ERIE, PA -- (Marketwired) -- 02/24/14 --
Fortitude Group, Inc. (OTC: FRTD) CEO Thomas J. Parilla is pleased to announce that on February 22, 2014, the Company executed a Master Agent Agreement with eViteXchange.com. Under the terms of the agreement, Fortitude will offer and facilitate closed-loop transaction processing to legal dispensaries in the medical marijuana industry as well as provide processing for entities in states that have legalized recreational marijuana sales.
Fortitude shall acquire from eViteXhange.com the URL's 420banc.com and 420cashcard.com. Both domains will be used as a pre-paid platform allowing legal marijuana merchants customers to process purchase transactions using a debit card vs. cash. The private-label card will offer additional rewards and points to the card holders which can be custom designed to fit their individual likes and needs. Fortitude expects to derive approximately $155.00 annual profit per retail card user. The Company intends to launch on March 17, 2014.
Thomas J. Parilla, CEO of Fortitude, stated, "The market for prepaid products has been growing at a tremendous rate in the U.S. over the past several years. With the recent changes to State laws regarding the purchase and sell of marijuana, we see this as an industry in its infancy. Our merchant products allow a retailer to sell product while staying compliant with State and Local tax laws. Our retail products allow for buyers to purchase cannabis while being able to use the same card at traditional merchants via the Discover card network. Our 420banc.com will be used for merchants and the 420cashcard.com will be used for retail buyers."
Fortitude Group, Inc. is a diversified company with investments in multiple sectors of the economy targeting joint ventures, wholly owned subsidiaries and/or majority/minority positions that cross various market segments with the goal of creating a quality company that builds intrinsic value for its shareholders.
Forward Looking Statements
This press release contains forward-looking statements. Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause the Company's actual results to differ materially from those projected in such statements. Forward-looking statements speak only as of the date made and are not guarantees of future performance. We undertake no obligation to publicly revise any forward-looking statements.
Fortitude Group, Inc.
Source: Fortitude Group, Inc.