Subject: MSRT Updates on Game Changing Acquisition

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MSRT Updates on Game Changing Acquisition
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Company: MassRoots, Inc. (OTCQB: MSRT)


Price: 0.0725

Change (%): + 0.0025 (3.57)

Volume: 662,291
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MassRoots Releases Update on Planned Acquisition of COWA Science Corporation

LOS ANGELES–(BUSINESS WIRE)–MassRoots, Inc. (“MassRoots” or the “Company”) (OTCQB:MSRT), a technology platform for the regulated cannabis industry, is pleased to release the following update on its planned acquisition of COWA Science Corporation (“COWA”) in a stock-based transaction valued at approximately $5.78 million, dependent upon COWA achieving revenue milestones of $2.5 and $7.5 million (the “Planned Acquisition”). For more information on the Planned Acquisition, please see the Company’s Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission on February 12, 2019.

“As an applied physicist from Texas with a background in the oil and gas industry, I am focused on commercializing technology and metrics that we can measure: revenue and cash-flows generated from operations,” stated Chris Alameddin, Chief Executive Officer of COWA Science Corporation. “We respect the network and the numerous relationships MassRoots has built over the past five years and we believe the synergies between our two companies will result in our achievement of the revenue goals we’ve set out for the fiscal year 2020. We look forward to closing this transaction as early as this month and then working tirelessly on behalf of MassRoots’ shareholders over the next several years.”

Based on the closing price of MassRoots’ common stock of $0.07 on April 12, 2019 and after giving effect to the fifty million shares issuable to COWA’s shareholders upon closing of the Planned Acquisition, the market capitalization of the combined companies post closing would be an estimated $16.3 million.

“Numerous companies in the cannabis sector are trading at multiples of 5, 10, and even 25 times forward annual revenues,” stated Isaac Dietrich, MassRoots’ Chief Executive Officer. “As providers of the products and services that cannabis companies need to operate and grow their businesses, MassRoots and COWA are and will be able to generate revenue and gain market share in every state in which the sale of cannabis is regulated. We believe the revenue goals stated in the Planned Acquisition’s definitive agreements will be achieved during fiscal year 2020 and this transaction will be immediately accretive to MassRoots’ shareholders.”

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