POSaBIT goes live with outlet in New Mexico as recreational sales begin

SEATTLE–(BUSINESS WIRE)–POSaBIT Systems Corporation (CSE: PBIT, OTC: POSAF), the leading payment infrastructure provider in the cannabis industry, introduced its point-of-sale system in New Mexico, coinciding with the start of sales of recreational cannabis in the state on April 1.

“We look forward to serving this new market and continuing our expansion as New Mexico becomes the latest state to legalize the sale of recreational cannabis,” said Ryan Hamlin, CEO/Co-Founder of POSaBIT. “It’s a great market, and our outlet has already proven to be a great choice for dispensaries in the market.

POSaBIT plans to go live in approximately 20 New Mexico dispensaries during the first two months of recreational sales.

About POSaBIT

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

Forward-looking statements

This press release contains forward-looking statements, including statements regarding our business strategy, product development, product development schedule, events and plans of action.

Statements that are not purely historical are forward-looking statements and include all statements regarding beliefs, plans, prospects, expectations or intentions regarding the future, including words or phrases such as “anticipate”, “goal”, “may”, “will”, “could”, “should”, “could”, “may”, “intend”, “expect”, “believe”, “estimate” , “predicts”, “potential”, “plans”, “is designed for” or similar expressions suggesting future results or the negative thereof or similar variations. Forward-looking statements may include, among other things, statements about: our expectations regarding our expenses, sales and operations; our future customer concentration; our anticipated cash requirements and our estimates regarding our capital requirements and our need for additional funding; our ability to anticipate the future needs of our customers; our plans for future products and enhancements to existing products; our future growth strategy and rate of growth; our future intellectual property; and our anticipated trends and challenges in the markets in which we operate. These statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which POSaBIT will operate in the future, including demand for our products, expected costs and the ability to achieve objectives. Although we believe that the assumptions underlying these statements are reasonable, they may prove to be incorrect. Given these risks, uncertainties and assumptions, you should not place undue reliance on these forward-looking statements.

Forward-looking statements are subject to known and unknown risks, uncertainties and other important factors that may cause actual results to differ materially from those expressed or implied by such forward-looking statements, including, but not limited thereto, business, economy and capital. market conditions; the ability to manage our operating expenses, which may adversely affect our financial condition; our ability to remain competitive as other, better-funded competitors develop and market competitive products; regulatory uncertainties; market conditions and demand for and prices for our products; our relationships with our customers, distributors and business partners; our ability to successfully define, design and launch new products on a timely basis that meet the needs of our customers; our ability to attract, retain and motivate qualified personnel; competition in our industry; our ability to maintain our technology leadership; our ability to manage the risks inherent in foreign operations; the impact of technological changes on our products and our industry; our inability to develop new and innovative products; our ability to successfully maintain and enforce our intellectual property rights and defend third-party claims of infringement of their intellectual property rights; the impact of intellectual property litigation that could materially and adversely affect our business; our ability to manage working capital; and our reliance on key personnel. POSaBIT is a start-up company with a short operating history; it may not achieve profitability; and it may not actually fulfill its plans, projections or expectations.

Important factors that could cause actual results to differ materially from POSaBIT’s expectations include consumer sentiment toward POSaBIT’s products and blockchain/cryptocurrency exchange technology generally, litigation, global economic climate , loss of key employees and consultants, additional funding requirements, changes in laws, technological failures, competition and counterparties’ failure to meet their contractual obligations.

Neither we nor any of our representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information contained in this press release. Neither we nor any of our representatives assumes any liability whatsoever, in contract, tort, fiduciary or otherwise arising from the use of information contained in this press release or for omissions from the information contained in this press release. hurry.

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