- After Utah passed law H.B. 302, REFG acquired land to grow hemp, will seek license as part of Utah’s Department of Agriculture and Food licensing program
- Jeremy Roberts, CEO of REFG, says company has entered the cultivation and extraction space in Utah to grow hemp as part of state-sanctioned system
- REFG is a first tier merchant processor; its Green is an integrated gateway that is FinCEN compliant and creates a cashless environment for licensed cannabis providers
Medical Cannabis Payment Solutions Inc. (OTC: REFG) has acquired 40 acres of land to grow hemp in Utah and plans to seek a state license under its recently passed law H.B. 302. The license will enable the company to grow industrial hemp as part of the state’s Department of Agriculture and Food licensing program (http://cnw.fm/l0hvL).
The purchase of acreage on which to grow hemp, under state license, represents an additional revenue stream for REFG. The company’s acquisition of SpeedyGrow in May 2018, a Wyoming-based firm licensed to grow and process hemp in Colorado, was an expansion of REFG’s footprint in the state-sanctioned cannabis space (http://cnw.fm/l0hvL). By acquiring land and applying for a state license in Utah, REFG is reinforcing its additional revenue stream for its investors.
REFG is a Cheyenne, Wyoming-based company that offers both licensed dispensaries and retail merchant clients Green, a financial processing system that creates a cashless digital world of banking. It offers cannabis merchants online signup, and it is fully FinCEN compliant and a top tier level one payment processor.
Utah’s legislature this year passed S.B. 130, the Cannabidiol Product Act, which sanctions the cultivation, production and possession of hemp. It also authorizes the sale and use of cannabidiol products (http://cnw.fm/gDC6w).
In a news release, Jeremy Roberts, CEO of REFG, said, “We have already purchased 40 acres in anticipation of acquiring a license to grow hemp as part of Utah’s state-sanctioned system. With the acquisition of SpeedyGrow, we have now also entered the cultivation and extraction space. This will be the company’s second license and facility.”
For more information, visit the company’s website at www.Take.Green
More from CannabisNewsWire
About CBDWire
CBDWire (CBDW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CBDNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CBDW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CBDW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CBDW brings its clients unparalleled visibility, recognition and brand awareness. CBDW is where news, content and information converge.
For more information please visit https://www.cbdwire.com
Please see full terms of use and disclaimers on the CBDWire website applicable to all content provided by CBDW, wherever published or re-published: https://CBDWire.com/Disclaimer
CBDWire (CBDW)
Denver, Colorado
cbdwire.com
303.498.7722 Office
Editor@CBDWire.com