This was the announcement I was referring to:
Global Payout's MoneyTrac Technology, Inc. Establishes a Revenue Sharing Joint Venture Partnership with BlazeNow Inc., an Emerging Cannabis Technology Company
70 days 7 hours 53 minutes ago - DJNF
Global Payout's MoneyTrac Technology, Inc. Establishes a Revenue Sharing Joint Venture Partnership with BlazeNow Inc., an Emerging Cannabis Technology Company
SAN DIEGO, CA, Oct. 03, 2017 (GLOBE NEWSWIRE) -- Global Payout, Inc. (OTCPink: GOHE) ("Global") is pleased to announce that its majority owned subsidiary, MoneyTrac Technology, Inc. ("MTRAC", the "Company") has completed the execution of a joint venture partnership agreement (the "JV") with MediaTechnics Corporation's (OTCPink: MEDT) majority owned subsidiary, BlazeNow Inc.
The execution of the JV comes shortly after the announcement on September 13, 2017 that the companies had signed a Letter of Intent to enter into advanced discussions about the potential establishment of a JV as means of providing them the basis to work in a collaborative effort to advance each of their existing business objectives. Included in this JV is a two-year term with revenue share agreement for sales facilitated by the MoneyTrac Sales and Marketing team within the Western US region.
Referred to as the "Yelp" of the cannabis industry by NY Daily News, BlazeNow is an advertising and data collection platform that connects cannabis-related businesses with patients and customers through its iOS and Android-based applications and website. With the establishment of the JV, MTRAC will begin working with BlazeNow on the development and effective deployment of a variety of marketing strategies to help the BlazeNow brand establish a stronghold in an area of the cannabis industry that is primed to benefit from its application and technology. Additionally, the MTRAC team will also seek to fortify BlazeNow's technology through features available within its Virtu Network Solutions platform.
"The application technology developed by BlazeNow has the potential to become one of the most valuable resources to patients, consumers, and retailers in the cannabis industry," said MTRAC COO, Vanessa Luna. "We recognized this potential from the first day we were introduced to Mr. Carr (BlazeNow CEO, Jeremy Carr) and his team, and through this newly established joint venture, we are excited to put the business, networking, and technology tools we have acquired to use in helping the BlazeNow brand breakthrough and flourish within the industry," Ms. Luna further remarked.
"Completing this Joint Venture with MoneyTrac is a huge step forward for BlazeNow," said Jeremy Carr. "This gives us an opportunity to gain access to valuable resources that can be leveraged in a manner to help establish a significant presence in our industry. I look forward to launching this collaborative effort over the next several days which will be focused on the development of core strategies that will effectively establish our brand as a premier application technology within the cannabis industry," Mr. Carr commented further.
