FastFunds Financial Corp., through wholly-owned subsidiaries Cannabis Angel, Inc. and The 420 Development Corporation, is focused on the acquisition and development of revenue-producing entities that provide ancillary services to the cannabis industry. In 2014, FastFunds entered into the financial services sector through the acquisition of 49 percent of Cannabis Merchant Financial Solutions, Inc. (CMFS). Through this subsidiary, the company has developed one of its most intriguing offerings, the Tommy Chong Green Card.
The Tommy Chong Green Card is a specially-developed reloadable stored value card with a rewards feature aimed at the burgeoning cannabis industry. Through this product, the company will gain access to both the rapidly expanding recreational marijuana market and the multi-billion dollar gift card vertical. In recent weeks, FastFunds has focused on developing a distribution network for its unique product. Earlier this month, the company took a significant step toward achieving national distribution by signing a sales representation agreement with Evergreen Licensing of Northridge, California. This deal is expected to provide FastFunds with access to approximately 300 dispensaries throughout the Golden State.
“The signing of a sales representative agreement with Evergreen is a major step in our goal for national distribution of the Tommy Chong Green Card,” Kurt Martig, president of CMFS, stated in a news release. “California is significant as it is one of the largest states in terms of dollar volume of sales and the number of operating dispensaries.”
In addition to its distribution efforts, FastFunds is currently planning a social media launch for the product ahead of next year’s presidential elections. With this strategy, the company will look to capitalize on the potential for more widespread cannabis legalization, which is currently being forecast by many industry analysts. Through its association with celebrity actor Tommy Chong, the company expects to gain access to more than 4.5 million social media followers upon its upcoming launch, helping it differentiate the Tommy Chong Green Card from similar products.
“The market for legal cannabis is one of our nation’s fastest growing industries; the momentum is nothing short of astounding,” stated Henry Fong, president and chief executive officer of FastFunds. “Our focus is to quickly and efficiently take advantage of the profound opportunities this growth provides and increase shareholder value.”
For prospective shareholders, the company’s growing presence in an incredibly high-potential industry makes it an intriguing investment opportunity moving forward. FastFunds will be looking to continue building on its recent progress with the Tommy Chong Green Card, as well as its numerous projects through its remaining subsidiaries, in order to promote strong financial growth and sustainable returns in the months to come.
For more information, visit www.fastfundsfinancial.com
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