Cannabis social media platform MassRoots raises $1.2 million

MassRoots – a popular marijuana-focused social media platform based in Denver – has closed a¬†$1,217,000¬†private placement of common stock and warrants. The transaction follows the company’s late-May report in a financial filing that it was running low on capital and would need to raise $5 million in the next year to stay in business. Chairman Isaac Dietrich – the only MassRoots shareholder with stakes greater than 5% – participated in the offering with unidentified “accredited investors” that include “family offices and high net worth individuals,” the company said in a news release. The company ... Cannabis social media platform MassRoots raises $1.2 million is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs