Global Payout, Inc. (OTC: GOHE) is pleased to announce that its majority owned subsidiary, MoneyTrac Technology, Inc., has executed a Letter of Intent with BlazeNow, Inc., a majority owned subsidiary of MediaTechnics Corporation (OTC: MEDT). As an advertising and data collection platform, BlazeNow connects cannabis-related businesses with patients and customers, and was called the "Yelp" of the cannabis industry by NY Daily News.
The LOI enables MTRAC and BlazeNow to enter into advanced discussions relating to a potential joint venture to execute each of their respective business development objectives and go-to-market strategies in the multi-billion dollar cannabis industry. Additionally, the companies will diligently explore the potential of leveraging the various financial technology resources available within MTRAC's Virtu Network Solutions Platform to enhance the existing BlazeNow mobile app and web platform.
"We are excited to lay the groundwork for what we believe will be a very productive business partnership with BlazeNow. The goals are to leverage this partnership in pursuing joint revenue products and services," says MTRAC COO Vanessa Luna. "Through this LOI, we hope to establish a joint-venture partnership with BlazeNow so that we can pool each of the industry-specific resources we have available to help significantly grow both brands."
BlazeNow recently completed new application launches on both Android and IOS, strongly positioning the brand for collaborative efforts with MTRAC as it looks to achieve broader expansion initiatives.
"The wealth of knowledge from both a business and technology perspective that Ms. Luna and the MoneyTrac team has is truly impressive," said BlazeNow CEO Jeremy Carr. "Both of our companies are in-tune with the multiple opportunities materializing within the cannabis industry, and we understand that a critical part of being able to seize as many of them as possible entails the establishment of strategic partnerships such as the one we are eager to develop with MoneyTrac. We have spent a good amount of time fine-tuning our software and application, and look forward toward self-producing revenue and marketing our flagship products."
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