LOS ANGELES, April 04, 2016 (GLOBE NEWSWIRE) -- PINEAPPLE EXPRESS, INC. (OTCPink:PNPL) (the “Company”), a publicly traded company that offers consulting, technology, investments, turn-key property rentals and branding concepts to businesses in the legal cannabis industry, today announced that it has been advised that due to the recent increase in trading activity in the Company’s stock, OTC Markets has placed a “Caveat Emptor” advisory on the Company’s Company’s OTC Markets information page, resulting from ‘unusual or unexplained trading activity’. In an abundance of caution, the Company has decided to limit its press releases and corporate communications until the advisory is removed. The Company has been, and will continue to be, in communication with OTC Markets regarding this designation. The Company has advised OTC Markets that upon completion of an ongoing independent audit, the Company intends to file a Form 10 with the U.S. Securities and Exchange Commission to initiate the process of becoming a fully reporting company, which the Company anticipates will be filed within the next 30 days.
About Pineapple Express
Headquartered in Los Angeles, CA, 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.
Company Contact: Matthew Feinstein CEO/Chairman Pineapple Express, Inc. 1901 Avenue of the Stars, 2nd Floor Los Angeles, CA. 90067 Office: 877-310-PNPL Investor Relations Contact: Scott Arnold CorProminence LLC 377 Oak Street Garden City, NY 11530
Source:Pineapple Express, Inc.