WEST PALM BEACH, FL--(Marketwired - August 21, 2014) - FastFunds Financial Corporation ("FastFunds" or the "Company") (PINKSHEETS: FFFC) and its wholly-owned subsidiaries, Cannabis Angel, Inc., and The 420 Development Corporation, are pleased to provide a corporate update as to the progress currently being made by Brawnstone Security, LLC ("Brawnstone") pertaining to their entry into the cannabis security services market in Denver, Colorado and surrounding areas. In addition, the Company announces that it has entered into a letter of intent pertaining to the acquisition of GrowLightSupply.com, an online e-commerce marketplace focused on selling indoor hydroponic equipment, lighting and accessories.
Update Pertaining to Brawnstone Security, LLC.
Brawnstone is currently making progress is transitioning their marketing strategy towards expanding their current service offering into the cannabis security market. The Company is working alongside the management and staff of Brawnstone to expedite this process by establishing a physical presence in Denver, Colorado. Members of Brawnstone's management are currently initiating the process of packaging this new business unit by organizing the development of an online presence and marketing collateral dedicated to attracting prospective dispensaries in Colorado in need of Brawnstone's security based services.
Brawnstone's management was in Colorado during the week of August 11th and applied for the required licenses in Denver, Colorado Springs and Boulder.
"We are excited to be entering a market with such high demand for advanced security services. Our ability to service these prospective customers and provide them with top-tier expertise is bar none. Over the next several weeks, our goal is to establish a presence for Brawnstone in this space and to present the market with a superior product and service offering," commented Mr. Daniel Unsworth, President of Brawnstone Security, LLC.
FastFunds is pleased with the progress that Brawnstone is making on expanding its operations and security services offering into the cannabis market. As previously announced in a press release dated July 24, 2014, FastFunds completed the closing of acquiring a 70% interest in Brawnstone Security, LLC.
Agreement Pertaining to the Acquisition of GrowLightSupply.com
The Company announced today that it has entered into a letter of intent pertaining to the acquisition of GrowLightSupply.com ("GLS"), an online e-commerce marketplace dedicated exclusively to selling indoor hydroponic equipment, lighting and accessories. GLS is headquartered in Florida and has been operating since 2009. According to the unaudited financial information furnished by GLS to the Company, it is a revenue producing operation with sizable margins on over 1,100 products that it sells on its website. The Company is moving forward on closing this acquisition within 45 days of this announcement. Additional information will be provided pertaining to this development in the coming weeks.
About FastFunds Financial Corporation
FastFunds Financial Corporation is a holding company that is publicly traded on the Pink Sheets exchange, under the symbol "FFFC." The Company currently operates in the financial services industry segment with a single credit card services portfolio. The Company is currently seeking new business opportunities to diversify and complement its current services and products, to enhance its technical capabilities and to offer growth opportunities to its stockholders. The Company recently announced the formation of Cannabis Angel, Inc., a company involved in providing financing alternatives, corporate finance and general management consulting services to early-stage cannabis companies and related ventures. Most recently, the Company developed and launched GreenEnergyMedia.TV. This new website acts as an interactive social media hub that caters exclusively to providing the medical and recreational marijuana communities with access to several hundred news and social media feeds in real-time.
This news release may include "forward-looking statements" regarding FastFunds Financial Corporation, and its subsidiaries, business and project plans. Such forward-looking statements are within the meaning of Section 27A of the Securities Act of 1933, as amended, and section 21E of the United States Securities and Exchange Act of 1934, as amended, and are intended to be covered by the safe harbor created by such sections. Where FastFunds Financial Corporation expresses or implies an expectation or belief as to future events or results, such expectation or belief is believed to have a reasonable basis. However, forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. FastFunds Financial Corporation does not undertake any obligation to update any forward-looking statement, except as required under applicable law.