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  • CannaOne (CNNA) to acquire a majority stake in Payright Ltd
  • This business relationship will provide CannaOne with a strategic geographic and financial partnership to service the global markets
  • Payright, headquartered in Singapore, is operating as a payment processing solutions provider for the global eCommerce market
  • CannaOne has focused on the development and deployment of its proprietary online marketplace platform
  • CannaOne (CNNA) is down 2.67 percent and is trading at C$0.73 at 3:53 pm EST

CannaOne Technologies (CNNA) has entered into a memorandum of understanding to acquire 51 per cent of Singapore-based Payright Pte Ltd.

This business relationship will provide CannaOne a strategic geographic and financial partnership to service the global markets by working with an established company headquartered in Singapore, the FINTECH capital of Asia.

Payright, headquartered in Singapore, is operating as a payment processing solutions provider for the global eCommerce market.

Payright is working in an exclusive partnership with Right Choice Payments Pte Ltd. which is a Major Payments Institution license holder in Singapore.

Payright will provide to CannaOne global payment processing solutions for merchant acquiring, and through white label partnerships with card issuing providers can further provide card issuance services.

"With Payright under the umbrella of CannaOne, it will become part of an organization with a clearly defined implementation strategy that imparts a truly global approach and aerial viewpoint to the FINTECH sector at large," stated James Kodrowski, founder of Payright regarding the transaction.

"I am personally extremely excited with the prospects that lie ahead," added Kodrowski. stated James Kodrowski

"We are pleased about the collaboration ahead with Payright and the entire Right Choice Capital business enterprise as we to continue to strive to execute on our corporate goals and objectives," Michael Penner, President & CEO of CannaOne noted.

CannaOne has focused on the development and deployment of its proprietary online marketplace platform.

CannaOne (CNNA) is down 2.67 percent and is trading at C$0.73 at 3:53 pm EST.

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