Aphria and MassRoots Partner in One of First International Collaborations between Cannabis Companies
LEAMINGTON, Ontario, Oct. 18, 2016 /PRNewswire/ — Aphria Inc. (“Aphria” or the “Company”) (TSXV: APH) (OTCQB: APHQF) one of the leading Canadian licensed producers of medical cannabis, and MassRoots, Inc. (OTC: MSRT), one of the largest technology platforms for the cannabis industry, are pleased to announce they have entered into one of the first international partnerships between cannabis companies. Under the terms of the agreement, MassRoots will help build awareness of the Aphria brand amongst its Canadian userbase. Aphria will compensate MassRoots a cash fee (in U.S. dollars) it refers.
We are thrilled to partner with Aphria to help expand their patient base while opening a new revenue stream for our business. As a technology platform, MassRoots is available in every state and country that regulates the production of cannabis and we could not be more excited to have a partner of Aphria’s caliber in the Canadian market.
MassRoots CEO Isaac Dietrich
This partnership with MassRoots offers a fresh, innovative way to expand Aphria’s patient base while helping to grow our digital presence. MassRoots has the potential to be the leading technology platform in the cannabis sector and we look forward to leveraging their distribution channels and data to optimize our operations.
Aphria CEO Vic Neufeld
On Monday, October 17, 2016, Aphria, Inc. invested $250,000 USD in MassRoots by purchasing 500,000 shares of MassRoots common stock, along with receiving warrants to purchase an additional 500,000 shares at $0.90 per share, valid until October 17, 2019 under MassRoots’ Registered Offering declared effective by the United States Securities and Exchange Commission on August 11, 2016. The partnership with MassRoots and the related equity investment remain subject to regulatory approvals, including the approval of the TSX Venture Exchange.
MassRoots is one of the largest and most active technology platforms for cannabis consumers, businesses and activists with over 900,000 registered users. It is proud to be affiliated with the leading organizations in the cannabis industry, including the ArcView Group and National Cannabis Industry Association. MassRoots has been covered by Fox Business, CNBC, Fortune, Denver Post, and The Financial Times. 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
Before this cannabis stock news is here, it's published to subscribers on 420 Investor.