DENVER, March 30, 2017 /PRNewswire/ -- Aphria Inc. ("Aphria" or the "Company") (TSX: APH or USOTCQB: APHQF) one of the leading Canadian licensed producers of medical cannabis, and MassRoots, Inc. (OTCQB: MSRT), one of the largest technology platforms for the cannabis industry, are pleased to announce the early exercise of warrants by Aphria at US$0.90 per share for total proceeds to MassRoots of US$450,000. Aphria initially invested US$250,000 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-caliber partners and we are thankful for their continued support by fully exercising their warrants," stated MassRoots CEO 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."
MassRoots is one of the largest technology platforms for the regulated cannabis industry. The Company's mobile apps enable consumers to make educated cannabis purchasing decisions through community-driven reviews. MassRoots is proud to be affiliated with the leading businesses and organizations in the cannabis industry, including the ArcView Group and National Cannabis Industry Association. For more information, please visit MassRoots.com/Investors.
Aphria Inc., one of Canada's lowest cost producers, produces, supplies and sellers of medical cannabis. Located in Leamington, Ontario, the greenhouse capital of Canada. Aphria is truly powered by sunlight, allowing for the most natural growing conditions available. We are committed to providing pharma-grade medical cannabis, superior patient care while balancing patient economics and returns to shareholders. We are the first publicly licensed producer to report positive cash flow from operations and the first to report positive earnings in consecutive quarters. For more information, visit www.Aphria.com
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: Certain information in this news release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "expect", "believe", "intend" or the negative of these terms and similar expressions. Forward-looking statements in this news release include, but are not limited to, the growth of MassRoots' business, the growth of Aphria's business, potential partnerships, new features, related business strategies, statements with respect to internal expectations, estimated margins, expectations for future growing capacity, the expected growth of production facilities in North America, any commentary related to the legalization of marijuana and the timing related thereto, and expectations with respect to future production costs. Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse industry events; marketing costs; loss of markets; future legislative and regulatory developments involving medical marijuana; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the medical marijuana industry in Canada generally, income tax and regulatory matters; the ability of Aphria or MassRoots to implement its business strategies; competition; crop failure; currency and interest rate fluctuations and other risks.
Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.