MassRoots announces its intention to adopt a new corporate name “Greenwave Technology Solutions, Inc.”
New company name emphasizes environmental technology
NORFOLK, Virginia, October 12, 2021– (COMMERCIAL THREAD) – MassRoots, Inc. (“MassRoots” or the “Company”) (OTCPink: MSRT) is pleased to announce its intention to change its corporate name to “Greenwave Technology Solutions, Inc.” (“Greenwave”) following the recent closing of its acquisition of Empire Services, Inc. (“Empire”). As part of the name change, Greenwave has released a new corporate logo and plans to launch a new corporate website in the coming days. Although the legal name of the company will continue to be MassRoots, Inc. until the name change process is complete, for marketing and branding purposes the company will now begin to refer to itself. and will operate under the new company name.
“This is a new start for the company and under my leadership we will relentlessly focus on growing our revenues and improving our bottom line,” said Danny Meeks, President and CEO of Greenwave. “Steel is one of the most recycled materials in the world and over the past three decades the steel industry has been able to achieve significant reductions in energy intensity and greenhouse gases through recycling.(1). We believe the name Greenwave emphasizes our focus on environmental technologies and our commitment to constant progress. “
Greenwave recently acquired its 11e metal recycling facility, located in Virginia Beach, Virginia. It’s one of only two junkyards in Virginia Beach, the state’s largest city, and is slated to open under Greenwave management on or around October 18, 2021.
In the coming weeks, Greenwave intends to apply to be listed on the NASDAQ or the NYSE, which the Company believes will result in a significant increase in visibility, liquidity and institutional interest in its stock.
According to the World Steel Association and the Canadian Sheet Steel in Construction Authority (see https://www.worldsteel.org/steel-by-topic/sustainability/materiality-assessment/recycling.html; and https://cssbi.ca/mid-rise-construction/sustainable-steel).
MassRoots, Inc., which changes its name to Greenwave Technology Solutions, Inc., through its wholly owned subsidiary Empire Services, Inc. (“Empire”), is a major operator of 10 recycling facilities of metals in Virginia and North Carolina. At these facilities, Empire collects, classifies and processes raw scrap (ferrous and non-ferrous) for recycling. Steel is one of the most recycled products in the world with the ability to be remelted and remelted multiple times while providing significant economic and environmental benefits over virgin materials.
The company has announced its intention to change its legal name from MassRoots, Inc. to Greenwave Technology Solutions, Inc. Although the legal name of the company will continue to be MassRoots, Inc. until the name change process. be completed, for marketing and branding purposes, the company began doing business under the Greenwave name.
This press release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These include, without limitation, statements regarding its name change and a listing on a premier stock exchange. rank. These statements are identified by the use of the words “could”, “believe”, “anticipate”, “intend to”, “estimate”, “expect”, “could”, “continue”, “predict”. “,” Project “and similar expressions intended to identify forward-looking statements. All forward-looking statements speak only as of the date of this press release. You should not place undue reliance on these forward-looking statements. Although we believe that our plans, objectives, expectations and intentions reflected or suggested by forward-looking statements are reasonable, we cannot guarantee that these plans, objectives, expectations or intentions will be achieved. Forward-looking statements involve significant risks and uncertainties (some of which are beyond our control) and assumptions that could cause actual results to differ materially from historical experience and current expectations or projections. Actual results may differ materially from those of forward-looking statements and the price of our common shares may fluctuate significantly. Forward-looking statements are also affected by risk factors described in our filings with the United States Securities and Exchange Commission. Except as required by law, we assume no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unforeseen events. events.
See the source version on businesswire.com: https://www.businesswire.com/news/home/20211012005328/en/