Shares of MassRoots (OTCQB: MSRT) dipped 9% after the company this morning said it has closed the previously announced acquisition of Odava, Inc. in exchange for cash and common stock consideration. Following the acquisition, the company is now able to offer dispensaries a complete suite of software to manage their regulatory compliance, restructure their supply chain, and develop consumer loyalty programs. “The Odava acquisition diversifies our revenue streams while also enabling the platform integrations necessary to effectively monetize MassRoots’ audience,” MassRoots chief executive officer Isaac Dietrich stated in the news release.
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About MassRoots
MassRoots, Inc. is a provider of 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. It’s compliance and point-of-sale system, Odava, enables cannabis-related businesses to streamline their retail operations and compliance reporting to state regulators. With a significant market share of medical cannabis patients in certain markets, more than 25,000 shareholders, equity financings and warrant exercises of more than $17 million since inception, the company believes it is uniquely positioned to best serve the unique needs of the cannabis industry. For more information, please visit www.MassRoots.com/Investors.
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