Leafbuyer Technologies, Inc. (“Leafbuyer or the “Company”) (LBUY), a premier cannabis technology company, announced today that it has acquired Greenlight Technologies, a California-based application development company. The announcement follows a letter of intent released on September 24, 2018.
The Greenlight mobile application provides cannabis consumers real-time ordering and loyalty rewards through a native progressive web application (PWA) that integrates with the local dispensary’s point of sale system. The acquisition more than doubles Leafbuyer’s client base in California.
“We look forward to expanding Greenlight’s platform in California and bringing the technology to other legal cannabis markets, including Colorado,” said Kurt Rossner, Chairman and CEO of Leafbuyer. “Both the consumer and client experience will improve with the addition of this user-friendly technology. With this integration, dispensaries may see higher customer retention rates since they can easily reward their consumers with convenient ordering options and loyalty benefits.”
The acquisition adds additional revenue streams to leverage Leafbuyer’s market penetration. Incorporating Greenlight’s order ahead mobile platform into Leafbuyer’s bundled package offers a unique, industry-leading combination. The company projects the deal will be accretive to earnings within six months.
“With Leafbuyer, we have a great opportunity to realize our vision of our Loyalty and Mobile Order Ahead products and scale them quickly,” said Marc Lopez, Greenlight Co-Founder. “Together, Greenlight and Leafbuyer will accelerate our customers’ digital solutions, enabling them to have a more rewarding, efficient, and simplified cannabis experience.”
About Leafbuyer Technologies, Inc.
Leafbuyer.com is one of the most comprehensive online sources for cannabis deals and information. Leafbuyer works alongside businesses to showcase their unique products and build a network of loyal patrons. Leafbuyer’s national network of cannabis deals and information reaches millions of consumers every month. Leafbuyer is the official cannabis deals platform of Dope Media, LA Weekly, and Voice Media Group.
About Greenlight Technologies
Greenlight is the leading loyalty rewards and order ahead software in the cannabis industry, designed to give businesses a competitive edge and to better retain their customers. Greenlight’s mission is to help businesses serve more customers, grow their revenue, and increase patient retention.
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This press release may contain forward-looking statements which are based on current expectations, forecasts, and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially from those anticipated or expected, including statements related to the amount and timing of expected revenues and any payment of dividends on our common and preferred stock, statements related to our financial performance, expected income, distributions, and future growth for upcoming quarterly and annual periods. These risks and uncertainties are further defined in filings and reports by the Company with the U.S. Securities and Exchange Commission (SEC). Actual results and the timing of certain events could differ materially from those projected in the forward-looking statements due to several factors detailed from time to time in our filings with the Securities and Exchange Commission. Reference is hereby made to cautionary statements set forth in the Company’s most recent SEC filings.
Learn more at Leafbuyer.com.