Los Angeles, Nov. 17, 2015 (GLOBE NEWSWIRE) -- Pineapple Express (OTC Pink: PNPL), a publicly traded company that offers cannabis industry consulting, technology, investments, turn-key property rentals, and branding concepts to businesses in the legal cannabis industry, announced today that it has opened an investment round of $1M to accelerate its continued growth and expansion. The common stock investment round will be offered through the JOBS Act, Section 506(c), a law that allows issuers to advertise their offerings to the general public.
The minimum investment will be $20,000. Participation in the offering is only available to "accredited investors" who generally include persons with a net worth of at least $1 million (excluding residence), income of $200,000 per year (or $300,000 with spouse), officers and directors of the issuer, and institutions that have more than $5 million in assets.
Matthew Feinstein, chief executive officer and chairman, comments "Since our inception we have been offering long term strategies for entrepreneurs looking to establish new cannabis dispensaries and production facilities, and we have been helping existing operators "Pineapple-ize" their current operations with our distinctive brand. We expect the next six months to be a key period in our development, and this financing will enable us to accelerate our continued growth."
"We are pleased to use the new Rule 506(c) general solicitation structure for this offering," states Chris Plummer, chief compliance officer at Pineapple Express. "This structure allows us to reach a broader audience of investors and is faster and less expensive than a traditional public offering. We are committed to creating and maintaining lasting shareholder value, and this cost-effective offering is ideal for raising the capital in a transparent and efficient manner."
To find out how to invest in Pineapple Express, please call 877-310-PNPL or visit http://www.pineappleexpress.com/.
About Pineapple Express
Headquartered in Los Angeles, Calif., Pineapple Express is a publicly traded company that invests in, expands, and brands existing and newly established canna-businesses through expert consulting and cutting-edge technology. 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.
Pineapple Express, Inc.
1901 Avenue of the Stars, 2nd Floor
Los Angeles, CA. 90067
Investor Relations Contact:
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