<SEC-DOCUMENT>0000721748-15-000884.txt : 20151214
<SEC-HEADER>0000721748-15-000884.hdr.sgml : 20151214
<ACCEPTANCE-DATETIME>20151214160202
ACCESSION NUMBER:		0000721748-15-000884
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		7
CONFORMED PERIOD OF REPORT:	20151214
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Submission of Matters to a Vote of Security Holders
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20151214
DATE AS OF CHANGE:		20151214

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MassRoots, Inc.
		CENTRAL INDEX KEY:			0001589149
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-COMPUTER PROGRAMMING, DATA PROCESSING, ETC. [7370]
		IRS NUMBER:				462612944
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-55431
		FILM NUMBER:		151286009

	BUSINESS ADDRESS:	
		STREET 1:		1624 MARKET STREET,
		STREET 2:		SUITE 201
		CITY:			DENVER
		STATE:			CO
		ZIP:			80202
		BUSINESS PHONE:		720-442-0052

	MAIL ADDRESS:	
		STREET 1:		1624 MARKET STREET,
		STREET 2:		SUITE 201
		CITY:			DENVER
		STATE:			CO
		ZIP:			80202
</SEC-HEADER>
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<TYPE>8-K
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<P STYLE="margin: 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="margin: 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="margin: 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="margin: 0; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="margin: 0; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="margin: 0; text-align: center">Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934</P>

<P STYLE="margin: 0; text-align: center">&nbsp;</P>

<P STYLE="margin: 0; text-align: center"><B>December 14, 2015 (December 9, 2015)</B></P>

<P STYLE="margin: 0; text-align: center">Date of Report (Date of earliest event reported)</P>

<P STYLE="margin: 0; text-align: center">&nbsp;</P>

<P STYLE="margin: 0; text-align: center"><B>MassRoots, Inc.</B></P>

<P STYLE="margin: 0; text-align: center">(Exact name of registrant as specified in its
charter)</P>

<P STYLE="margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 39%; border-bottom: black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Delaware</B></P></TD>
    <TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 27%; border-bottom: black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>000-55431</B></P></TD>
    <TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 32%; border-bottom: black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>46-2612944</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(State or other jurisdiction of incorporation)</P></TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Commission File Number)</P></TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(IRS Employer Identification No.)</P></TD></TR>
</TABLE>
<P STYLE="margin: 0; text-align: center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: bottom; width: 40%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: center">1624 Market
    Street, Suite 201, Denver, CO</TD>
    <TD STYLE="vertical-align: top; width: 20%; font-size: 10pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 40%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: center">80202</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 2.9pt 5.75pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Address of principal</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">executive offices)&nbsp;&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center">(Zip Code)</TD></TR>
</TABLE>
<P STYLE="margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 100%; border-bottom: Black 1pt solid; padding: 2.9pt 5.75pt; font-size: 10pt; text-align: center">(720)
    442-0052</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: center">(Registrant&#8217;s telephone number, including area code)&nbsp;&nbsp;</TD></TR>
</TABLE>
<P STYLE="margin: 0; text-align: center">&nbsp;&nbsp;</P>

<P STYLE="margin: 0; text-align: justify">Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction
A.2. below):</P>

<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 98%; font-size: 10pt">[ ]&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17
    CFR 230.425)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">[ ]&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">[ ]&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17
    CFR 240.14d-2(b))</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">[ ]&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17
    CFR 240.13e-4(c))</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="margin: 0; text-align: justify">Unless otherwise provided in this Current Report,
all references to &#8220;we,&#8221; &#8220;us,&#8221; &#8220;our,&#8221; or the &#8220;Company&#8221; refer to the Registrant,
MassRoots, Inc.</P>

<P STYLE="margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="margin: 0; text-align: justify"><B>Item 5.02</B></P>

<P STYLE="margin: 0; text-align: justify"><B>Departure of Directors or Certain Officers;
Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="margin: 0; text-align: justify">As part of the realignment of the Company&#8217;s
Board of Directors (the &#8220;Board&#8221;) and management, on December 9, 2015, Mr. Terence Fitch was appointed as a member
of the Board, in accordance with the Company&#8217;s Bylaws, to fill the vacancy left by Mr. Tyler Knight, who resigned from his
position as a Director as of that same date. Mr. Fitch&#8217;s term as a member of the Board shall expire at the Company&#8217;s
next annual election of directors and until such time as his successor is duly elected and qualified, or until the earlier of
his death, resignation or removal.</P>

<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0; text-align: justify">As part of this restructuring, Mr. Knight
also provided his resignation as the Chief Marketing Officer of the Company, effective December 9, 2015. Mr. Knight will continue
with the Company as the Company&#8217;s Senior Content Strategist, a non-executive role. Mr. Knight&#8217;s resignations were
not the result of any dispute or disagreement with the Company or the Company&#8217;s Board on any matter relating to the operations,
policies or practices of the Company.</P>

<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0; text-align: justify">Additional information for Mr. Fitch is set
forth below:</P>

<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0; text-align: justify"><I>Terence Fitch, Director</I> - Terence Fitch
has served as a Director of the Company since 2015.&nbsp; Mr. Fitch is a seasoned corporate executive with 23 years of marketing,
sales, finance, manufacturing, supply chain and media experience.&nbsp; Mr. Fitch founded Drink Teck, LLC in 2013 and has served
as its Chief Executive Officer since that time. Drink Teck LLC is a functional beverage company which uses liposome technology
to cost-effectively formulate drinks for the consumer health and wellness sector.&nbsp; Prior to founding Drink Teck LLC, Mr.
Fitch spent 3 years at Coca Cola Refreshments as Senior Vice President and General Manager.&nbsp; Before that, 18 years at, Coca-Cola
Enterprises, where, from 2004 to 2010, he served as the Senior Vice President and General Manager of the Western Region and was
responsible for a team of 13,500 sales, strategy, marketing, operations, manufacturing, supply chain and analytical professionals
and accountable for over $4.2 billion in sales. From 1998 to 2002, Mr. Fitch acted as Division Vice President and General Manager
for Coca-Cola Enterprises and, from 1994-1998, was the Regional Vice President of Sales and Marketing of the Gulf States for Coca-Cola
Enterprises.&nbsp; Mr. Fitch has a Bachelor of Science in Marketing and Finance from Arizona State University.&nbsp; Mr. Fitch
brings a strong understanding of financial reporting and corporate governance matters, along with expertise in corporate governance,
enterprise risk management and strategic planning, which we believe will strengthen the Board&#8217;s collective qualifications,
skills, and experience.</P>

<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0; text-align: justify">Commencing with Mr. Fitch&#8217;s appointment,
in exchange for his service on the Board, Mr. Fitch will receive a restricted stock award of 100,000 shares of the Company&#8217;s
common stock and options to purchase 100,000 shares of the Company&#8217;s common stock at an exercise price of $0.90 that will
expire ten years from issuance.</P>

<P STYLE="margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="margin: 0; text-align: justify">Mr. Fitch does not have any relationship with
the Company that would require disclosure pursuant to Item 404(a) of SEC Regulation S-K. Mr. Fitch does not have any direct or
indirect material interest in any existing or currently proposed transaction to which the Company is or may become a party.</P>

<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0; text-align: justify"><B>Item 5.07 </B></P>

<P STYLE="margin: 0; text-align: justify"><B>Submission of Matters to a Vote of Security
Holders</B></P>

<P STYLE="margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="margin: 0; text-align: justify">On December 9, 2015, a majority of the shareholders
the Company, representing 63.7% of the issued and outstanding shares of the Company&#8217;s common stock as of November 25, 2015,
in the form of a written consent, approved the following matters:</P>

<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

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<P STYLE="margin: 0; text-align: justify"></P>

<P STYLE="margin: 0; text-align: justify"><I><U>Election of Directors</U></I></P>

<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0; text-align: justify">The following Directors were elected to the
Company&#8217;s Board of Directors: Isaac Dietrich, Stewart Fortier, Tripp Keber, Ean Seeb, and Terence Fitch. Each Director&#8217;s
term as a member of the Board shall expire at the Company&#8217;s next annual election of directors and until such time as his
successor is duly elected and qualified, or until the earlier of his death, resignation or removal.</P>

<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0; text-align: justify"><I><U>Auditor Appointment</U></I></P>

<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0; text-align: justify">The appointment of L&amp;L CPAS, PA, formerly
Bongiovanni &amp; Associates, PA, to serve as the Company&#8217;s independent registered public accounting firm for the fiscal
year ending December 31, 2015 was approved and ratified.</P>

<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0; text-align: justify"><I><U>2015 Equity Incentive Plan</U></I></P>

<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0; text-align: justify">The Company&rsquo;s 2015 Equity Incentive
Plan (&ldquo;2015 Plan&rdquo;) was approved and ratified in its entirety by shareholders.&nbsp; The 2015 Plan will be effective
and available for use by the Company for ten (10) years, unless earlier terminated by the Board, and reserves for issuance a total
of 4,500,000 shares of the Company&rsquo;s common stock that may be awarded to employees, directors, and other eligible persons
through issuance of options or restricted stock awards.&nbsp; Awards of options and restricted stock awards may be vested or unvested,
deferred to a later date, and/or may be tied to service, performance, or other conditions as determined by our Board. All options
will have an exercise price that is in no case less than 100% of the fair market value of the common stock as of the date of the
grant.&nbsp; The purposes of the 2015 Plan shall be for recruitment and retention of its employees and directors.</P>



<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0; text-align: justify">Pursuant to rules adopted by the Securities
and Exchange Commission under the Securities Exchange Act of 1934, as amended, a Schedule 14C Information Statement (the &#8220;Information
Statement&#8221;) will be sent or given to the shareholders of the Company who did not execute the written consent approving the
above matters. The above approvals will become effective on the date that is 20 calendar days after the date the Information Statement
is first sent or given to such shareholders.</P>

<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0; text-align: justify"><B>Item 8.01</B></P>

<P STYLE="margin: 0; text-align: justify"><B>Other Events</B></P>

<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0; text-align: justify">On December 9, 2015, the Board (i) formed
an Audit Committee and appointed Terence Fitch (chairman), Ean Seeb and Tripp Keber as members of the Audit Committee; (ii) formed
a Compensation Committee and appointed Tripp Keber (chairman) and Ean Seeb as members; and (iii) formed a Nomination and Corporate
Governance Committee and appointed Ean Seeb (chairman) and Tripp Keber as members. The Audit Committee&#8217;s charter is attached
as Exhibit 99.1, the Compensation Committee&#8217;s charter is attached as Exhibit 99.2, and the Nomination and Corporate Governance
Committee&#8217;s charter is attached as Exhibit 99.3.</P>

<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0; text-align: justify">On December 9, 2015, the Company issued a
press release titled &#8220;MassRoots Forms Audit, Nomination and Compensation Committees.&#8221; A copy of the press release
is filed as Exhibit 99.4 hereto and incorporated herein by reference.</P>

<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0; text-align: justify">On December 10, 2015, the Company issued a
press release titled &#8220;Former Coca-Cola Enterprises Executive Terence Fitch Joins MassRoots&#8217; Board of Directors.&#8221;
A copy of the press release is filed as Exhibit 99.5 hereto and incorporated herein by reference.</P>

<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0; text-align: justify">Additional information is</P>

<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

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<P STYLE="margin: 0; text-align: justify"></P>

<P STYLE="margin: 0; text-align: justify"><B>Item 9.01&nbsp;</B></P>

<P STYLE="margin: 0; text-align: justify"><B>Financial Statements and Exhibits.</B></P>

<P STYLE="margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="margin: 0; text-align: justify">(d) Exhibits.</P>

<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right">99.1</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify"><A HREF="mrst1214158kex99_1.htm">MassRoots Inc. Audit Committee Charter</A></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right">99.2</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify"><A HREF="mrst1214158kex99_2.htm">MassRoots Inc. Compensation Committee Charter</A></TD>
</TR></TABLE>

