Printer Friendly

MassRoots agrees to acquire Whaxy in cash, stock deal.

BANKING AND CREDIT NEWS-December 19, 2016-MassRoots agrees to acquire Whaxy in cash, stock deal

(C)2016 M2 COMMUNICATIONS http://www.m2.com

Cannabis industry technology platform MassRoots, Inc. (OTCQB: MSRT) has agreed to acquire DDDigtal Inc. d.b.a. "Whaxy" & Cannabuild for USD100,000 cash and 2,926,830 million shares of MassRoots' common stock, the company said.

Since launching in May 2016, Whaxy's menu management and online ordering platform for licensed cannabis businesses has processed over USD5 million in volume across 40,000 unique transactions.

The acquisition is subject to customary closing conditions.

Whaxy's platform seamlessly integrates with nearly every major point-of-sale system used dispensaries and will seamlessly connect to the MassRoots network, allowing for live pricing, online ordering, and product feedback. Over the last six months, Whaxy has been used by some of a businesses in the industry, including Harborside, GreenHouse, Cresco Labs, and more.

MassRoots is one of the largest technology platforms for the regulated cannabis industry. the company's mobile apps enables 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 a businesses and organizations in the cannabis industry, including the ArcView Group and National Cannabis Industry Association.

((Comments on this story may be sent to info@m2.com))

COPYRIGHT 2016 Normans Media Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2016 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:M2 Banking & Credit News (BCN)
Date:Dec 19, 2016
Words:218
Previous Article:xG Technology reverse splits 1-for-10.
Next Article:United Group Programs receives investment from Gemspring Capital affiliate.
Topics:

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters