SAN DIEGO, CA, Oct. 03, 2017 (GLOBE NEWSWIRE) -- Global Payout, Inc. (OTCPink: GOHE) (“Global”) is pleased to announce that its majority owned subsidiary, MoneyTrac Technology, Inc. (“MTRAC”, the “Company”) has completed the execution of a joint venture partnership agreement (the “JV”) with MediaTechnics Corporation’s (OTCPink: MEDT) majority owned subsidiary, BlazeNow Inc.
The execution of the JV comes shortly after the announcement on September 13, 2017 that the companies had signed a Letter of Intent to enter into advanced discussions about the potential establishment of a JV as means of providing them the basis to work in a collaborative effort to advance each of their existing business objectives. Included in this JV is a two-year term with revenue share agreement for sales facilitated by the MoneyTrac Sales and Marketing team within the Western US region.
Referred to as the "Yelp" of the cannabis industry by NY Daily News, BlazeNow is an advertising and data collection platform that connects cannabis-related businesses with patients and customers through its iOS and Android-based applications and website. With the establishment of the JV, MTRAC will begin working with BlazeNow on the development and effective deployment of a variety of marketing strategies to help the BlazeNow brand establish a stronghold in an area of the cannabis industry that is primed to benefit from its application and technology. Additionally, the MTRAC team will also seek to fortify BlazeNow’s technology through features available within its Virtu Network Solutions platform.
“The application technology developed by BlazeNow has the potential to become one of the most valuable resources to patients, consumers, and retailers in the cannabis industry,” said MTRAC COO, Vanessa Luna. “We recognized this potential from the first day we were introduced to Mr. Carr (BlazeNow CEO, Jeremy Carr) and his team, and through this newly established joint venture, we are excited to put the business, networking, and technology tools we have acquired to use in helping the BlazeNow brand breakthrough and flourish within the industry,” Ms. Luna further remarked.
“Completing this Joint Venture with MoneyTrac is a huge step forward for BlazeNow,” said Jeremy Carr. “This gives us an opportunity to gain access to valuable resources that can be leveraged in a manner to help establish a significant presence in our industry. I look forward to launching this collaborative effort over the next several days which will be focused on the development of core strategies that will effectively establish our brand as a premier application technology within the cannabis industry,” Mr. Carr commented further.
About Global Payout, Inc. (OTC Pink: GOHE)
Since the Company's inception in 2009, Global Payout, Inc. has been a leading provider of comprehensive and customized prepaid payment solutions for domestic and international organizations distributing money worldwide. In 2014, Global introduced its first online payment platform called the Consolidated Payment Gateway (CPG), which allowed its enterprise clients to transfer money to international bank accounts, mobile accounts, and prepaid card accounts. The development of the CPG became the foundation for the introduction of its new, state of the art FINTECH payment system in 2017, for both online and mobile applications to allow account holders to maximize an expanded suite of financial services and minimize operational costs. Global will continue to offer their FINTECH payment system to many vertical markets for support of foreign currency exchange and digital currency, including ongoing support of the banking industry and international governments.
About MoneyTrac Technology
MoneyTrac Technology, Inc. is a pioneer in offering a full-service solution for alternative banking and electronic financial solutions and provides all aspects of financial technology including E-Wallet and mobile apps services for businesses and companies in various "high-risk" industries. MoneyTrac's technology platform allows for its clients to access their financial information from anywhere in the world, in addition to providing tracking and compliance to help them manage and control the flow of all revenue through their business.
About BlazeNow ™
The flagship product of the BlazeNow™ brand is an advertising and data collection platform. A modern user interface for web, mobile, iOS and Android, BlazeNow™ provides an online community to connect cannabis-related businesses with patients and customers. Users will be able to 1.) locate nearby dispensaries, doctors, delivery services, smoke and vape shops 2.) filter them according to their specific preferences 3.) then rate, review and share their experiences on Social Media. BlazeNow™ will feature brand and product advertising from a plethora of national and local companies that wish to target the vast cannabis consumer base. BlazeNow™ aims to become a primary tool that is synonymous with the entire cannabis industry. Aside from the map/list utility aspects of the user interface, BlazeNow™ will offer a user reward program, an affiliate reward program, and back-end enterprise software that will include a detailed inventory tracking system, sales/traffic stats and social media integration. For more information, visit www.BlazeNow.com
Forward-Looking Statements Disclaimer:
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify forward-looking statements by the following words: "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "ongoing," "plan," "potential," "predict," "project," "should," "will," "would," or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. Forward-looking statements are not a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time the statements are made and involve known and unknown risks, uncertainty and other factors that may cause our results, levels of activity, performance or achievements to be materially different from the information expressed or implied by the forward-looking statements in this press release. This press release should be considered in light of all filings of the Company that are contained in the Edgar Archives of the Securities and Exchange Commission at www.sec.gov.
FOR ADDITIONAL INFORMATION:
Global Payout, Inc.
www.globalpayout.com
MoneyTrac Technology, Inc.
www.moneytractechnology.com