DENVER--(BUSINESS WIRE)--Leafbuyer Technologies, Inc. (OTCMKTS: LBUY) (“Leafbuyer” or “the Company”) a leading cannabis technology and marketing platform, announced today that the Company began expansion into the Michigan medical and developing recreational cannabis market.
“The growth potential in Michigan is significant and will help boost our national footprint in the industry,” said Kurt Rossner, CEO of Leafbuyer. “Similar to other initiatives in Oklahoma, where we signed on more than 60 dispensaries in three months, we have set aggressive goals to make a significant impact in the Midwest.”
Michigan has issued more than 100 medical cannabis dispensary licenses throughout the state since medical legalization in 2008. The state is expected to start accepting business applications for the recreational sale of cannabis by late 2019, and adult-use stores are projected to open in early 2020.
“With the addition of legal recreational operations, we are expecting market opportunity to more than double,” said Mark Breen, COO of Leafbuyer. “These opportunities open the door for businesses to take advantage of Leafbuyer’s offerings and services, like Leafbuyer Loyalty and texting.”
With the recent legalization of recreational cannabis in Michigan and Illinois, Leafbuyer has identified Ann Arbor, Michigan, as a potential city to open a Midwest office location to house sales and customer service representatives to serve the region.
In early July, the Company began implementation of its strategic plan for the Michigan market with digital and direct mail campaigns. These initiatives will be followed with regular, in-person visits to local dispensaries and participation in industry events in the coming months. Several digital partners and traditional marketing channels have been identified with implementation expected in early 2020 when legal, licensed recreational dispensaries open their doors.
About Leafbuyer
Leafbuyer Technologies is a multi-platform cannabis technology company connecting consumers with dispensaries and product companies through online, loyalty, print, and in-person initiatives. Leafbuyer.com, known as the “Priceline of Pot”, promotes its clients’ deals and information through its cannabis media network, which reaches millions of consumers every month. Leafbuyer is the official cannabis deals platform of Voice Media Group, Dope Media, and Grasscity.
Learn more at Leafbuyer.com.
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This press release may contain forward-looking statements which are based on current expectations, forecasts, and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially from those anticipated or expected, including statements related to the amount and timing of expected revenues and any payment of dividends on our common and preferred stock, statements related to our financial performance, expected income, distributions, and future growth for upcoming quarterly and annual periods. These risks and uncertainties are further defined in filings and reports by the Company with the U.S. Securities and Exchange Commission (SEC). Actual results and the timing of certain events could differ materially from those projected in the forward-looking statements due to several factors detailed from time to time in our filings with the Securities and Exchange Commission. Reference is hereby made to cautionary statements set forth in the Company's most recent SEC filings.
