CHICAGO, IL, Oct. 09, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- CannaTrac® Technology, Inc. (“CannaTrac®” or “the Company”), the leading cashless payment solution for the cannabis industry, today announced an agreement with Timoneer Strategic Partners (“Timoneer” or “TSP”) as a capital advisor.
Timoneer will work closely with CannaTrac to best prepare the Company for a future capital raise and provide guidance on pre-steps to Initial Public Offering (IPO). CannaTrac aims to raise $15M with the help of TSP prior to the company going public. CannaTrac recently signed an agreement to offer a universal application for the CannaCard mobile payments platform to be accessible for all cannabis retailers nationally.
“Since the launch of CannaTrac, we have consistently stayed attentive to market news and looked to bring on a strategic partner that could assist us in reaching our capital goals,” said CannaTrac Vice Chairman and CEO Thomas Gavin IV. “We believe that our agreement with Timoneer Strategic Partners will help prepare CannaTrac for a future IPO; not to mention, provide us with the guidance and expertise necessary to continue to grow.”
Timoneer Strategic Partners was founded earlier this year with a vision to provide bespoke capital and advisory solutions to closely held small to medium-sized businesses across a variety of industries. TSP is committed to driving outsized, risk-adjusted returns for their investors, as well as crafting and delivering creative, value-enhanced advisory solutions for their corporate clients.
“We are excited to work with CannaTrac, a Company in which we see great potential, and look forward to partnering with Tom and his team to assist CannaTrac in the execution of its growth strategy,” said Timoneer Strategic Partners Managing Partner, Britt Barclay.
For more information about CannaTrac®, visit https://www.cannatrac.com/.
ABOUT CANNATRAC®
CannaTrac® is dedicated to bringing safety to the cannabis industry by serving as the industry’s leading cashless mobile payment system solution. CannaTrac® created the CannaCard® and the CannaCard App™ to provide consumers and retailers with a convenient way to benefit from increased safety and convenience through cashless purchases within the legal cannabis industry. Shop.Pay.Earn Rewards™ with the CannaCard®. To learn more about CannaCard® or register as a merchant, please visit https://cannatrac.com/