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<TD STYLE="width: 15pt; text-align: right">99.3</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify"><A HREF="mrst1214158kex99_3.htm">MassRoots Inc. Nomination and Corporate Governance Committee Charter</A></TD>
</TR></TABLE>



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<TD STYLE="width: 15pt; text-align: right">99.4</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify"><A HREF="mrst1214158kex99_4.htm">Press Release dated December 9, 2015 titled &#8220;MassRoots Forms Audit, Nomination and Compensation Committees.&#8221;</A></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right">99.5</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify"><A HREF="mrst1214158kex99_5.htm">Press Release dated December 10, 2015 titled &#8220;Former Coca-Cola Enterprises Executive Terence Fitch Joins MassRoots&#8217; Board of Directors.&#8221;</A></TD>
</TR></TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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<P STYLE="margin-top: 0; margin-bottom: 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0; text-align: justify">Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>

<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">MassRoots, Inc.</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 53%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 34%">&nbsp;</TD>
    <TD STYLE="width: 11%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Date: December 14, 2015</TD>
    <TD>By: </TD>
    <TD>&nbsp;<U>/s/&nbsp;Isaac Dietrich</U></TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">Isaac Dietrich</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Chief Executive Officer</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5.4pt">&nbsp;</P>

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<P STYLE="margin: 0; font-weight: bold; text-transform: uppercase; text-align: center">MASSROOTS,
INC.</P>

<P STYLE="margin: 0; font-weight: bold; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="margin: 0; font-weight: bold; text-transform: uppercase; text-align: center">AUDIT
committee OF THE BOARD OF DIRECTORS</P>

<P STYLE="margin: 0; font-weight: bold; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="margin: 0; font-weight: bold; text-transform: uppercase; text-align: center">CHARTER</P>

<P STYLE="margin: 0; font-weight: bold; text-transform: uppercase; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0; font-weight: bold; text-transform: uppercase; text-align: justify"><FONT STYLE="font-weight: normal">I</FONT> PURPOSE</P>

<P STYLE="margin: 0; font-weight: bold; text-transform: uppercase; text-align: justify"><BR></P>



<P STYLE="margin: 0; text-align: justify">The primary function
of the Audit Committee is to assist the Board of Directors in fulfilling its oversight responsibilities by reviewing: the financial
reports and other financial information provided by the Corporation to any governmental body or the public; the Corporation's
systems of internal controls regarding finance, accounting, legal compliance and ethics that management and the Board have established;
and the Corporation's auditing, accounting and financial reporting processes generally. Consistent with this function, the Audit
Committee should encourage continuous improvement of, and should foster adherence to, the Corporation's policies, procedures and
practices at all levels. The Audit Committee's primary duties and responsibilities are to:</P>

<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right">&bull;</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Serve as an independent and objective party to monitor the Corporation's financial
reporting process and internal control systems.</TD>
</TR></TABLE>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right">&bull;</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Review and appraise the audit efforts of the Corporation's independent accountants
and internal auditing function (or the efforts of the out-sourced internal audit service provider, if applicable).</TD>
</TR></TABLE>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right">&bull;</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Provide an open avenue of communication among the independent accountants, financial
and senior management, the internal auditing function, and the Board of Directors.</TD>
</TR></TABLE>



<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0; text-align: justify">The Audit Committee
will primarily fulfill these responsibilities by carrying out the activities enumerated in Section IV of this Charter.</P>

<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0; text-align: justify"><B>II COMPOSITION<BR></B> <BR></P>



<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0; text-align: justify">The Audit Committee
shall be comprised of three or more independent directors, free from any relationship that, in the opinion of the Board, would
interfere with the exercise of his or her independent judgment as a member of the Committee. All members of the Committee shall
have a working familiarity with basic finance and accounting practices, and at least one member of the Committee shall have accounting
or related financial management expertise. Committee members may enhance their familiarity with finance and accounting by participating
in educational programs conducted by the Corporation or an outside consultant.</P>

<P STYLE="margin: 0; text-align: justify">The members of the Committee shall be elected by the Board at the annual
organizational meeting of the Board or until their successors shall be duly elected and qualified. Unless a chair is elected
by the full Board, the members of the committee may designate a Chair by majority vote of the full Committee membership.</P>

<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0; text-align: justify"><B>III MEETINGS</B></P>

<P STYLE="margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="margin: 0; text-align: justify">The committee shall meet at least four times annually, or more frequently as circumstances
dictate. As part of its job to foster open communication, the Committee should meet at least annual with management, the director
of the internal auditing function and the independent accountants in separate executive sessions to discuss any matters that the
Committee or each of these groups believe should be discussed privately. In addition, the Committee or at least its Chair should
communicate with the independent accountants and management quarterly to review the Corporation's financials consistent with IV.4
below. <B><I>A majority of the whole authorized number of members of the Committee shall be necessary to constitute a quorum for
a meeting.</I></B></P>

<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

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<P STYLE="margin: 0; text-align: justify"></P>

<P STYLE="margin: 0; text-align: justify"><B>IV RESPONSIBILITIES AND DUTIES</B></P>



<P STYLE="margin: 0; text-align: justify"><BR>
To fulfill its responsibilities and duties the Audit Committee shall:</P>

<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0; text-align: justify"><U>Documents/Reports
Review</U></P>

<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right">1.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Review and update this Charter and the Audit Department Policy periodically, at least
annually, as conditions dictate, and submit to the Board of Directors for their approval the Audit Committee Charter and Audit
Policy Document.</TD>
</TR></TABLE>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right">2.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Review the organization's annual financial statements and any reports or other financial
information submitted to any governmental body, or the public, including any certification, report, opinion, or review rendered
by the independent accountants.</TD>
</TR></TABLE>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right">3.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Review the regular internal reports prepared by the internal auditing function and
management's response.</TD>
</TR></TABLE>



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<TD STYLE="width: 15pt; text-align: right">4.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Review with financial management and the independent accountants the 10-Q prior to
its filing or prior to the release of earnings. The Chair of the Committee may represent the entire Committee for purposes of
this review.</TD>
</TR></TABLE>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right">5.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Review annually the department budget if one is deemed needed.</TD>
</TR></TABLE>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right">6.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Review annually the scope of the audit plan and risk assessment to be used for both
the internal and external audits, including out-sourcing and/or co-sourcing arrangements, as applicable.</TD>
</TR></TABLE>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right">7.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Review the Internal Auditor's salary (if any).</TD>
</TR></TABLE>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right">8.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Review periodically audit activity, including adherence to the internal audit plan
and review management's resolution of audit findings.</TD>
</TR></TABLE>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right">9.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Review with the Internal Auditor, as is appropriate, material transactions originating
from director, director-related enterprises, and officer loans.</TD>
</TR></TABLE>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right">10.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Review with management the extent and adequacy of property and liability insurance
coverage, and the security program.</TD>
</TR></TABLE>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right">11.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">On a timely basis, report to the full Board, on the effectiveness of the Bank's overall
control system and audit program and any matters relating to policy which require their attention.</TD>
</TR></TABLE>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right">12.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Review, at least annually the &quot;structure, management, staffing and audit quality
of the internal audit function.&quot; (if applicable).</TD>
</TR></TABLE>

<P STYLE="margin: 0; text-align: justify">&nbsp;</P>



<P STYLE="margin: 0; text-align: justify"><U>Independent Accountants</U></P>

<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right">13.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Recommend to the Board of Directors the selection of the independent accountants,
who are accountable to the Board and to the Audit Committee as representatives of the shareholders, considering independence and
effectiveness and approve the fees and other compensation to be paid to the independent accountants. On an annual basis, the Committee
should review and discuss with the accountants all significant relationships the accountants have with the Corporation to determine
the accountants' independence.</TD>
</TR></TABLE>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right">14.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Review the performance of the independent accountants and approve any proposed discharge
of the independent accountants when circumstances warrant.</TD>
</TR></TABLE>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right">15.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Periodically consult with the independent accountants out of the presence of management
about internal controls and the fullness and accuracy of the organization's financial statements.</TD>
</TR></TABLE>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right">16.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">This Committee will actively engage the outside auditors in a dialogue regarding independence.</TD>
</TR></TABLE>



<P STYLE="margin: 0; text-align: justify"></P>

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<P STYLE="margin: 0; text-align: justify"><U>Financial Reporting Processes</U></P>

<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right">17.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">In consultation with the independent accountants and the internal auditors, review
the integrity of the organization's financial reporting processes, both internal and external.</TD>
</TR></TABLE>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right">18.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Consider the independent accountants' judgments about the quality and appropriateness
of the Corporation's accounting principles as applied in its financial reporting.</TD>
</TR></TABLE>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right">19.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Consider and approve, if appropriate, major changes to the Corporation's auditing
and accounting principles and practices as suggested by the independent accountants, management, or the internal auditing function.</TD>
</TR></TABLE>



<P STYLE="margin: 0; text-align: justify"><BR>
<U>Process Improvement</U></P>

<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right">20.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Establish regular and separate systems of reporting to the Audit Committee by each
of management, the independent accountants and the internal auditors regarding any significant judgments made in management's
preparation of the financial statements and the view of each as to appropriateness of such judgments.</TD>
</TR></TABLE>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right">21.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Following the completion of the annual audit, review separately with each of management,
the independent accountants and the internal auditing department any significant difficulties encountered during the course of
the audit, including any restrictions on the scope of work or access to required information.</TD>
</TR></TABLE>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right">22.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Review any significant disagreement among the management and the independent accountants
or the internal auditing function in connection with the preparation of the financial statements.</TD>
</TR></TABLE>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right">23.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Review with the independent accountants, the internal auditing function and management
the extent to which changes or improvements in financial or accounting practices, as approved by the Audit Committee, have been
implemented. (This review should be conducted at an appropriate time subsequent to implementation of changes or improvements,
as decided by the Committee.)</TD>
</TR></TABLE>



<P STYLE="margin: 0; text-align: justify"><BR>
<U>Ethical and Legal Compliance</U></P>

<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right">24.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Review management's monitoring of the Corporation's compliance with the organization's
Ethical Code, and ensure that management has the proper review system in place to ensure that Corporation's financial statements,
reports and other financial information disseminated to governmental organization, and the public satisfy legal requirements.</TD>
</TR></TABLE>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right">25.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Review activities, risk based audit policy and plan, organizational structure, and
qualifications of the internal audit department.</TD>
</TR></TABLE>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right">26.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Review, with the organization's counsel, legal compliance matters including corporate
securities trading policies.</TD>
</TR></TABLE>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right">27.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Review, with the organization's counsel, any legal matter that could have a significant
impact on the organization's financial statements.</TD>
</TR></TABLE>



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<TD STYLE="width: 15pt; text-align: right">28.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Perform any other activities consistent with this Charter, the Corporation's By-laws
and governing law, as the Committee or the Board deems necessary or appropriate.</TD>
</TR></TABLE>



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<TD STYLE="width: 15pt; text-align: right">29.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">The Audit Committee shall have the power to conduct and authorize investigations into
any matters within the Committee's scope of responsibilities. The Committee shall be empowered to retain independent counsel,
accountants, or others to assist it in the conduct of any investigation.</TD>
</TR></TABLE>



<P STYLE="margin: 0; text-align: justify"></P>

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<P STYLE="margin: 0; text-align: justify"><U>Proxy Statement Report</U></P>

<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right">30.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Include a Committee report in the Corporation's proxy statement, including</TD>
</TR></TABLE>



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<TD STYLE="width: 35pt; text-align: right">a.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">whether the Committee has reviewed and discussed the Corporation's audited financial
statements with management;</TD>
</TR></TABLE>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 35pt; text-align: right">b.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">whether the Committee has discussed with the outside auditors the matters required
to be discussed by SAS 61;</TD>
</TR></TABLE>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 35pt; text-align: right">c.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">whether the Committee has received the written disclosures and letter from the Corporation's
outside auditors relating to their independence as required by Independent Standards Board Standard No. 1, and has discussed with
the outside auditors their independence; and</TD>
</TR></TABLE>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 35pt; text-align: right">d.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">whether the Committee has recommended to the Board of Directors, based upon the reviews
and discussions referenced to in (a), (b) and (c), that the Corporation's audited financial statements be included in the Corporation's
Annual Report on Form 10-K.</TD>
</TR></TABLE>



