TAMPA, Fla.--(BUSINESS WIRE)--In a major new milestone for the fast-growing cannabis industry, the world’s first financial institution established specifically to serve cannabis businesses has been approved in Colorado. That’s a huge breakthrough for companies such as Neutra Corp. (OTCBB: NTRR) that are working to serve high demand for new technology innovations in the billion-dollar U.S. cannabis market.
Due to strict federal regulations, large banking institutions have shied away from doing business with cannabis-related companies. Dispensaries and other MMJ businesses have for years been forced to deal largely in cash because banks feared legal risks associated with serving them. The creation of this new institution could change that. Last week, the Colorado Division of Financial Services issued a charter to The Fourth Corner Credit Union, which could begin doing business and serving the local cannabis economy there as soon as January.
“There is no question that the non-participation of banks has severely hampered the cannabis industry’s already astonishing growth,” said NTRR CEO Chris Brown. “This charter represents the beginning of the end to that problem. This is a legitimate industry, and the sky is the limit for its growth.”
NTRR is preparing for that growth by working to deliver innovative new products to the fast-rising MMJ marketplace. Earlier this year, NTRR acquired Diamond Anvil Designs, a cutting-edge developer of smoke-free nutraceutical delivery systems that can be adapted to deliver a variety of substances, including dry herbs, oils and waxes. The lightweight, portable vapor pen represents a major breakthrough in vaporization technology thanks to customizable power levels, multi-substance vaporization capacity and best-in-class durability.
By providing a variety of innovative nutraceutical products and services such as the vaporizer pens being produced by DA, Neutra Corp. plans to follow in the footsteps of other successful public companies including Altria Group Inc. (NYSE: MO), Vitamin Shoppe (NYSE: VSI), Nutraceutical International Corp. (NASDAQ: NUTR) and mCig, Inc. (OTCBB: MCIG).
For more information on NTRR’s initiatives, please visit www.neutracorp.com.
About Neutra Corp.
Neutra Corp. is a healthy lifestyle company that specializes in the development and marketing of natural wellness solutions, including cannabis-related products. By delivering a variety of new technologies designed to ensure safer, more reliable access to cannabis in approved markets, Neutra Corp. plans to compete GW Pharmaceuticals (OTCBB:GWPRF), Growlife Inc. (OTCBB:PHOT) and Medbox Inc. (OTCBB:MDBX) and other leaders in the fast-growing, billion-dollar U.S. cannabis industry. For investing information and performance data, please visit www.neutracorp.com.
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