Aphria (TSXV:APH,OTCQB:APHQF) and MassRoots announced that MassRoots will help build awareness of the Aphria brand amongst its Canadian userbase.
As quoted in the press release:
“We are thrilled to partner with Aphria to help expand their patient base while opening a new revenue stream for our business,” stated MassRoots CEO Isaac Dietrich. “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.”
“This partnership with MassRoots offers a fresh, innovative way to expand Aphria’s patient base while helping to grow our digital presence,” stated Aphria CEO Vic Neufeld. “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.”
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.