<P STYLE="margin: 0; text-align: justify"><BR>
<U>Other</U></P>

<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

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<TD STYLE="width: 15pt; text-align: right">31.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Review with management the outside auditor's proposals to provide other bank services
such as consulting.</TD>
</TR></TABLE>



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<TD STYLE="width: 15pt; text-align: right">32.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Maintain minutes and other relevant records of their meetings and decisions.</TD>
</TR></TABLE>

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<P STYLE="margin: 0; text-align: right"><B>Adopted December 9, 2015</B></P>

<P STYLE="margin: 0; text-align: right">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0; text-align: center">&nbsp;<FONT STYLE="text-transform: uppercase"><B>Charter
of the compensation Committee</B></FONT></P>

<P STYLE="margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>of
THE BOARD OF DIRECTORS OF</B></FONT></P>

<P STYLE="margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>MASSROOTS,
INC.</B></FONT></P>

<P STYLE="margin: 0; text-align: justify"><BR>
<B>Purpose</B><BR>
<BR>
The Compensation Committee (the &#8220;Committee&#8221;) of the Board of Directors (the &#8220;Board&#8221;) of<B> </B>MassRoots,
Inc<B>.</B> (the &#8220;Company&#8221;) shall assist the Board in the discharge of its responsibilities with respect to the compensation
of the directors and the executive officers of the Company.</P>

<P STYLE="margin: 0; text-align: justify"><BR>
<B>Composition of the Compensation Committee</B></P>

<P STYLE="margin: 0; text-align: justify"><BR>
The Committee shall consist of not less than two (2) directors each of whom shall be an independent director under NASDAQ Stock
Market (or any successor thereto, or the applicable rules of any other exchange or quotation system on which the Company&#8217;s
shares may be listed from time to time) (&#8220;NASDAQ&#8221;) listing standards, a &#8220;nonemployee director&#8221; within
the meaning of Rule 16b-3 issued by the U.S. Securities and Exchange Commission (&#8220;SEC&#8221;), and an &#8220;outside director&#8221;
within the meaning of Section 162(m) of the Internal Revenue Code of 1986, as amended.</P>

<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0; text-align: justify">The receipt of awards of stock or stock
options pursuant to the Company's equity incentive plans, or compensation for participation at meetings, or the reimbursement
of his or her reasonable expenses, by a director as part of his or her compensation for service on the Board and committees of
the Board shall not disqualify the director from serving as a member of the Committee.</P>

<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0; text-align: justify">If the Committee is comprised of at
least three (3) members satisfying the independence requirements, then one (1) director who is not independent under NASDAQ rules,
and is not a current officer or employee of the Company or any of its subsidiaries (or an immediate family member of such person),
may be appointed to the Committee, under exceptional and limited circumstances, as determined by the Board in accordance with
applicable NASDAQ rules.</P>

<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0; text-align: justify">The Board shall designate one member
of the Committee as its Chairman. Members of the Committee shall serve until their resignation, retirement, removal by the Board
or until their successors are appointed, or when they cease to be a director of the Company.</P>

<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0; text-align: justify"><B>Responsibilities and Duties</B></P>

<P STYLE="margin: 0; text-align: justify"><BR>
In carrying out the purpose and authorities set forth herein, the Committee shall:</P>

<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right">1.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify"><U>Executive Officers Compensation.</U>&nbsp; Review and recommend to the Board the
corporate goals and objectives relevant to the compensation of the Chairman of the Board, the Company&#8217;s Chief Executive
Officer (&#8220;CEO&#8221;), the Company&#8217;s Chief Financial Officera nd other executive officers (as determined by the Committee),
evaluate such officers&#8217; performance in light of those goals and objectives, and recommend to the Board such officers&#8217;
compensation level based on this evaluation</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right">2.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify"><U>Significant Executive Officer Contracts.</U>&nbsp; Review and recommend to the
Board employment agreements, arrangements, or transactions with executive officers (and other officers as determined by the Committee),
including any arrangements having any compensatory effect or purpose; including approving base salaries, salary increases, bonus
targets and other remuneration for the executive officers, as well as any employment terms for the executive officers not part
of the Company's standard employment terms relating to its employees generally;</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right">3.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify"><U>Director Compensation.</U>&nbsp; Review and recommend to the Board appropriate
director compensation programs for service as directors, committee chairmanships, and committee members, consistent with any applicable
requirements of the NASDAQ listing standards for independent directors;</TD>
</TR></TABLE>

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<TD STYLE="width: 15pt; text-align: right">4.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify"><U>Compensation Policies and Performance Review.</U>&nbsp; Periodically assess the
Company&#8217;s policies applicable to the Company&#8217;s executive officers and directors, including the relationship of corporate
performance to executive compensation;</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right">5.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify"><U>Retention of Compensation Consultants and Other Professionals.</U>&nbsp; Have full
authority to hire independent compensation consultants and other professionals to assist in the design, formulation, analysis
and implementation of compensation programs for the Company&#8217;s executive officers;</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right">6.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify"><U>Committee Report in Proxy Statement. </U>Assist in the preparation of and approve
a report of the Committee for inclusion in the Company&#8217;s proxy statement for each annual meeting of stockholders in accordance
with the rules of the SEC and any requirements of the NASDAQ;</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right">7.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify"><U>Review.</U> Periodically review the operation of all of the Company&#8217;s employee
benefit plans, except that the day-to-day administration of such plans, including the preparation and filing of all government
reports and the preparation and delivery of all required employee materials and communications, shall be performed by the Company's
management;</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right">8.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify"><U>Access to Executives.</U>&nbsp; Have full access to the Company&#8217;s executives
as necessary to carry out its responsibilities;</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right">9.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify"><U>Other Activities.</U>&nbsp; Perform any other activities consistent with this Charter,
the Company&#8217;s bylaws and governing law as the Committee or the Board deems necessary or appropriate; and</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right">10.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify"><U>Review Charter.</U>&nbsp; Review this Charter from time to time for adequacy and
recommend any changes to the Board.</TD>
</TR></TABLE>



