NEW YORK, Nov. 9, 2018 /PRNewswire/ -- MJ Freeway, LLC
"(MJ Freeway"), a leading seed-to-sale technology provider for the
cannabis industry and developer of enterprise resource planning
platform, announced a series of updates for its MJ Platform®, a
cannabis compliance tracking platform. The updates recently went
live in the system.
"These updates include new functionality, which will simplify
and improve many of the processes our clients complete in their
operation daily," says Jessica
Billingsley, CEO & Co-Founder of MJ Freeway. "As the
leading seed-to-sale platform having tracked more than $13 billion in cannabis sales through our MJ
Platform® and Leaf Data Systems® we provide our clients with
technology specific for their market and needs. We are also working
closely with state regulators to advance the compliance standards
and at the same time meet the needs of cannabis companies."
At the heart of MJ Platform are features to deliver return on
investment for cannabis businesses in efficiency and opportunity
identification.
- Retail Fulfillment Workflow
Retail fulfillment
workflow was updated to enable high-volume retailers to adopt a
more streamlined, faster checkout process. The technology enabled
process gives cannabis retailers a new and innovative method that
streamlines retail traffic flow and reduce wait time for customers
and labor costs for retailers.
- Cultivation Tracking Efficiency
Two new cultivation
features within MJ Platform simplify, streamline, and save hours of
time for cultivators.
-
- Certain jurisdictions allow for plants to be tracked as groups
rather than requiring the tracking of individual plants. MJ
Platform now allows for tracking plants as groups. Where compliance
rules allow, this workflow will save cannabis businesses hours of
time.
- Cultivators can now create plants from existing plant inventory
including seeds, clones, and tissue culture. This feature reduces
key entry and saves time.
These features are part of MJ Platform's seed-to-sale platform
that connects cannabis businesses compliantly across the entire
supply chain. We believe MJ Platform's real-time data and
visibility, along with features that enable businesses to save time
and money, are hallmarks of next generation cannabis
technology.
As previously announced, MJ Freeway has entered into a
definitive merger agreement with MTech Acquisition Corp. (Nasdaq:
MTEC), a special purpose acquisition company ("MTech").
About MJ Freeway
Founded in 2010, MJ Freeway is a leading cannabis technology
company that creates and sells software, consulting and data
solutions for cannabis businesses and government agencies,
including cultivation management, point of sale, patient
management, inventory tracking systems, and regulatory compliance
reporting and monitoring. MJ Freeway serves domestic clients
in 29 states and the District of
Columbia, as well as international clients in Australia, Canada, Chile, Colombia, Denmark, New
Zealand, South Africa,
Spain, Switzerland and Uruguay. Its regulatory
software platform to state government regulatory agencies, Leaf
Data Systems®, and seed-to-sale tracking software platform to
commercial private businesses, MJ Platform®, have processed more
than $13 billion in medicinal and
recreational cannabis sales to date. For more information, visit
mjfreeway.com.
About MTech Acquisition Corp.
MTech Acquisition Corp. is a blank check company formed in
September 2017 for the purpose of
acquiring, through a merger, capital stock exchange, asset
acquisition, stock purchase, reorganization, recapitalization,
exchangeable share transaction or other similar business
transaction, one or more businesses or assets. MTech is led by
Chairman Steven Van Dyke and Chief
Executive Officer Scott Sozio.
Forward Looking Statements
Certain statements made in this release are "forward looking
statements" within the meaning of the "safe harbor" provisions of
the United States Private Securities Litigation Reform Act of 1995.
When used in this press release, the words "estimates,"
"projected," "expects," "anticipates," "forecasts," "plans,"
"intends," "believes," "seeks," "may," "will," "should," "future,"
"propose" and variations of these words or similar expressions (or
the negative versions of such words or expressions) are intended to
identify forward-looking statements. These forward-looking
statements are not guarantees of future performance, conditions or
results, and involve a number of known and unknown risks,
uncertainties, assumptions and other important factors, many of
which are outside MJ Freeway's control, that could cause actual
results or outcomes to differ materially from those discussed in
the forward-looking statements. Important factors, among others,
that may affect actual results or outcomes include: the inability
to obtain MTech stockholder approval of the business combination
with MJ Freeway; the inability to complete the transaction
contemplated by the merger agreement governing such business
combination because of failure of closing conditions or other
reasons; the inability to recognize the anticipated benefits of the
proposed business combination, which may be affected by, among
other things, the amount of cash available following any
redemptions by MTech stockholders; the ability of the new public
company formed for the proposed MJ Freeway-MTech business
combination ("Pubco") to meet the listing standards of The Nasdaq
Stock Market following the consummation of the transactions
contemplated by the merger agreement; costs related to the proposed
business combination; MJ Freeway's ability to manage growth; the
reaction of MJ Freeway's customers and suppliers to the business
combination; Pubco's ability to identify and integrate other future
acquisitions; rising costs adversely affecting MJ Freeway's
profitability; adverse changes to the legal environment for the
cannabis industry; and general economic and market conditions
impacting demand for MJ Freeway's products and services. See
the risk factors that have been disclosed in the registration
statement on Form S-4 that was filed with the U.S. Securities and
Exchange Commission on November 6,
2018 for additional risks associated with the business
combination. None of MTech, Pubco or MJ Freeway undertakes
any obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
except as required by law.
Media Contact:
Jon Goldberg
KCSA Strategic Communications
Tel. 212.896.1282
Email: jgoldberg@kcsa.com
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SOURCE MJ Freeway
