The combination of the two companies is expected to create one of the largest technology conglomerates in the cannabis market and now will also be providing regulatory compliance, point-of-sale and consumer engagement programs for the entire industry.
“This acquisition expands MassRoots’ offerings to dispensaries to include point-of-sale and regulatory compliance software, consolidating the most important operations for cannabis businesses into one central platform,” stated MassRoots CEO Mr. Isaac Dietrich. “We expect with MassRoots’ resources and relationships, we can grow the number of dispensaries utilizing Odava from dozens to hundreds by early next year. In the near future, we believe a significant percentage of all transactions occurring in the regulated cannabis industry will occur on our platform.”
Currently, Odava offers end-to-end regulatory compliance and point-of-sale software to dispensaries and cultivators in Oregon. MassRoots plans to expand Odava’s availability to the California, Nevada, Massachusetts, Colorado, Maryland and Florida cannabis markets during 2017 and 2018 through its current users and relationships. After the eight initiatives passed on November 8, 2016 are implemented, the Company estimates there will be roughly 2,800 dispensaries operating in the regulated cannabis industry and the value of combining our two business will create an ongoing revenue stream which then should increase shareholder value.
MassRoots also released an updated corporate overview deck, accessible here. For more detailed information, please see MassRoots’ Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission on July 5, 2017.
MassRoots is one of the largest technology platforms for the regulated cannabis industry. The company’s Apple iOS and Android mobile apps enable consumers to provide community-driven reviews of cannabis strains and products, enabling consumers to make educated cannabis purchasing decisions. MassRoots is proud to be affiliated with the leading businesses and organizations in the cannabis industry, including the ArcView Group and National Cannabis Industry Association. For more information, please visit MassRoots.com/Investors.
Odava is one of the leading technology platforms providing compliance, point-of-sale, and supply chain management for the cannabis industry. Its team is made of technology-industry veterans with more than 35 years of experience in building Internet-scale infrastructure, including two co-founders from Urban Airship who were instrumental in raising over $60mm in venture capital funding and building the company to where it is today. For more information, please visit www.Odava.com.
Certain matters discussed in this announcement contain statements, estimates and projections about the growth of MassRoots’ and Odava’s business, partnerships, new features, and related business strategy. Such statements, estimates and projections may constitute forward-looking statements within the meaning of the federal securities laws. Factors or events that could cause our actual results to differ may emerge from time to time. MassRoots undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The recipient of this information is cautioned not to place undue reliance on forward-looking statements.
Click here to connect with MassRoots, Inc. (OTCQB:MSRT) to receive an Investor Presentation.
Agreement propels development of safe and effective proprietary products and formulations for the emerging psychedelic industry
Optimi Health Corp. (CSE: OPTI) (“Optimi” or the “Company”), developers of a vertically integrated functional mushroom brand focused on the health and wellness sector, is pleased to announce that effective January 4, 2021, it entered into a lab services agreement with Numinus Wellness Inc. (“Numinus“). Recognized as an early leader in developing and supporting the safe, evidence-based, accessible use of psychedelic-assisted psychotherapies (PAP), Numinus is aiding Optimi’s mission to further the research and development of Canadian-grown psilocybin-producing mushrooms and related product formulations.
Nextleaf Solutions Provides a Corporate Update and Comments on Financial Results from the First Quarter
Nextleaf Solutions Ltd. (CSE: OILS) (OTCQB: OILFF) (“Nextleaf”, “OILS”, or the “Company”), the world’s most innovative cannabis processor, is pleased to provide shareholders with the following corporate update:
Nextleaf Comments on Financial Results from Q1 Financials
Hill Street Beverage Company Inc. (TSXV: BEER) (“Hill Street” or the “Company”) reported its second quarter results for the period ended December 31, 2020. A complete set of financial statements and Management’s Discussion & Analysis has been filed at www.sedar.com. All dollar figures are quoted in Canadian dollars.
The second quarter of FY21, saw continued momentum for the Company despite ongoing pandemic related challenges. Net revenue grew 8% to $745,748 from $689,276 versus the same quarter year ago. The Company also saw significant improvement on its bottom line, reducing its net loss by 50% from ($.956) million to ($.481) million, year over year for the quarter, as a result of improved gross margin and cost management efforts. On December 9, 2020, the company announced the closing of the acquisition of substantially all of the assets of Lexaria Canpharm (“Canpharm“), the cannabis products division of Lexaria Biosciences, resulting in the addition of a new B2B Line of Business.
FinCanna Capital – The Only Publicly Traded, Royalty-Focused Company for the Licensed U.S. Cannabis Industry Provides Corporate Update
Royalty Model Provides Access to Early Stage Licenced U.S. Cannabis Companies and Leverage to High-Margin Revenues
FinCanna Capital Corp. (“FinCanna” or the “Company”) (CSE:CALI), a royalty company for the licensed U.S. cannabis industry, is pleased to provide a corporate update further to its recently announced upsized financing of $2 million
Significant progress made as Numinus-sponsored PRIME study on psilocybin-assisted psychotherapy for opioid, stimulant and/or alcohol use disorders enters pre-implementation stage
Numinus Wellness Inc. (“Numinus” or the “Company”) (TSXV: NUMI), a company creating an ecosystem of health solutions centered around developing and supporting the safe, evidence-based, accessible use of psychedelic-assisted psychotherapies (PAP), and Syreon Corporation (Syreon), a global contract research organization with expertise in conducting clinical trials across a broad range of diseases, are pleased to share that significant progress has been made in the single-arm, open-label compassionate access 1 trial of Psilocybin-Research Intervention with Motivational Enhancement (PRIME) for substance use disorders. Currently in the development stage, the PRIME study will assess the efficacy and safety of psilocybin-assisted motivational enhancement therapy.