<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0; text-align: justify"><B>Committee Meetings</B></P>

<P STYLE="margin: 0; text-align: justify"><BR>
The Committee shall meet with the CEO at or near the start of each fiscal year to discuss the goals and incentive compensation
programs to be in effect for such fiscal year and the performance targets triggering payout under those programs.&nbsp;</P>

<P STYLE="margin: 0; text-align: justify"><BR>
The Committee shall, by duly authorized resolution, recommend to the Board the incentive compensation programs to be in effect
for the fiscal year for the Company&#8217;s executive officers and other participants, including the objectives to be attained
and the procedures for determining the individual awards payable under those programs.&nbsp; At or near the end of each fiscal
year, the Committee shall meet to review performance under those programs and recommend to the Board the award of bonuses thereunder.
At that time the Committee shall also recommend to the Board whether to adjust base salary levels in effect for the Company&#8217;s
executive officers and shall review the overall performance of the Company&#8217;s employee benefit plans.</P>

<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0; text-align: justify">Members of the Committee may
participate in meetings remotely by means of conference telephone, Internet broadcast or similar communication device, provided
that all persons participating in the meeting can hear each other at the same time. Such participation shall constitute presence
in person at the meeting.</P>

<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0; text-align: justify">A majority of all the members
of the Committee shall constitute a quorum for the transaction of business, and the vote of a majority of all the members of the
Committee participating (including by proxy) at a meeting at which a quorum is present shall be the act of the Committee.</P>

<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0; text-align: justify">In addition, any action required
or permitted to be taken at a meeting of the Committee, may be taken without a meeting if, before or after the action, a written
consent thereto is signed by all the members of the Committee.</P>

<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0; text-align: justify">The Chairman of the Committee shall
preside at each meeting. In the event the Chairman is not present at the meeting, the Committee members present at that meeting
shall designate one of its members as the acting chair of such meeting.</P>

<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

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<P STYLE="margin: 0; text-align: justify"></P>

<P STYLE="margin: 0; text-align: justify"><B>Reporting</B><BR>
<BR>
The Secretary of the Company shall keep minutes of the Committee&#8217;s proceedings. The minutes of a meeting shall be available
for review by the entire Board, and shall be filed as permanent records with the Secretary of the Company.</P>

<P STYLE="margin: 0; text-align: justify"><BR>
At each meeting of the Board that follows a meeting of the Committee, the Chairman of the Committee shall report to the entire
Board on the matters considered at the last meeting(s) of the Committee.</P>

<P STYLE="margin: 0; text-align: justify"><BR>
The Committee shall prepare and, through its Chairman, submit periodic reports of the Committee&#8217;s work and findings to the
Board; the Committee shall include recommendations for Board actions when appropriate.</P>

<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0; text-align: justify"><B>Amendments</B></P>

<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0; text-align: justify">Amendments to this Charter shall be made by the Board and may be made with or without
a recommendation by the Committee.</P>

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<P STYLE="text-align: center; margin-right: 0; margin-left: 0"><B>MassRoots, Inc. </B><BR>
<B>Nomination and Corporate Governance Committee Charter</B><BR>
Adopted December 9, 2015</P>

<P STYLE="text-align: justify; margin: 0"><B>Role</B></P>

<P STYLE="text-align: justify; margin: 0">&nbsp;</P>

<P STYLE="text-align: justify; margin: 0">The Nomination and Corporate
Governance Committee's (the &ldquo;Committee&rdquo;) role is to determine the slate of director nominees for election to MassRoots,
Inc.&rsquo;s (&ldquo;the Company&rdquo;) Board of Directors, to identify and recommend candidates to fill vacancies occurring
between annual shareholder meetings and to review the Company's policies and programs that relate to matters of corporate citizenship,
including public issues of significance to the Company and its shareholders.</P>

<P STYLE="text-align: justify; margin: 0">&nbsp;</P>

<P STYLE="text-align: justify; margin: 0"><B>Membership</B></P>

<P STYLE="text-align: justify; margin: 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; margin: 0">The membership of the
Committee consists of at least two directors, each of whom shall meet the independence requirements established by the Board of
Directors and applicable laws, regulations and listing requirements. The Board of Directors appoints the members of the Committee
and the chairperson. The Board of Directors may remove any member from the Committee at any time with or without cause.</P>

<P STYLE="text-align: justify; margin: 0">&nbsp;</P>

<P STYLE="text-align: justify; margin: 0"><B>Operations</B></P>

<P STYLE="text-align: justify; margin: 0">&nbsp;</P>

<P STYLE="text-align: justify; margin: 0">&nbsp;</P>

<P STYLE="text-align: justify; margin: 0">The Committee meets
at least twice a year. The Committee shall meet periodically in executive session without Company management present. Additional
meetings may occur as the Committee or its chairperson deems advisable. The Committee will cause to be kept adequate minutes of
its proceedings and will report on its actions and activities at the next quarterly meeting of the Board of Directors. Committee
members will be furnished with copies of the minutes of each meeting and any action taken by unanimous consent. The Committee
is governed by the same rules regarding meetings (including meetings by conference telephone or similar communications equipment),
action without meetings, notice, waiver of notice and quorum and voting requirements as are applicable to the Board of Directors.
The Committee is authorized and empowered to adopt its own rules of procedure not inconsistent with (a) any provision of this
Charter, (b) any provision of the Bylaws of the Company, or (c) the laws of the state of Delaware.</P>

