MassRoots Receives US$450,000 in Proceeds From Early Exercise of Warrant by Aphria
March 30, 2017
Denver, Colorado – March 30, 2017 – Aphria Inc. (“Aphria” or the “Company”) (TSX: APH or USOTCQB: APHQF) one of the leading Canadian licensed producers of medical cannabis, and MassRoots, Inc. (OTCQB: MSRT), one of the largest technology platforms for the cannabis industry, are pleased to announce the early exercise of warrants by Aphria at US$0.90 per share for total proceeds to MassRoots of US$450,000. Aphria initially invested US$250,000 in MassRoots last fall and established a two-year exclusive partnership focused on the Canadian market.
“Aphria remains one of our most well-capitalized and highest-caliber partners and we are thankful for their continued support by fully exercising their warrants,” stated MassRoots CEO Isaac Dietrich. “As a technology platform, MassRoots is available in every state and country that regulates the production of cannabis and these warrant proceeds will greatly assist in increasing our market share of cannabis consumers and businesses.”
“We’re committed to continuing to build a robust portfolio of cannabis-infrastructure investments by backing innovate companies like MassRoots ,” stated Aphria CEO Vic Neufeld. “MassRoots has the potential to be the leading technology platform in the cannabis sector and we look forward to continuing to foster a close relationship between our companies.”
MassRoots is one of the largest technology platforms for the regulated cannabis industry. The Company’s mobile apps enable consumers to make educated cannabis purchasing decisions through community-driven reviews. MassRoots is proud to be affiliated with the leading businesses and organizations in the cannabis industry, including the ArcView Group and National Cannabis Industry Association. For more information, please visit MassRoots.com/Investors.
Aphria Inc., one of Canada’s lowest cost producers, produces, supplies and sells medical cannabis. Located in Leamington, Ontario, the greenhouse capital of Canada. Aphria is truly powered by sunlight, allowing for the most natural growing conditions available. We are committed to providing pharma-grade medical cannabis, superior patient care while balancing patient economics and returns to shareholders. We are the first public licenced producer to report positive cash flow from operations and the first to report positive earnings in consecutive quarters. For more information, visit www.Aphria.com
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