LOS ANGELES, CA -- (Marketwire) -- 03/20/13 -- MediSwipe Inc. (www.MediSwipe.com) (OTCQB: MWIP), a patient security solutions and financial products company for the medicinal marijuana and health care industry, today commented on new bills and legislation to legalize medical cannabis dispensaries in Oregon and Nevada -- two states that have had MMJ laws on the books for years but do not technically allow storefront centers.
The measures would help stabilize the situation in Oregon, where hundreds of dispensaries have cropped up anyway, and create a brand new market in Nevada that could generate millions of dollars for the industry. (Both states also are considering measures to legalize marijuana for recreational use.)
Some details on the dispensary bills and more information on each market are included below:
Oregon: Last week, lawmakers in Oregon submitted legislation that would set up a comprehensive distribution system for medical marijuana, allowing registered dispensaries to sell cannabis to qualified patients. The dispensaries would have to meet certain requirements -- including those tied to security and testing -- and obtain permits from the state. Essentially, patients could authorize their grower/caregiver to "transfer" marijuana to a dispensary, which could then "transfer" it to patients or other caregivers. The growers and dispensaries could receive compensation in return. The new bill is entitled House Bill 3460.
Nevada: A state senator has introduced a measure -- Senate Bill 374 -- that would allow nonprofit dispensaries to set up shop and sell cannabis to registered patients. The dispensaries would have to meet certain requirements set by the state and pay application and permit fees. The maximum fees would be:
•$5,000 for issuance of dispensary registration certificate•$1,000 for certificate renewal•$2,500 for change of address•$500 for dispensary agent registration card•$500 for renewal of agent registration card
The bill would set a limit on the number of dispensaries that could open. According the measure, Nevada "shall not issue dispensary registration certificates in such a quantity as to cause the existence of more than one nonprofit medical marijuana dispensary for every 10 pharmacies that have been licensed... and are operating within this state." Officials could make an exception to ensure that each county has at least one dispensary.
Massachusetts: The state is actually moving forward with medical marijuana regulations at a surprisingly rapid pace. Last week, the state's health department released its near-term regulatory timeline, setting March 29 as the target date for the release of its proposed rules covering the MMJ industry. A public hearing will be held April 19, and final regulations could go into effect as early as May 24. Those are three very important dates for medical marijuana entrepreneurs in the state, and the overall timeline indicates that officials are committed to the process.
"We are quite enthused to see the new positive trend toward both medicinal use and legalization in additional states. We have met with key lobbyists and state representatives within the state of Michigan who are quite receptive toward MediSwipe and our application as a statewide solution for both patients and caregivers. Our first patient center is located at 5277 Jackson Road Suite D, Ann Arbor, MI 48103.New patients may call the number below for MediSwipe to file the necessary intake forms for initial consultations," stated B. Michael Friedman, CEO of MediSwipe Inc.
About MediSwipe Inc.
MediSwipe Inc. (www.MediSwipe.com) provides innovative patient solutions for electronically processing transactions within the healthcare industry. MediSwipe provides terminal-based service packages and an integrated Web Portal add-ons for physicians, clinics, hospitals and medical dispensaries that include: digital patient records, Electronic Referrals, Credit/Debit Card merchant services, Check Guarantee and Accounts Receivable Financing.
This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of MediSwipe Inc. to be materially different from the statements made herein.
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