Company clarifies no affiliation to delivery service in Canada
LOS ANGELES, April 07, 2020 (GLOBE NEWSWIRE) -- PINEAPPLE EXPRESS, INC. (OTC Grey: PNPL) (the “Company” or “Pineapple Express”), a publicly traded company in the legal cannabis industry that through its portfolio of assets offers operational management, technology, IP licensing, Cannabis property rentals, and equity in cannabis retail and production facilities, today provided an update regarding its pending rebranding to Pineapple, Inc.
Management commented that the name change has been filed with the state of Nevada and is anticipated to take effect on or about April 15, 2020. In addition, the Company is in the process of submitting the name change to FINRA. “It is important to emphasize that we made this name change in recognition of the broadening scope of our corporation,” said Matt Feinstein, Director for the Company. “This change has no effect on our operations, our stock, or any of our shareholders.”
Once effective, the Company’s branding will be clearly identifiable through use of official company logos (pictured below).
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e07054ef-c36c-4fcf-8b57-4a0ce09304fe
Management also clarified that its portfolio asset, Pineapple Ventures, Inc. (“PVI”) has well-established, ongoing operations serving California medicinal and recreational cannabis customers through its statewide delivery service PineappleExpress.com, as well a growing national footprint at PineappleWellness.com, which delivers hemp-derived CBD nationwide.
PVI’s logos and trade names for its brands of Pineapple Express and Pineapple Wellness are included below and are pending trademark and service mark registrations.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ac6d34ce-55ed-4a71-a78e-17aef6f076ce
Company management also elaborated on an unrelated Canadian entity whose operations and press releases may have caused brand confusion with Pineapple Express, Inc. and PineappleExpress.com.
“We want to make it clear that we are not operating in Canada, have not licensed our brand name to any other operation, nor do we have any affiliation with this Canadian entity,” stated Pineapple Express CEO, Shawn Credle. “At this point, we are seeking all available remedies to limit brand confusion from occurring with other industry participants regarding our Pineapple Express brand and our cannabis delivery portal at pineappleexpress.com."
About Pineapple Express, Inc.
Pineapple Express, Inc. (the “Company” or “Pineapple Express”) is based in Los Angeles, California. Through our operating subsidiary Pineapple Express Consulting, Inc., as well as our portfolio asset, Pineapple Ventures, Inc. (“PVI”) we provide capital to our 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 Express 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 Express’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 in Los Angeles, California Pineapple Express’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 Securities and Exchange Commission on April 1, 2020 (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 Express, Inc.
Office: 877-310-PNPL
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