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LOS ANGELES, Oct. 22, 2018 — MassRoots, Inc. (“MassRoots” or the “Company”) (MSRT), one of the leading technology platforms for the regulated cannabis industry, is pleased to announce that recent polling shows broad support for legalization in several key states expected to vote on cannabis regulation on November 6, 2018: Utah, Missouri, North Dakota and Michigan. An April 2018 report from New Frontier Data projects the U.S. regulated cannabis industry will grow from $8.3 billion in 2017 to $25 billion by 2025.
“Elections have the ability to create new markets, reshape economies and change the course of history,” stated MassRoots CEO Isaac Dietrich. “We believe if four additional states vote to create regulated cannabis markets in the 2018 elections, it could result in additional subscriber and revenue growth for MassRoots.”
Recent polling indicates strong support for cannabis initiatives in four states:
- Michigan – Proposal 2 to create a regulated adult-use cannabis market – 55% support, 41% oppose, 3% undecided (Detroit Free Press Poll in September 2018).
- North Dakota – Measure 3 to create a regulated adult-use cannabis market – 51% support, 36% oppose, 13% undecided (Grand Forks Herald Poll in October 2018).
- Missouri – Proposition 3 to create a regulated medical cannabis market – 54% support, 35% oppose, 11% undecided (Real Clear Politics Poll in August 2018)
- Utah – Proposal 2 to create a regulated medical cannabis market – 51% support, 46% oppose, 3% undecided (Salt Lake Tribune-Hinkley Poll in October 2018).
MassRoots’ business model is designed to benefit from the trend of states creating and expanding regulated cannabis markets. When a state passes a medical or recreational cannabis law, MassRoots can register users and businesses in that state with minimal marginal cost. Because it is not involved in the production or sale of cannabis, MassRoots does not have to build grow operations, open retail stores, or have a physical presence in the state in order to generate revenue. At the same time, MassRoots’ financial model is not tied to the success of a particular location or brand – the Company believes it can have a significant percentage of all dispensaries and brands on our platform, making MassRoots a play on the industry as a whole.
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