Company awaits final clearance letter to commence active quotation and trading
LOS ANGELES, CA, July 28, 2022 (GLOBE NEWSWIRE) -- PINEAPPLE, INC. (OTC Pink: PNPL) (the “Company” or “Pineapple”), a public reporting 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 having attained current standing with the reporting requirements of the United States Securities and Exchange Commission and applied for quotation on the OTC Markets platform, it has entered the anticipated final stages to become publicly quoted on the OTC Markets platform.
Chairman Matthew Feinstein stated, “It has certainly taken longer than we anticipated. However, we have been advised by our market maker there is no definitive timeframe for a further response on our application, which is due to reasons outside the Company’s control. Thus, it could be as little as a couple of weeks or could be a couple months from this point for us to be a publicly quoted and traded company on the OTC platform. That is now in the hands of the regulatory authority.”
CEO & President Shawn Credle added, “We have had multiple rounds of addressing the requested items over the last year and are nearing the final stages with our last correspondence two months ago. We are eagerly awaiting confirmation of our maturation as a public company for the benefit of our shareholders that have believed in us along the way. This is a victory for all of us.”
About Pineapple, Inc.
Pineapple, Inc. (the “Company” or “Pineapple”) is based in Los Angeles, California. Through its operating subsidiary Pineapple Express Consulting, Inc., as well as its 45% owned portfolio company, Pineapple Ventures, Inc. (“PVI”), the Company runs a cannabis delivery service, Pineapple Express, via www.PineappleExpress.com, as well as hemp CBD e-commerce company, Pineapple Wellness, via www.PineappleWellness.com. PVI also provides capital to its canna-business clientele, leases real properties to those canna-businesses, takes equity positions and manages those operations, and provides 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.
Forward-Looking Statements:
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 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.
Company Contact:
Matthew Feinstein, Director
Pineapple, Inc.
Office: 877-310-PNPL
