Company pledges to be in full compliance with California and other state regulations; Aims to build long-term relationships with
state-licensed businesses
DENVER, April 4, 2018 — MassRoots, Inc. (“MassRoots” or the “Company”) (OTCQB:MSRT), a leading technology platform for the regulated cannabis industry, today reaffirmed its long-standing policy to list only state-licensed dispensaries on its platform. Recently, California’s Bureau of Cannabis Control has requested that online services cease listing unlicensed dispensaries operating in violation of state cannabis regulations. Several prominent online dispensary finder services have chosen to ignore this guidance from state regulators and continue to list unlicensed dispensaries.
“We believe that operating in full compliance with state cannabis regulations is crucial to creating long-term, sustainable shareholder value and building confidence with consumers as well as local, state and federal regulatory organizations,” stated MassRoots Chief Executive Officer, Mr. Isaac Dietrich. “Other services that continue to drive traffic to unlicensed dispensaries are punishing businesses that have invested significant time and resources to gain compliance with state regulations. We view this as an opportunity to build long-term relationships with compliant dispensaries that we believe are the future of the cannabis industry.”
In the coming weeks, MassRoots is expected to introduce its revamped business portal and dispensary finder. Only dispensaries that compensate MassRoots a minimum of $199 per location per month will be listed on the dispensary map and have access to its comprehensive business portal. ArcView Market Research estimates there are roughly 1,700 dispensary locations in the United States currently, growing to around 2,500 over the next 18 months.
About MassRoots
MassRoots, Inc. is one of the leading technology platforms for the regulated cannabis industry. Powered by more than one million registered users, the Company’s mobile apps empower consumers to make educated cannabis purchasing decisions through community-driven reviews. With a significant market share of medical cannabis patients in certain markets and more than 35,000 shareholders, the Company believes it is uniquely positioned to best serve the needs of the cannabis industry. For more information, please visit MassRoots.com/Investors
Contact Information
For media relations and inquiries, please contact Jessica Starman at Jessica@irthcommunications.
Forward-looking Statements
This press release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are identified by the use of the words “could,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “may,” “continue,” “predict,” “potential,” “project” and similar expressions that are intended to identify forward-looking statements. All forward-looking statements speak only as of the date of this press release. You should not place undue reliance on these forward-looking statements. Although we believe that our plans, objectives, expectations and intentions reflected in or suggested by the forward-looking statements are reasonable, we can give no assurance that these plans, objectives, expectations or intentions will be achieved. Forward-looking statements involve significant risks and uncertainties (some of which are beyond our control) and assumptions that could cause actual results to differ materially from historical experience and present expectations or projections. Actual results to differ materially from those in the forward-looking statements and the trading price for our common stock may fluctuate significantly. Forward-looking statements also are affected by the risk factors described in the Company’s filings with the U.S. Securities and Exchange Commission. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.
