DENVER--(BUSINESS WIRE)--MassRoots, Inc. (“MassRoots” or the “Company”) (OTCPink:MSRT), a technology and media company focused on the regulated cannabis industry, issued the following update on its planned asset purchase of the Herbfluence platform. The Company entered into a Letter of Intent to purchase Herbfluence’s technology platform on December 29, 2020. Terms of the closing are subject to standard due diligence and approval of the Definitive Agreement by the parties; for more information, please see MassRoots' Corporate Overview Deck.
The asset purchase from Herbfluence is expected to enable businesses to easily identify the most effective influencers for their marketing campaigns, schedule influencer posts, and evaluate the results of their marketing spend. The Herbfluence platform works with over 120 social media influencers with a combined following of more than 27 million people.
“With WeedMaps having announced its plans to go public in a SPAC transaction valued at $1.5 billion and the Biden Administration widely expected to reform federal cannabis policy, we believe now is the perfect time for this asset purchase and will position MassRoots to benefit from the increased interest in the cannabis space,” stated Isaac Dietrich, Chief Executive Officer of MassRoots. “Through the purchase of these Herbfluence assets, we believe our platform will make it easy for any business to schedule a top-tier influencer marketing campaign aimed at the tens of millions of cannabis consumers in the United States. Whether you are a multi-state operator of dispensaries, a licensed producer looking to build a brand amongst U.S. cannabis consumers, or one of the thousands of ancillary product companies, we believe our influencer platform will offer an innovate and cost-effective marketing channel.”
For more information, please see MassRoots’ Current Report on Form 8-K filed on December 29, 2020.
About MassRoots
MassRoots, Inc. (OTCPink:MSRT) is a leading media company focused on the regulated cannabis industry, with a significant following and traffic across its online and social media platforms. MassRoots has been covered by CNBC, CNN, Financial Times, Wall Street Journal, New York Times, Reuters, Associated Press, and Forbes. For more information on MassRoots, please visit MassRootsInvestors.com.
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