OTCQX:POSAF

POSaBIT Announces Termination Notice from Akerna

Retrieved on: 
Friday, April 7, 2023
Banking, Software, Other Retail, Professional Services, Cannabis, Tobacco, Other Natural Resources, Fintech, Payments, Technology, Natural Resources, Retail, Finance, CSE, Data, PBIT, Payment service provider, Acquiring bank, OTC, Lease, Notice

POSaBIT Systems Corporation (CSE: PBIT, OTC: POSAF) (the “Company” or “POSaBIT”), a leading provider of payments infrastructure in the cannabis industry, today announced the receipt of a notice of termination (the “Notice”) from Akerna Corp. (“Akerna”) in connection with the Company’s previously announced definitive agreement to acquire MJ Platform, Leaf Data Systems and Ample Organics (the “Acquired Companies”).

Key Points: 
  • POSaBIT Systems Corporation (CSE: PBIT, OTC: POSAF) (the “Company” or “POSaBIT”), a leading provider of payments infrastructure in the cannabis industry, today announced the receipt of a notice of termination (the “Notice”) from Akerna Corp. (“Akerna”) in connection with the Company’s previously announced definitive agreement to acquire MJ Platform, Leaf Data Systems and Ample Organics (the “Acquired Companies”).
  • The Notice states that Akerna has determined that a third party proposal for the Acquired Companies (the “Alternative Offer”) is reasonably likely to result in a superior offer under the definitive agreement.
  • After considering all relevant circumstances, the POSaBIT board and management unanimously agreed not to increase its offer to match the Alternative Offer.
  • POSaBIT announced earlier this week that it had acquired payments and compliance solutions provider Hypur for $7.5 million, adding over $100 million in annualized payment Gross Merchandise Value1.

POSaBIT Acquires Payments Solutions Provider Hypur for US$7.5 Million, Adding Over US$100 Million in Annualized Payment GMV

Retrieved on: 
Monday, April 3, 2023
Technology, Payments, Fintech, Banking, Electronic Commerce, Cannabis, Professional Services, Software, Natural Resources, Minority, CSE, MI, Line, PBIT, Toronto Stock Exchange, Bonus, Android, ACH, E-commerce, Sale, IOS, NYSE American, PIN, Acquisition, American Stock Exchange Building, OTC, Growth, GMV, Security (finance), Bank, Drug, Online shopping, Hypur, Perga

Adds 9 experienced professionals, including Michael J. Sinnwell, Jr., one of the most experienced cannabis payments and bank compliance experts in the industry.

Key Points: 
  • Adds 9 experienced professionals, including Michael J. Sinnwell, Jr., one of the most experienced cannabis payments and bank compliance experts in the industry.
  • Includes Hypur Pay app on the Android and iOS app stores and over 165,000 Hypur Pay consumer profiles.
  • Adds strong B2B capabilities, including invoicing and ACH payments, allowing POSaBIT to provide merchant services to cannabis cultivation and grow operations.
  • "We are thrilled to announce that POSaBIT has acquired Hypur, a leading provider of compliance and payment solutions for the cannabis industry.

POSaBIT Expects FY 2023 Revenue of $60 to $63 Million, Gross Profit of $15 to $17 Million and to Resume Profitability on an Adjusted EBITDA Basis

Retrieved on: 
Tuesday, March 21, 2023
Technology, Payments, Other Retail, Finance, Fintech, Cannabis, Specialty, Professional Services, Retail, Natural Resources, Tax, Depreciation, EBITDA, Acquisition, Data, Sale, Cryptocurrency

“Our business continues to grow at a high rate, significantly outpacing the growth rate of the cannabis market as a whole,” said Ryan Hamlin, CEO and Co-founder of POSaBIT.

Key Points: 
  • “Our business continues to grow at a high rate, significantly outpacing the growth rate of the cannabis market as a whole,” said Ryan Hamlin, CEO and Co-founder of POSaBIT.
  • Adjusted EBITDA is a non-IFRS measure used by management that does not have any prescribed meaning by IFRS and that may not be comparable to similar measures presented by other companies.
  • The Company also believes that securities analysts, investors and other interested parties frequently use Adjusted EBITDA in the evaluation of companies, many of which present similar metrics when reporting their results.
  • We caution readers that Adjusted EBITDA should not be substituted for determining net loss as an indicator of operating results, or as a substitute for cash flows from operating and investing activities.

POSaBIT to Participate in a Fireside Chat at the 35th Annual Roth Conference on Monday, March 13, 2023, at 2:00 pm PT

Retrieved on: 
Tuesday, March 7, 2023
Other Retail, Technology, Tobacco, Professional Services, Payments, Cannabis, Natural Resources, Retail, Software, Fintech, Hardware, Conference, PBIT, Webcast, CSE, Sale, OTC, Broadcasting, Financial adviser, Security (finance)

POSaBIT Systems Corporation (CSE: PBIT, OTC: POSAF), the premier point-of-sale and payments provider for the cannabis industry, today announced that management will participate in a fireside chat at the 35th Annual Roth Conference on Monday, March 13, 2023 at 5:00 pm ET / 2:00 pm PT.

Key Points: 
  • POSaBIT Systems Corporation (CSE: PBIT, OTC: POSAF), the premier point-of-sale and payments provider for the cannabis industry, today announced that management will participate in a fireside chat at the 35th Annual Roth Conference on Monday, March 13, 2023 at 5:00 pm ET / 2:00 pm PT.
  • Investors can view the webcast at the following link: https://wsw.com/webcast/roth46/posaf/1982415 .
  • Management will be available for one-on-one meetings at the conference.
  • Interested investors should contact their conference representative to schedule a one-on-one meeting or [email protected] .

Chris Baker Named Chief Strategic Officer at POSaBIT, Leading Cannabis Fintech

Retrieved on: 
Thursday, February 2, 2023
Professional Services, Payments, Cannabis, Technology, Natural Resources, Finance, Fintech, OTC, IBM Consulting, PBIT, Sale, Canadian Securities Exchange, Growth, Innovation, Plan, Multimedia, Option, CDN, CSE, Management

POSaBIT Systems Corporation (CSE: PBIT, OTC: POSAF) (“POSaBIT” or the “Company”), the premier cannabis payments and point of sale platform, is proud to name Chris Baker to the company’s newly-created Chief Strategic Officer role.

Key Points: 
  • POSaBIT Systems Corporation (CSE: PBIT, OTC: POSAF) (“POSaBIT” or the “Company”), the premier cannabis payments and point of sale platform, is proud to name Chris Baker to the company’s newly-created Chief Strategic Officer role.
  • View the full release here: https://www.businesswire.com/news/home/20230202005767/en/
    “Chris’ extensive experience leading strategic initiatives and teams is a great fit.
  • We could not be more excited to welcome him to the POSaBIT team,” said Ryan Hamlin, CEO/Co-Founder of the Company.
  • “I have no doubt Chris will provide tremendous strategic support and insight as our organization continues to expand.”
    “POSaBIT is an amazing opportunity,” commented Baker.

POSaBIT to Acquire MJ Platform, Leaf Data Systems and Ample Organics for US$4 Million Adding 350+ Merchants and More than US$2 Billion in GMV

Retrieved on: 
Friday, January 27, 2023
Professional Services, Payments, Cannabis, Technology, Natural Resources, Finance, Fintech, Indian stock exchange, PBIT, EBITDA, Acquiring bank, Letter (message), Perga, OTC, Data, CSE, Warrant, PIN, Calendar, GMV, Unit, Commitment, POS, Letter, Acquisition, Security (finance), Bank

Importantly, this transaction launches us to the top five POS providers in terms of market share and GMV.

Key Points: 
  • Importantly, this transaction launches us to the top five POS providers in terms of market share and GMV.
  • It adds valuable assets that align directly with our stated goals of adding new merchants, increasing digital payment penetration and introducing new offerings to better serve our merchants.
  • We are adding new team members and our pipeline of both organic and strategic opportunities is expanding.
  • We welcome the talented professionals that will help convert this pipeline of opportunities and build upon our category leadership.