<P STYLE="text-align: justify; margin: 0">&nbsp;</P>

<P STYLE="text-align: justify; margin: 0"><B>Authority</B></P>

<P STYLE="text-align: justify; margin: 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; margin: 0">The Committee will have
the resources and authority necessary to discharge its duties and responsibilities. The Committee has sole authority to retain
and terminate outside counsel, any search firm used to identify director candidates or other experts or consultants, as it deems
appropriate, including sole authority to approve the firms' fees and other retention terms. Any communications between the Committee
and legal counsel in the course of obtaining legal advice will be considered privileged communications of the Company and the
Committee will take all necessary steps to preserve the privileged nature of those communications.</P>

<P STYLE="text-align: justify; margin: 0">&nbsp;</P>

<P STYLE="text-align: justify; margin: 0"><B>Responsibilities</B></P>

<P STYLE="text-align: justify; margin: 0">&nbsp;</P>

<P STYLE="text-align: justify; margin: 0">The principal responsibilities
and functions of the Committee are as follows:</P>

<P STYLE="text-align: justify; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right">1.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Annually evaluate and report to the Board of Directors on the performance and effectiveness
of the Board of Directors to facilitate the directors&rsquo; fulfilling their responsibilities in a manner that serves the interests
of the Company and its shareholders.</TD>
</TR></TABLE>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right">2.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Annually present to the Board of Directors a list of individuals recommended for nomination
for election to the Board of Directors at the annual meeting of shareholders and for appointment to the committees of the Board
of Directors (including this Committee). Review and consider shareholder recommended candidates for nomination to the Board of
Directors.</TD>
</TR></TABLE>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right">3.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Before recommending an incumbent, replacement or additional director, review his or
her qualifications, including capability, availability to serve, conflicts of interest and other relevant factors.</TD>
</TR></TABLE>



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<TD STYLE="width: 15pt; text-align: right">4.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Assist in identifying, interviewing and recruiting candidates for the Board of Directors.</TD>
</TR></TABLE>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right">5.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Annually review the composition of each committee and present recommendations for
committee memberships to the Board of Directors as needed.</TD>
</TR></TABLE>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right">6.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Develop and periodically review and recommend to the Board of Directors appropriate
revisions to the Company's corporate governance framework.</TD>
</TR></TABLE>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right">7.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Regularly review and make recommendations about changes to the charter of the Committee.</TD>
</TR></TABLE>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right">8.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Regularly review and make recommendations about changes to the charters of other Board
of Directors committees after consultation with the respective committee chairs.</TD>
</TR></TABLE>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right">9.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Obtain or perform an annual evaluation of the Committee's performance and make applicable
recommendations.</TD>
</TR></TABLE>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right">10.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Annually review the Company's policies and programs that relate to corporate citizenship,
including environmental sustainability, the annual public policy agenda and political activities and expenditures.</TD>
</TR></TABLE>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right">11.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">To develop and recommend to the Board for approval a Company Code of Conduct and Ethics
(the <B>&quot;</B>Code<B>&quot;</B>), to monitor compliance with the Company's Code, to investigate any alleged breach or violation
of the Code, to enforce the provisions of the Code and to review the Code periodically and recommend any changes to the Board.</TD>
</TR></TABLE>



<P STYLE="text-align: justify; margin: 0"></P>

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<P STYLE="text-align: justify; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>


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<P STYLE="margin: 0; text-align: justify"><B>MassRoots Forms Audit, Nomination and Compensation Committees</B></P>

<P STYLE="margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="margin: 0; text-align: justify">DENVER, Dec. 08, 2015 (GLOBE NEWSWIRE)
-- MassRoots, Inc. (OTCQB:MSRT), one of the largest and fastest growing social networks for cannabis consumers, is pleased to
announce it has formed audit, nomination and compensation committees, comprised of the independent members of the Company&rsquo;s
Board of Directors.</P>

<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0; text-align: justify">&ldquo;Requiring that our independent
Directors charter MassRoots&rsquo; audits, approve executive compensation and nominate fellow members of the Board boosts shareholder
accountability and transparency,&rdquo; stated MassRoots CEO Isaac Dietrich. &ldquo;This is an important step towards meeting
the corporate governance requirements mandated by the Nasdaq.&rdquo;</P>

<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0; text-align: justify">MassRoots&rsquo; Audit, Nomination
and Compensation Committees Charters can be accessed online here.</P>

<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0; text-align: justify"><B>About MassRoots</B></P>

<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0; text-align: justify">MassRoots is one of the largest and
most active communities of cannabis consumers with over 625,000 users. It is proud to be affiliated with the leading organizations
in the cannabis industry, including the ArcView Group and National Cannabis Industry Association. MassRoots has been covered by
Fox Business, CNBC, Fortune, BBC, Cannabist and the New York Times. For more information, please visit Corporate.MassRoots.com.</P>

<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0; text-align: justify">This information does not constitute
an offer to sell or a solicitation of an offer to buy securities or assets of MassRoots. All information presented herein with
respect to the existing business and the historical operating results of MassRoots and estimates and projections as to future
operations, the success of events that we are attending, and other information, is based on materials prepared by the management
of MassRoots and involve significant elements of subjective judgment and analysis which may or may not be correct. While the information
provided herein is believed to be accurate and reliable, MassRoots makes no representations or warranties, expressed or implied,
as to the accuracy or completeness of such information. In furnishing this information, MassRoots reserves the right to amend
or replace some or all of the information herein at any time and undertakes no obligation to provide the recipient with access
to any additional information.</P>

<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0; text-align: justify"><B>Forward-looking Statements:</B></P>

<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0; text-align: justify">Certain matters discussed in this announcement contain statements, estimates and
projections about the growth of MassRoots' advertising business, potential partnerships, and our related business strategy.
Such statements, estimates and projections may constitute forward-looking statements within the meaning of the federal
securities laws. Important factors that could cause our actual results to differ materially from those anticipated by the
statements made herein include, among others, the success of our advertising initiatives, the continued growth and engagement
of our user base, our ability to work with partners of the Company, and unforeseen technical or other problems or issues that
could affect the performance of our products or our business. Further information on our risk factors is contained in our
filings with the SEC, including the Amendment to our S-1 Registration Statement filed with the SEC on October 29, 2015.
Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us
to predict all of them. MassRoots undertakes no obligation to publicly update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise. The recipient of this information is cautioned not to
place undue reliance on forward-looking statements.</P>

