LOS ANGELES, Oct. 07, 2016 (GLOBE NEWSWIRE) -- PINEAPPLE EXPRESS, INC. (OTC Grey:PNPL) (“Pineapple Express” or the “Company”), a provider of consulting, technology, cultivation suite rentals, and branding concepts to businesses in the legal cannabis industry, today issued the following shareholder update letter from Matthew Feinstein, CEO and Chairman.
To our valued shareholders:
First and foremost, I wish to thank you for your continued support. As CEO of Pineapple Express, I am pleased to provide an update on the recent developments and milestones that we have achieved, and to discuss our vision for the Company’s future.
Our Recent Developments and Milestones
We’ve made strong progress in the last few months. Below is a summary of our recent developments and achievements:
The Company anticipates completion of the prototype and to commence sales of the system to dispensaries in 2017.
There's a remarkable amount of opportunity ahead of us in this new era of the cannabis industry for Pineapple Express in both this next year and upcoming years. 25 states and the District of Columbia have legalized medical or recreational cannabis. Polls show that marijuana is leading in every state where it is on the ballot in November (including Proposition 64 in California). The Company’s management team consists of seasoned professionals that come from brand marketing, the retail industry, real estate development, and the cannabis industry. We believe we are leading and/or will be leaders in the areas of canna-branding and canna-marketing, canna-retail, and canna-real estate development through our superb talents. Over the long term this should translate to sustained growth well into the future.
We see an unprecedented amount of opportunity heading into 2017 and the long term. Although we still have a lot of hard work ahead, our projects are generating excitement and promise. When I pause to reflect on how far we've come over the past year and how much further we'll go in the next one, I couldn't be more excited and optimistic. On behalf of the entire Pineapple Express management team, I would like to again thank you for your continued support. We strongly believe we have the staff, expertise, and strategic approach necessary to create the future we envision and we look forward to reporting on our progress as we continue to execute on our plans.
Matthew Feinstein, CEO and Chairman, Pineapple Express, Inc.
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.
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.GlobeNewswire
Last updated on: 10/10/2016
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