KANSAS CITY, Mo., Oct. 02, 2019 (GLOBE NEWSWIRE) -- Dama Technologies Inc. ("Dama Financial") today announces a strategic partnership with Helix TCS (OTCQB: HLIX), the leading provider of critical infrastructure services to the legal cannabis industry. Dama Financial, through its bank partners, will facilitate the secure transfer of online payments and settlements within the Amercanex marketplace for wholesale cannabis.
The agreement positions Dama Financial as the exclusive payment solution on the Amercanex platform and Amercanex as the only wholesale cannabis exchange using Dama Financial's comprehensive suite of financial solutions. Dama Financial will provide access to checking, escrow and trading accounts to support seamless and secure financial transactions between marketplace users.
"At Helix TCS, we have always focused on providing fully compliant, transparent infrastructure solutions to the cannabis industry," said Helix TCS CEO and Executive Chairman Zachary L. Venegas. "The Dama solution will allow cannabis businesses to transact like any other business would, and I'm proud to bring this first-in-class system to the industry."
"We are thrilled to partner with HelixTCS to deliver the first true cannabis exchange to the industry. Amercanex will give these business owners the opportunity to maintain and grow their business operations online in a secure and legitimate way," said Dan Henry, CEO of Dama Financial.
About Dama Financial
Dama Financial, through its bank partners, provides access to transparent, sustainable banking and payment solutions to legitimize the rapidly growing cannabis industry. Using innovative technology, data and artificial intelligence, Dama Financial exceeds the compliance and regulatory requirements for servicing high-risk businesses. Dama Financial's industry experts are also enabling another unbanked category, which will be announced at a future point, to help businesses within that category achieve their potential by removing the barriers that exclude them from accessing fundamental financial solutions. For more information, visit www.DamaFinancial.com.
Dama Financial is an agent of its partnering financial institutions and licensed money transmitters. Customers' funds will be deposited into a custodial account maintained for the benefit of account holders at one or more FDIC-insured institutions. Fees, terms and conditions apply to depositing funds into and using an Account. Account Terms and Conditions and Fee Schedule are available upon registration to access the online application.
About Helix TCS, Inc.
Helix TCS, Inc. HLIX is a leading provider of critical infrastructure services, helping owners and operators of licensed cannabis businesses stay competitive and compliant while mitigating risk. Through its proprietary technology suite and security services, Helix TCS
provides comprehensive supply chain management, compliance tools and asset protection for any license type in any regulated cannabis market. Helix TCS' products reach over 2,000 customer locations in 38 states and seven countries and have processed over $18 billion in cannabis sales. For more information on Helix TCS and to sign up for investor updates, visit us at www.helixtcs.com.
Forward-Looking Statements
Except for historical information, all of the statements, expectations, and assumptions contained in this press release are forward-looking statements. Actual results might differ materially from those explicit or implicit in the forward-looking statements. Important factors that could cause actual results to differ materially include: our ability to fund our operations and pay any outstanding debt; fluctuations in our financial results; general economic risks; the volatile nature of the market for our products and services and other factors that could impact our anticipated growth; our ability to manage our growth; changes in laws and regulations regarding the cannabis industry and service providers in the cannabis industry; reliance on key personnel; our ability to compete effectively; security and other risks associated with our business; intellectual property risks; and other risk factors set forth from time to time in our SEC filings. Helix TCS
assumes no obligation and does not intend to update these forward-looking statements, except as required by law.
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