MassRoots acquires CannaRegs in $12 million stock deal
Cannabis social media platform MassRoots announced Wednesday it has acquired CannaRegs, a website dedicated to helping marijuana companies stay on top of ever-changing industry regulations.
MassRoots – which trades on over-the-counter markets under the ticker symbol MSRT – purchased CannaRegs in a stock deal valued at roughly $12 million, according to a news release.
CannaRegs is cash flow positive and has annual revenue of at least $450,000 through client contracts, according to the release.
MassRoots CEO Isaac Dietrich said the acquisition will help his company ramp up their “compliance offerings” to customers while also helping his company bolster
MassRoots acquires CannaRegs in $12 million stock deal is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs