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MassRoots Completes Acquisition Of Empire Services

MassRoots, Inc. (MSRT), an operator of metal recycling facilities in Virginia and North Carolina, said on Friday it has closed the acquisition of Empire Services, Inc. As a result, the firm now operates 10 metal recycling sites across Virginia and North Carolina.

In the upcoming weeks, the company said it plans to apply to uplist to the Nasdaq Capital Market or the NYSE American Market, which it believes will result in a significant increase in visibility, liquidity, and institutional interest for its stock.

In May 2021, MassRoots amended its Series X and Series Y Preferred Shares to prohibit conversions until November 30, 2022 and has significantly improved its capitalization structure.

Additionally, the company has entered into a settlement deal with Iroquois Master Fund, Ltd. which is expected to result in the dismissal of the litigation and arbitration between the two parties, MassRoots said in a statement.

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