POSaBIT Announces Full Integration of Metrc Connect

Rhea-AI Summary

POSaBIT Systems has completed the full integration of Metrc Connect reporting in their cannabis Point of Sale system across all states using the track and trace system. This integration enables POSaBIT's partner dispensaries to automatically report required data to regulatory bodies through their POS software. The development represents a significant advancement in compliance capabilities for POSaBIT's cannabis retail solutions.

Positive

• Achieved full integration with Metrc Connect across all applicable states
• Enhanced compliance reporting capabilities for partner dispensaries
• Strategic partnership with leading industry compliance system

Negative

• None.

TORONTO & SEATTLE--(BUSINESS WIRE)-- POSaBIT Systems Corporation (CSE: PBIT, OTC: POSAF), a leading provider of point of sale software and payments infrastructure in the cannabis industry, has completed work on fully integrating Metrc Connect reporting in their industry leading Point of Sale system for all states that utilize the track and trace system.

“We are excited that POSaBIT has achieved full integration with Metrc Connect across all States, including Oregon,” said Michael Johnson, CEO of Metrc. “POSaBIT’s commitment to adopt Metrc Connect highlights their dedication to providing a smooth transition and optimal experience for their customers.”

All of POSaBIT’s partner dispensaries in Metrc regions now seamlessly report the necessary data to their regulatory bodies through the company’s leading point of sale software.

“We have partnered closely with Metrc over the years and we appreciate their industry leadership when it comes to compliance,” said Ryan Hamlin, CEO/Co-Founder of POSaBIT. “This continued focus on compliance and regulatory requirements by POSaBIT has proven to be one of the main reasons so many merchants have migrated over from older legacy Point of Sale providers to a more innovative POSaBIT POS solution.”

ABOUT POSABIT

POSaBIT (CSE: PBIT, OTC: POSAF) is a FinTech, working exclusively within the cannabis industry. We provide a best-in-class Point-of-Sale solution and are the leading cashless payment provider for cannabis retailers. We work tirelessly to build better financial services and transaction methods for merchants. We bring cutting-edge software and technology to the cannabis industry so that all merchants can have a safe and compliant set of services to solve the problems of a cash-only industry. For additional information, visit www.posabit.com.

ABOUT METRC

Metrc is the most trusted and experienced provider of cannabis regulatory technology systems in the United States. Our solution combines advanced software, radio-frequency identification (RFID), a dedicated customer support team, and a secure database to track cannabis from growth, harvest, and processing to testing, transport, and sale. Metrc is currently engaged in 27 government contracts and serves more than 500,000 users, including growers, testing facilities, dispensaries, state regulators, and law enforcement officials. We are proud to play a leading role in ensuring the safety and security of the nation’s legal cannabis market.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241120543002/en/

Investor Relations: investors@posabit.com

Media Relations:

Oscar Dahl

855-767-2248

hello@posabit.com

Management:

Ryan Hamlin

Co-founder and CEO of POSaBIT

855-767-2248

investors@posabit.com

Source: POSaBIT Systems Corporation

FAQ

What is POSaBIT's latest integration announcement for their cannabis POS system?

POSaBIT (POSAF) announced the complete integration of Metrc Connect reporting in their Point of Sale system across all states using the track and trace system.

How does the Metrc Connect integration benefit POSaBIT's cannabis dispensary partners?

The integration allows POSaBIT's partner dispensaries to seamlessly report required regulatory data through their POS software to regulatory bodies in Metrc regions.

What are the compliance benefits of POSaBIT's Metrc Connect integration?

The integration enhances regulatory compliance by automating data reporting requirements for cannabis dispensaries using POSaBIT's POS system in Metrc-regulated states.