MassRoots (OTCQB: MSRT), a Denver, CO-based social network for cannabis consumers, closed a private placement of its shares of common stock for gross proceeds of $1,065,500.
The company, which has raised gross proceeds totaling $3,350,000 through the sale of its securities to date, will use the funds to generating scaleable revenue and grow to 1 million users by early 2016.
The round was led by members of the ArcView Group while Chardan Capital acted as the exclusive placement agent for this transaction.
Led by CEO Isaac Dietrich, MassRoots operates an active community of cannabis consumers with 420,000 users.
FinSMEs
15/07/2015