Mr. Vic Neufeld reports
MASSROOTS RECEIVES US$450,000 IN PROCEEDS FROM EARLY EXERCISE OF WARRANT BY APHRIA
Aphria Inc. has exercised some warrants early at 90 U.S. cents per share for total proceeds to MassRoots Inc. of $450,000 (U.S.). Aphria initially invested $250,000 (U.S.) in MassRoots last fall and established a two-year exclusive partnership focused on the Canadian market.
"Aphria remains one of our most well-capitalized and highest-calibre partners and we are thankful for their continued support by fully exercising their warrants," stated MassRoots chief executive officer Isaac Dietrich. "As a technology platform, MassRoots is available in every state and country that regulates the production of cannabis and these warrant proceeds will greatly assist in increasing our market share of cannabis consumers and businesses."
"We're committed to continuing to build a robust portfolio of cannabis-infrastructure investments by backing innovate companies like MassRoots," stated Aphria CEO Vic Neufeld. "MassRoots has the potential to be the leading technology platform in the cannabis sector and we look forward to continuing to foster a close relationship between our companies."
About Aphria Inc.
Aphria, one of Canada's lowest cost producers, produces, supplies and sells medical cannabis. Aphria is truly powered by sunlight, allowing for the most natural growing conditions available. The company is committed to providing pharma-grade medical cannabis, superior patient care while balancing patient economics and returns to shareholders. It is the first public licensed producer to report positive cash flow from operations and the first to report positive earnings in consecutive quarters.
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