WeedTV, Marijuana, Marijuana News, Strains, Products, Reviews & More

WeedTV a Marijuana Lifestyle Television Channel serving the Cannabis Community

MassRoots Closes $3.2 Million Equity Financing to Date Under Registered Offering

0

MassRoots Closes $3.2 Million Equity Financing to Date Under Registered Offering

By MarijuanaStocks.com

MassRoots, Inc. (MSRT), one of the leading technology platforms for the cannabis industry, announced that it has closed on $3.2 million in equity financing to date under its Registered Offering, declared effective on August 11, 2016.  On Friday, October 7, 2016, the Company received $1.1 million in proceeds, mostly from new investors, as well as commitments for additional funds under the terms of the offering. MassRoots’ founder and largest shareholder, Isaac Dietrich, led the round with participation from former MyPoints.com CEO, Steve Markowitz, and several family offices.

“We believe these funds are sufficient for the Company to reach cash-flow positive and to scale our commercialization efforts to a much wider audience,” stated MassRoots CEO Isaac Dietrich. “We are confident that the current political climate coupled with increasing demand in regulated cannabis markets presents a tremendous growth opportunity for MassRoots.  We’re focused on introducing new monetization channels within our mobile applications while exploring strategic partnerships to expand our platform’s capabilities.”

This equity offering has brought the Company to a solid cash position as it continues to grow its user base.  During the 2016 election cycle, 9 states with over 30% of the United States population will be voting on regulating the sale of cannabis for medicinal or recreational use.  MassRoots expects that the passage of any combination of these initiatives has the potential to significantly accelerate its user and revenue growth. This capital puts the Company in a solid position to take advantage of this expected growth.

Continue reading at MarijuanaStocks.com

Don’t forget to like WeedTV @yourweedtv
Facebook: https://www.facebook.com/yourweedtv
Twitter: https://twitter.com/yourWeedTV
Instagram: http://instagram.com/yourweedtv
Subscribe: http://www.weedtv.com/

Share.

About Author

Comments are closed.

Copyright © 2014 - 2016 WeedTV.com