POSaBIT Reports Third Quarter 2022 Financial Results

Retrieved on: 
Tuesday, November 29, 2022
Software, Cannabis, Professional Services, Blockchain, Tobacco, Payments, Technology, Natural Resources, Retail, Cryptocurrency, NFT, Finance, Environment, EBITDA, Trust, Cannabis, SEDAR, News, Tax, Sale, Intellectual property, PBIT, Failure, Depreciation, CSE, Consultant, Risk management

Full details of the financial and operating results are described in the Companys consolidated financial statements with accompanying notes.

Key Points: 
  • Full details of the financial and operating results are described in the Companys consolidated financial statements with accompanying notes.
  • The consolidated financial statements and additional information about POSaBIT are available on the Companys website at www.posabit.com/investor-relations or on SEDAR at www.sedar.com .
  • The financial outlook has been prepared based on a number of assumptions including the assumptions discussed under the heading Forward-Looking Statements herein.
  • POSaBIT (CSE: PBIT) is a financial technology company that delivers unique and innovative, blockchain-enabled payment processing and point-of-sale systems for cash-only businesses.

POSaBIT Partners with Last Mile Delivery Management Company Onfleet to Extend Payment Services for Cannabis Customers

Retrieved on: 
Tuesday, November 29, 2022
Software, Internet, Cannabis, Other Retail, Professional Services, Fintech, Specialty, Payments, Technology, Natural Resources, Retail, Finance, IOS, Software, API, OTC, Partnership, Onfleet, Legislation, Financial technology, Sale, Android, PBIT, Budtender, CSE, Investment, Online shopping

POSaBIT Systems Corporation (CSE: PBIT, OTC: POSAF), the premier cannabis point of sale and payments platform, today announced a partnership and product integration with Onfleet , the leading last mile delivery management software platform.

Key Points: 
  • POSaBIT Systems Corporation (CSE: PBIT, OTC: POSAF), the premier cannabis point of sale and payments platform, today announced a partnership and product integration with Onfleet , the leading last mile delivery management software platform.
  • The integration extends the POSaBIT payments and point-of-sale technologies into the Onfleet platform to streamline processes and improve efficiency for cannabis customers.
  • Though our platform already reliably serves cannabis delivery customers, integration with Onfleet helps to make our open platform the best in the market, said Ryan Hamlin, CEO/Co-Founder of POSaBIT.
  • Adding the industrys favorite delivery system makes the experience for delivery drivers, budtenders, and end customers even better.

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

Retrieved on: 
Monday, November 28, 2022
Software, Cannabis, Professional Services, Hardware, Tobacco, Fintech, Specialty, Payments, Technology, Digital Cash Management, Digital Assets, Natural Resources, Retail, Software, Sale, PBIT, CSE, OTC, Learning, Entrepreneurship, Financial technology, Online shopping

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.

Key Points: 
  • 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 POSaBITs dispensary solutions.
  • Every new state we enter is cause for celebration, and Vermont is no exception, said Ryan Hamlin, Co-Founder and CEO of POSaBIT.

POSaBIT Releases POSaBIT 2.0, Their Next-Generation Point of Sale Platform

Retrieved on: 
Tuesday, November 15, 2022
Professional Services, Payments, Cannabis, Technology, Natural Resources, Fintech, Sale, CSE, PBIT, MSO, Software, OTC, Entrepreneurship, Financial technology, Love, Budtender, UI, Online shopping

POSaBIT Systems Corporation (CSE: PBIT, OTC: POSAF), the premier cannabis point of sale and payments platform, has unveiled POSaBIT 2.0.

Key Points: 
  • POSaBIT Systems Corporation (CSE: PBIT, OTC: POSAF), the premier cannabis point of sale and payments platform, has unveiled POSaBIT 2.0.
  • Built on nearly a decade of industry experience, careful user research, and customer feedback, POSaBIT 2.0 is the most intuitive experience yet.
  • The release of POSaBIT 2.0 provides our users with an improved experience; simple as that, said Ryan Hamlin, Co-Founder and CEO of POSaBIT.
  • POSaBIT (CSE: PBIT) POSaBIT is a FinTech, working exclusively within the cannabis industry.