POSaBIT Continues Eastward Expansion, Goes Live with Point of Sale System in Vermont

Rhea-AI Summary

POSaBIT Systems Corporation has launched its point of sale system in Vermont, marking its entry into the 21st state for cannabis dispensary solutions. The company tailors its system to meet unique state regulations, enhancing its market presence as Vermont has recently opened its first recreational cannabis store. CEO Ryan Hamlin emphasized the firm's commitment to optimizing products for each market. Looking ahead, POSaBIT plans to expand into three additional states by year-end, further solidifying its footprint in the cannabis industry.

Positive

• Launch of POS system in Vermont, enhancing market presence.
• Entry into the 21st state with tailored solutions for cannabis dispensaries.
• Planned expansion into three additional states by year-end.

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• None.

TORONTO & SEATTLE--(BUSINESS WIRE)-- POSaBIT Systems Corporation (CSE: PBIT, OTC: POSAF), the premier cannabis point of sale and payments platform, has gone live with their point of sale system in the Vermont market. While POSaBIT is able to take payments in any state, the unique regulatory requirements of each state mean that the point of sale system is extensively customized for each market. Vermont marks the 21st state that is active with POSaBIT’s dispensary solutions. This is a continuation of the company’s focus on eastward expansion into emerging markets; Vermont’s first recreational cannabis store only opened October 1st of this year.

“Every new state we enter is cause for celebration, and Vermont is no exception,” said Ryan Hamlin, Co-Founder and CEO of POSaBIT. “Our team is laser-focused on learning the ins and outs of each new market, optimizing our products to be the best fit as new states come online, and executing in a way that provides any dispensary with an incredible in-store experience. With Vermont, our team has done exactly that.”

POSaBIT plans to continue expanding into new markets and has contracted dispensaries with three additional states where the company plans to go live by the end of the year.

About POSaBIT

POSaBIT (CSE: PBIT) POSaBIT 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 .

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Source: POSaBIT Systems Corporation