Company anticipates trading to resume in August
LOS ANGELES, July 21, 2021 (GLOBE NEWSWIRE) -- PINEAPPLE, INC. (OTC Grey: PNPL) (the “Company” or “Pineapple”) is a publicly traded company in the legal cannabis industry with a portfolio of assets spanning operational management, technology, IP licensing, cannabis property rentals, and equity ownership in cannabis retail and production facilities. The Company today announced that it is in the final stages of its process to upgrade from trading on the Grey Market to trading on the OTC Markets and anticipates that this will take place in August 2020. The audit of the Company's financial statements for its fiscal year ended December 31, 2020 ("2020 FY"), along with the review of the Company’s financial statements for the first quarter ended March 31, 2021 ("Q1 2021"), are also in its final stages and the Company anticipates filing with the U.S. Securities and Exchange Commision the Company's Annual Report on Form 10-K for the 2020 FY and Q1 2021 by August 2020 as well. A condition of moving to the OTC market is the Company completing such periodic filings.
Commenting on the filing, Pineapple's CEO Shawn Credle said “The Company remains extremely excited about its future and all of the developments it will be sharing with the public in short order. Exciting things to come!”
Director, Matthew Feinstein went on to say, “Upgrading from the Grey Market will allow us to give our shareholders more liquidity, increase shareholder value and greater protections that come with the stability of an OTC Markets listing”.
About Pineapple, Inc.
Pineapple, Inc. (the “Company” or “Pineapple”) is based in Los Angeles, California. Through our operating subsidiary Pineapple Express Consulting, Inc., as well as our 40% owned portfolio asset, Pineapple Ventures, Inc. (“PVI”), the Company runs a cannabis delivery service, Pineapple Express, via PineappleExpress.com as well as hemp CBD e-commerce company, Pineapple Wellness, via PineappleWellness.com. PVI also provides capital to its canna-business clientele, lease real properties to those canna-businesses, take equity positions and manage those operations, and provide consulting and technology to develop, enhance, or expand existing and newly formed infrastructures. Pineapple is built to become the leading portfolio management company in the U.S. cannabis sector. The Company’s executive team blends enterprise-level corporate expertise with a combined three decades of experience operating in the tightly-regulated cannabis industry. Pineapple’s strategic asset integration has provided it with the infrastructure to support its subsidiaries with cost-effective access to all segments of the vertical: from cultivation and processing, to distribution, retail and delivery. With its headquarters in Los Angeles, California Pineapple’s portfolio company, PVI, is rapidly increasing its footprint throughout the state and looking to scale into underdeveloped markets.
All statements other than statements of historical facts contained in this press release are “forward-looking statements,” which may often, but not always, be identified by the use of such words as “expects”, “anticipates”, “intends”, “estimates”, “plans”, “potential”, “possible”, “probable”, “believes”, “seeks”, “may”, “will”, “should”, “could” or the negative of such terms or other similar expressions. These statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements. These factors include uncertainties as to the application and enforcement of U.S. and state federal laws in the cannabis industry (including to the Company’s business activities and the business activities of some of its customers and counterparties), ability to attract new canna-business clientele, successfully implementing the Company’s growth strategy (including relating to the Company’s intention to create a nationally branded and vertically integrated chain of cannabis retail stores under the “Pineapple Express” name and anticipated development of Company-owned cultivation and processing facilities), dependence on key Company personnel, timing of the filing the Company’s Form 211 with FINRA and clearing related comments, obtaining approval for the Company’s common stock to be quoted on one of the three OTC Markets, changes in economic conditions, competition and other risks including, but not limited to, those described from in the Company’s Annual Report on Form 10-K, filed with the Securities and Exchange Commission on February 12, 2021 (the “SEC”), and other filings and submissions with the SEC. These forward-looking statements speak only as of the date hereof and the Company disclaims any obligations to update these statements except as may be required by law.
Matthew Feinstein, Director
Pineapple Express, Inc.
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