Geopulse Exploration Announces "DOKT," Dollar-backed Stablecoin, as Basis of Cannco Financial Ecosystem for Cannabis Companies

12/11/2019, 2:29 PM (Source: GlobeNewswire)
  • Now approved to accept cash deposits represented by DOKT tokens
  • Coin serves as means of exchange for cannabis products and services between industry suppliers and purchasers
  • Partnering custodial trust has created the process to issue, transfer and manage tokens that underpin Cannco financial ecosystem
  • Separate Canncoin security token allocated to recent investors will be issued upon registration of security token with SEC
  • Token allocation notifications have been delivered to participants in 2018 crowd funded offering

Los Angeles, CA, Dec. 11, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Geopulse Exploration, Inc. (dba Cannco Brands and Development) (OTCMKTS: GPLS), a blockchain-powered logistics, financial services and promotion solutions development company for the under-serviced cannabis sector, today announced completion of approvals and establishment of a dollar-backed stablecoin, which will form the basis of the Cannco merchant services and financial platform.

As previously disclosed, the Company has entered into an agreement with a custodial trust that has completed the infrastructure required to issue, manage, and track the cryptocurrency that will represent the merchant transactions that occur using Cannco financial services.

DOKT tokens are distinguished from Canncoin security tokens that will be registered with the SEC and issued to Cannco investors from prior and current offerings representing proportional ownership in the company and entitlement to economic participation in Cannco profit. All investors have received notification of their specific Canncoin allocation.

When a Cannco participating merchant conducts a transaction on the platform, tokens will be minted and placed into the account by the custodial trust and will serve as a dollar-backed, digital representation of cash in the depositor’s account.  The cash may be retrieved through “cashing out” via a wire to the account holder from the trustee or may be used for additional purchases of products or services from other platform users.

“We’ve been working closely with our custodial trust partners developing the framework of the process and cryptocurrency core of the platform,” commented Marcus Laun, Geopulse Exploration CEO. “Achievement of the ability to accept deposits and process transactions is a milestone that allows us to accelerate development of the merchant services which will extend from the platform.”

The Company plans on launching a beta version of its merchant processing service, and on accepting its first cash within the first quarter of 2020.

About Geopulse, DBA Cannco Brands

Geopulse Exploration, Inc. (OTC PINK: GPLS) develops a blockchain-powered logistics, financial services and promotion platform for the unbanked, early-stage and explosive growth U.S. and Canadian cannabis sector. Among its assets (or pending acquisitions) are THCFinder.com, a 300,000-user geo-finder app for cannabis dispensaries and MMJ medical offices throughout the U.S., and CannCoin, a native token underlying a distributed ledger logistics and financial services ecosystem for cannabis. Cannco Brands intends to provide commercial services such as transparent supply chain management, business banking and merchant processing, trade finance, direct-to-consumer engagement solutions.

Safe Harbor Notice

Certain statements contained herein are "forward-looking statements" (as defined in the Private Securities Litigation Reform Act of 1995). Geopulse Exploration, Inc. cautions that statements made in this news release constitute forward-looking statements and makes no guarantee of future performance. Forward-looking statements are based on estimates and opinions of management at the time statements are made. These statements may address issues that involve significant risks, uncertainties, estimates, and assumptions made by management. Actual results could differ materially from current projections or implied results. Geopulse Exploration, Inc. undertakes no obligation to revise these statements following the date of this news release. 

Contact:

Marcus Laun
CEO

(323) 300-4550

145 S. Fairfax Av #200

Los Angeles, CA 90036

marcus@canncoin.io

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