LOS ANGELES, CA--(Marketwired - October 08, 2013) - MediSwipe Inc. (www.MediSwipe.com) (OTCQB: MWIP), the leader in Compassionate Care Technology Solutions for the medicinal marijuana industry, today announced that Company has signed agreements for satellite corporate offices in Denver, Colorado to provide onsite services to its expanding client base within the state. MediSwipe plans to provide consulting services to growing facilities, financial solutions and services to dispensaries and related businesses within the most progressive and rapid growing cannabis industry based state of Colorado. MediSwipe will not grow or dispense marijuana, pursuant to requirements under state and federal law, but will come to Colorado with the goal of enhancing and improving applications available to the industry currently.
The company has hired legal counsel within Denver, and is presently in negotiations with at least two Colorado based dispensaries to provide full services including the digitizing of patient records, secure packaging and licensing of the Mello Meals brand for the medicinal and recreational markets and the release of two new beverage brands that will be licensed as CBD products. MediSwipe will receive royalties from the use and licenses of the brands throughout the state.
Most industry experts believe the legal marijuana industry is poised to experience dynamic expansion. Twenty states plus the District of Columbia have now approved medical marijuana and eight others are expected to follow. Experts predict that the current growth trend will accelerate and that the regulated, domestic cannabis market could grow from $1.5 billion to $20 billion over the next five years.
Colorado voters first approved medical marijuana in 2000 and the state has been recognized as a national leader in the industry for over a decade. Under the provisions of recently passed Amendment 64, the Colorado market will be expanded in January 2014 to include adult, non-medical use. Cannabis revenues in Colorado are expected to triple in 2014, growing from $200 million to over $600 million, according to a study conducted by Colorado State University. The study did not include the potential sales from the expected 65 million tourists who will visit the state and may purchase marijuana once recreational options hit the state after 2014.
"MediSwipe has long established itself as the first publicly traded Company to provide financial services, and merchant processing for canna-businesses. We believe the state of Colorado is ahead of the curve as far as legislation is concerned, and we wanted to be at ground zero before the recreational market hits there with a full management and sales team in place. We have know these people over the last five years, and have provided them services in the past making our barrier to entry lower than anyone else in this industry. Our products on the financial side, beverages Chillo and C+ Swiss, and our strategic alliances with our portals Marijuanadoctors.com and Potlocator.com make us the ideal partner for a 360 degree business relationship within this sector. I truly believe MediSwipe will evolve as a model within the regulated canna-business for not only Colorado, but for other states going forward," stated B. Michael Friedman, CEO of MediSwipe Inc.
About MediSwipe Inc.
MediSwipe Inc. (www.MediSwipe.com) provides innovative patient solutions and is the leader in Compassionate Care Technology for the medicinal marijuana industry. MediSwipe provides terminal-based service packages and integrated Web Portal add-ons for physicians, clinics, hospitals and medical dispensaries that include: digital patient records, Electronic Referrals, Credit/Debit Card merchant services, Check Guarantee and Accounts.
This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of MediSwipe Inc. to be materially different from the statements made herein.