Thursday December 28, 2017 0 comments
DENVER -- MassRoots, Inc. (OTCQB:MSRT), one of the leading technology platforms for the regulated cannabis industry, announced a comprehensive action plan to aggressively scale its market share of cannabis consumers and businesses in the California recreational marijuana market.
On Jan. 1, the first recreational cannabis sales begin in California, which ArcView Market Research projects will grow to $6.5 billion by 2020.
Powered by more than 1 million registered users, MassRoots enables consumers to rate products and strains based on their efficacy (i.e., effectiveness for treating ailments such as back-pain or epilepsy) and then presents this information in easy-to-use formats for consumers to make educated purchasing decisions at their local dispensary.
Businesses are able to leverage MassRoots by strategically advertising to consumers based on their preferences and tendencies.
MassRoots said it has launched a comprehensive social media campaign leveraging its 450,000 followers on Instagram, 500,000 followers on Facebook, and more than 100,000 followers on Snapchat, in addition to its network of more than 75 cannabis-centric social media influencers with combined followings of more than 5,000,000 people.
The campaign is focused on driving and rewarding referrals of users and paying businesses to the MassRoots platform.
"We believe California offers the opportunity of a lifetime for MassRoots and its shareholders," said MassRoots CEO Isaac Dietrich.
"There are thousands of businesses in the process of revamping their operations to be in compliance with newly-implemented state regulations. Our goal is to have as many of these business processes utilizing the MassRoots platform as possible and establish our company as a dominant player in the California cannabis market."
MassRoots also announced that its founder, Isaac Dietrich, was appointed CEO as of Dec. 13, 2017. Additionally, the MassRoots board of directors has been reconstituted to consist of Cecil Kyte, Charles R. Blum, Nathan Shelton and Dietrich.
For more information, refer to MassRoots' Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission on Dec. 14, 2017, the company said.
Former CEO Scott Kveton resigned from MassRoots effective Dec. 13, 2017.
"I would like to thank Tripp Keber, Ean Seeb and Terry Fitch for their service and commitment to our shareholders over the past several years,” said Dietrich.
“Their knowledge and experience were instrumental in building MassRoots into a preeminent technology company in the cannabis industry.”