LOS ANGELES, June 28, 2016 (GLOBE NEWSWIRE) -- PINEAPPLE EXPRESS, INC. (OTC Grey:PNPL) (“Pineapple Express” or the “Company”), a provider of consulting, technology, property rentals and branding concepts to businesses in the legal cannabis industry, announced today that it has hired Orr Builders to carry out Phase 1 of the Company’s “Pineapple Park” project in the City of Desert Hot Springs, California.
Photos accompanying this announcement are available at http://www.globenewswire.com/NewsRoom/AttachmentNg/d86b4a7d-a32e-4dee-98e8-035c516caed8 and http://www.globenewswire.com/NewsRoom/AttachmentNg/e13865e5-a726-42ea-9f14-7039a75bc00c.
Since its formation in 1994, Orr Builders, the largest general contractor based in California’s Coachella Valley, has successfully completed millions of square feet of industrial, commercial, medical, restaurant and retail space throughout Southern California.
“We are excited to have been selected to be part of the team that will bring this great project to fruition”, said Orr Builders President/CEO Brian Orr.
“We selected Orr Builders because they are made up of an extremely professional and knowledgeable group of people. The relevant experience that Orr brings will help make this project a success and deliver top of the line grow and processing spaces for our tenants. That we were able to find such a qualified partner that was local to the Coachella Valley was an added bonus. We are thrilled to have finally commenced construction on one of the first legal and large-scale commercial cannabis complexes in Southern California,” stated Matthew Feinstein, Pineapple Express CEO & Chairman.
By being retained by Pineapple Express, Orr Builders joins Prest-Vuksic Architects (Designers), MSA Engineering (Civil Engineering and Entitlement Consulting), and Searock Stafford CM (Project Management) on the project team.
Construction has begun on repurposing of the first building in the “Pineapple Park” project. The work is anticipated to take approximately 120 days, with the Park’s first tenant, Clonenetics, Inc., expected to take occupancy of the space and begin operations in the fourth quarter of this year.
Pineapple Express has issued a photo release of the proposed final site plan for “Pineapple Park”, as well as the latest conceptual rendering of the complex. Both the plan and rendering are subject to change. The site plan is going before the city this week for initial review.
The Company assists its tenants through the legal permitting process and delivers a “grey shell”, complete with power and HVAC, ready for each tenant to build out to suit its specific cultivation programs. This initial phase of Pineapple Park is one of the first cannabis cultivation projects in Desert Hot Springs to have the power infrastructure available to begin operations. Pineapple Express is now interviewing tenants for its final two phases of the park. Pineapple Express intends for “Pineapple Park” to include 10 rentable warehouse buildings with a total of approximately 168,000 square feet on 10.08 acres of land. Phase 1 is intended to be 48,000 square feet, while Phase 2 is intended to be 87,000 square feet and Phase 3 is intended to be 33,000 square feet.
About Pineapple Express
Headquartered in Los Angeles, CA, Pineapple Express invests in, expands, and brands existing and newly established canna-businesses through expert consulting and cutting-edge technology. Our common stock trades on the Grey Market. We provide capital to our canna-business clientele, lease real properties to canna-businesses, and provide consulting and technology to operators within the cannabis industry. We intend to create a nationally branded chain of company-owned cannabis retail stores under the "Pineapple Express" name, as soon as federal laws allow. As long as cannabis remains federally illegal, our operations will be limited to consulting, product licensing, leasing to and investing in existing and new canna-businesses, selling industry specific technology and branding/retail concept support services. Home to some of the most experienced and well-connected minds in the business, Pineapple Express is at the forefront of the legal cannabis industry.
Forward-Looking Statements:
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended. Statements that are not a description of historical facts constitute forward-looking statements and 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. Actual results may differ materially from those set forth in this release due to the risks and uncertainties inherent in the Company's business, including that we have a limited operating history, are dependent upon key personnel whose loss may adversely impact our business, and some of our business activities and the business activities of some of our customers and counterparties, while believed to be compliant with applicable state law, may be illegal under federal law because they violate the Federal Controlled Substances Act. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. More detailed information about the Company is available at www.otcmarkets.com/stock/PNPL/quote. All forward-looking statements are qualified in their entirety by this cautionary statement and the Company undertakes no obligation to revise or update this release to reflect events or circumstances after the date hereof.