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MassRoots Closes Acquisition of Odava, a Leading Compliance Technology PlatformDENVER, July 14, 2017 /PRNewswire/ -- MassRoots, Inc. (OTCQB:MSRT) is pleased to announce it has closed the acquisition of Odava, Inc., a leading compliance and point-of-sale system for the cannabis industry, for cash and common stock consideration, as fully detailed in our Current Report on Form 8-K filing, dated July 14, 2017. MassRoots now offers dispensaries a complete suite of software to manage their regulatory compliance, streamline their supply chain, and develop successful consumer loyalty programs. MassRoots is pleased to release the following video testimonial from Pure Green dispensary from Portland, Oregon, a client of Odava's retail point-of-sale and compliance software, accessible here. "There's a significant opportunity in taking our experience in the Colorado and Oregon markets and leveraging it in California, Nevada, and other states," stated Odava Co-Founder Scott Kveton. "MassRoots came to the table with thousands of dispensary relationships, an app synonymous with marijuana, and one of the largest shareholder bases in the industry. Together, we have the technology and resources necessary to aggressively grow market share in California and other strategic markets." "The Odava acquisition diversifies our revenue streams while also enabling the platform integrations necessary to effectively monetize MassRoots' audience," stated MassRoots Chief Executive Officer Isaac Dietrich. "Odava's founders, Scott Kveton and Stevn Osborn, have built technology companies valued at hundreds of millions of dollars and have already made a significant impact on our business strategy." Odava's main integration to state regulators is through Franwell, Inc.'s METRC system which, just a few days ago, was awarded the contract for California's cannabis regulatory system. MassRoots expects this will enable Odava to enter the California market with minimal infrastructure changes. With more than 1,000 dispensaries expected to be subject to California state regulations for the first time, this presents a unique growth opportunity for MassRoots to on-board these dispensaries to the Odava system as well as its other offerings. For more information, please refer to MassRoots' recent shareholder update, corporate overview deck, and filings with the U.S. Securities and Exchange Commission. About MassRoots Forward-looking Statements
View original content with multimedia:http://www.prnewswire.com/news-releases/massroots-closes-acquisition-of-odava-a-leading-compliance-technology-platform-300488528.html SOURCE MassRoots, Inc. |