Pineapple Express Cannabis Company Executes Substantial Revenue Generating Contract Regarding Multiple Cannabis Dispensaries
Company signs contract to receive 5% of all sales at 7 retail dispensaries in Los Angeles
LOS ANGELES, CA, June 11, 2024 (GLOBE NEWSWIRE) — Pineapple Express Cannabis Company (OTC: PNXP) (the “Company” or “Pineapple Express”), a publicly traded company, today announced that its wholly owned subsidiary, Ananas Growth Ventures (“AGV”), has signed a revenue generating contract with Pineapple Consolidated, Inc. to receive 50% of its management fee revenue related to multiple legal cannabis retail operations in Los Angeles, in exchange for a $5 million-dollar promissory note. The contract, which has been in the works for weeks, is effective as of April 20, 2024, but was ratified by the board of directors of the Company and signed on June 10, 2024.
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