POSaBIT Continues to Expand Reach, Enters the New Mexico Market

Rhea-AI Summary

POSaBIT Systems Corporation (OTC:POSAF) has announced its entry into the New Mexico cannabis market by partnering with a major retail chain. This marks the company's operation in its 15th state as part of its initiative to expand across the U.S. cannabis sector. CEO Ryan Hamlin expressed enthusiasm for entering New Mexico, recognizing it as an emerging market. POSaBIT specializes in payment processing solutions for cash-only businesses, particularly in high-risk sectors like cannabis, aiming to enhance safety and transparency for merchants and consumers alike.

Positive

• Expanded into New Mexico, marking operation in the 15th state.
• Partnered with a major retail chain, enhancing market presence.
• Continued aggressive expansion plans through the end of the year.

Negative

• None.

SEATTLE--(BUSINESS WIRE)-- POSaBIT Systems Corporation (CSE: PBIT, OTC:POSAF), the leading provider of payments infrastructure in the cannabis industry, is proud to announce their entry into the burgeoning New Mexico cannabis market, partnering with one of the largest retail chains in the state.

“As we continue to offer our services to more and more local markets, it is always exciting to enter a new state for the first time,” said Ryan Hamlin, CEO/co-founder of POSaBIT. “We see New Mexico as a big up and coming market, and this is just another step in our company’s initiative to reach every corner of the US cannabis industry.”

This marks the 15th state that POSaBIT is operating within and the company plans to aggressively pursue further expansion throughout the end of the year and beyond.

About POSaBIT

POSaBIT (CSE: PBIT) is a financial technology company that delivers unique and innovative payment processing and point-of-sale systems for cash-only businesses. POSaBIT specializes in resolving pain points for complex, high-risk, emerging industries like cannabis with an all-in-one solution that is compliant, user-friendly and utilizes top-of-the-line hardware. POSaBIT’s unique solution provides a safer and transparent environment for merchants while creating a better overall experience for the consumer. For additional information, visit: www.posabit.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210922005095/en/

Investor Relations:



investors@posabit.com



Media Relations:



Oscar Dahl

855-767.2248

oscar@posabit.com



Management:



Ryan Hamlin

Co-founder and CEO of POSaBIT

855-767-2248

investors@posabit.com



Hayden IR

James Carbonara

(646) 755-7412

james@haydenir.com

Source: POSaBIT Systems Corporation

FAQ

What is POSaBIT's recent announcement regarding New Mexico?

POSaBIT announced its entry into the New Mexico cannabis market, partnering with a major retail chain.

How many states does POSaBIT operate in now?

POSaBIT is now operating in 15 states after entering New Mexico.

What does POSaBIT specialize in?

POSaBIT specializes in payment processing and point-of-sale systems for cash-only businesses, particularly in the cannabis industry.

What are POSaBIT's future plans after entering New Mexico?

POSaBIT plans to aggressively pursue further expansion throughout the end of the year and beyond.