<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0; text-align: justify">Isaac Dietrich</P>

<P STYLE="margin: 0; text-align: justify">Isaac@MassRoots.com</P>

<P STYLE="margin: 0; text-align: justify">720.442.0052</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><IMG SRC="image_001.jpg" ALT="http:||globenewswire.com|news-release|logo|353324|0|353324.jpg?lastModified=08%2F14%2F2015%2008%3A00%3A28&amp;size=1" STYLE="height: 51px; width: 150px"></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0; text-align: justify"><B>Former Coca-Cola Enterprises Executive Terence Fitch Joins MassRoots&rsquo;
Board of Directors</B></P>

<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0; text-align: justify">DENVER, Dec. 10, 2015
(GLOBE NEWSWIRE) -- MassRoots, Inc. (OTCQB:MSRT), one of the largest and fastest growing social networks for cannabis consumers,
is pleased to announce that former Coca-Cola Enterprises Executive Terence Fitch has joined MassRoots&rsquo; Board of Directors.</P>

<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0; text-align: justify">Terence Fitch is a seasoned
corporate executive with 23 years of marketing, sales and media experience. Mr. Fitch founded Drink Teck, LLC in 2013 and has
served as its Chief Executive Officer since that time. Prior to Drink Teck, Mr. Fitch spent 21 years at Coca-Cola Enterprises,
where, from 2004 to 2013, he served as the Senior Vice President and General Manager of the Western Region. During this time he
was responsible for a team of 13,500 sales, strategy, marketing, operations, manufacturing, supply chain and analytical professionals
and accountable for over $4.2 billion in sales. From 1998 to 2002, Mr. Fitch acted as Division Vice President and General Manager
for Coca-Cola&rsquo;s bottling subsidiary and also was the Regional Vice President of Sales and Marketing of Southern California
for Coca-Cola Enterprises. Mr. Fitch has a Bachelor of Science in Marketing and Finance from Arizona State University. Mr. Fitch
brings a strong understanding of financial reporting and corporate governance matters, along with expertise in enterprise risk
management and strategic planning, which we believe will strengthen the Board&rsquo;s collective qualifications, skills, and experience.</P>

<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0; text-align: justify">&ldquo;What drew me
to the regulated cannabis industry, and to MassRoots in particular, was the opportunity to establish a national brand in a multi-billion
dollar market,&rdquo; stated Terence Fitch. &ldquo;Here I was, a corporate executive with 23 years of experience, having the exact
skill sets the cannabis industry needs most &ndash; establishing consumer brands, marketing standardized products and managing
a complex supply chain. I am thrilled to be joining MassRoots&rsquo; Board and advising their management team.&rdquo;</P>

<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0; text-align: justify">&ldquo;We could not
be more excited to have a corporate executive of Terry Fitch&rsquo;s caliber join MassRoots&rsquo; Board of Directors,&rdquo;
stated MassRoots CEO Isaac Dietrich. &ldquo;We look forward to having him as one of our mentors, helping institute standard operating
procedures, formulate national growth strategies, and establish MassRoots as one of the preeminent brands in the cannabis industry.&rdquo;</P>

<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0; text-align: justify">MassRoots&rsquo; Board
now has a majority of independent Directors, which the Company believes satisfies the corporate governance requirements mandated
by the Nasdaq. Other members of the MassRoots Board of Directors include Vincent &ldquo;Tripp&rdquo; Keber, CEO of Dixie Elixirs,
the largest edibles producer in Colorado, and Ean Seeb, Owner of Denver Relief, the oldest continuously operating dispensary in
Colorado, and former Chairman of the National Cannabis Industry Association.</P>

<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0; text-align: justify"><B>About MassRoots</B><BR>
<BR>
MassRoots is one of the largest and most active communities of cannabis consumers with over 625,000 users. It is proud to be affiliated
with the leading organizations in the cannabis industry, including the ArcView Group and National Cannabis Industry Association.
MassRoots has been covered by Fox Business, CNBC, Fortune, BBC, Cannabist and the&nbsp;New York Times. For more information, please
visit&nbsp;Corporate.MassRoots.com.</P>

<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0; text-align: justify">This information does
not constitute an offer to sell or a solicitation of an offer to buy securities or assets of MassRoots. All information presented
herein with respect to the existing business and the historical operating results of MassRoots and estimates and projections as
to future operations, the success of events that we are attending, and other information, is based on materials prepared by the
management of MassRoots and involve significant elements of subjective judgment and analysis which may or may not be correct.
While the information provided herein is believed to be accurate and reliable, MassRoots makes no representations or warranties,
expressed or implied, as to the accuracy or completeness of such information. In furnishing this information, MassRoots reserves
the right to amend or replace some or all of the information herein at any time and undertakes no obligation to provide the recipient
with access to any additional information. &nbsp;</P>

<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

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<P STYLE="margin: 0; text-align: justify"></P>

<P STYLE="margin: 0; text-align: justify"><B>Forward-looking Statements</B>:</P>

<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0; text-align: justify">Certain matters discussed
in this announcement contain statements, estimates and projections about the growth of MassRoots' advertising business, potential
partnerships, and our related business strategy. Such statements, estimates and projections may constitute forward-looking statements
within the meaning of the federal securities laws. Important factors that could cause our actual results to differ materially
from those anticipated by the statements made herein include, among others, the success of our advertising initiatives, the continued
growth and engagement of our user base, our ability to work with partners of the Company, and unforeseen technical or other problems
or issues that could affect the performance of our products or our business. Further information on our risk factors is contained
in our filings with the SEC, including the Amendment to our S-1 Registration Statement filed with the SEC on&nbsp;October 29,
2015. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for
us to predict all of them. MassRoots undertakes no obligation to publicly update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise. The recipient of this information is cautioned not to place undue
reliance on forward-looking statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"></P>

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