Leafbuyer Technologies (OTCMKTS:LBUY) announced Thursday (July 25) that the company has begun expansion into Michigan’s medical and developing recreational cannabis market.
As quoted in the press release:
“The growth potential in Michigan is significant and will help boost our national footprint in the industry,” said Kurt Rossner, CEO of Leafbuyer. “Similar to other initiatives in Oklahoma, where we signed on more than 60 dispensaries in three months, we have set aggressive goals to make a significant impact in the Midwest.”
Michigan has issued more than 100 medical cannabis dispensary licenses throughout the state since medical legalization in 2008. The state is expected to start accepting business applications for the recreational sale of cannabis by late 2019, and adult-use stores are projected to open in early 2020.
“With the addition of legal recreational operations, we are expecting market opportunity to more than double,” said Mark Breen, COO of Leafbuyer. “These opportunities open the door for businesses to take advantage of Leafbuyer’s offerings and services, like Leafbuyer Loyalty and texting.”