado, Washington State and California regions. Through the Company's existing 49% equity ownership in Cannabis Merchant Financial Solutions, Inc. ("CMFS"), the launch of the Cannabis GreenCard will be amplified significantly given today's announced equity stake in WMII. 

"We are very pleased to have entered into an agreement with FastFunds. We believe that the equity position we have sold will contribute to the long-term success of both companies. Our goal of having access to capital markets and administrative resources that allow us to maximize our marketing reach within the cannabis community has been enhanced through this partnership," commented Angela Knittel, President of WMII, Inc.

Additional information on WMII, its sponsors and partners, can be found on their website at:

http://www.WorldwideMarijuanaCommunity.com/ 

WMII does not engage in activities that violate Federal laws. Shareholders of the Company can expect to receive regular updates pertaining to these and other developments in the weeks to follow.

About FastFunds Financial Corporation

FastFunds Financial Corporation ("FastFunds" or the "Company") is a holding company that is publicly traded on the OTC Pink exchange, under the symbol "FFFC." Through its wholly-owned subsidiaries, Cannabis Angel, Inc. and The 420 Development Corporation, the Company is focused on acquiring and building a portfolio of revenue producing companies that provide ancillary services to the cannabis industry. FastFunds does not engage in activities that violate Federal laws. 

FORWARD-LOOKING STATEMENTS

This news release may include "forward-looking statements" regarding FastFunds Financial Corporation, and its subsidiaries, business and project plans. Such forward-looking statements are within the meaning of Section 27A of the Securities Act of 1933, as amended, and section 21E of the United States Securities and Exchange Act of 1934, as amended, and are intended to be covered by the safe harbor created by such sections. Where FastFunds Financial Corporation expresses or implies an expectation or belief as to future events or results, such expectation or belief is believed to have a reasonable basis. However, forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. FastFunds Financial Corporation does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

Contact Information

  • For Further Information Please Contact:

    FastFunds Financial Corporation & Cannabis Angel, Inc.
    Mr. Henry Fong
    Chairman and Chief Executive Officer
    Phone: (561) 514-9042