ompany begins initial stages of licensing its brand, store-design, operational support and patented inventory management equipment to California canna-businesses in exchange for a perpetual 5% royalty
LOS ANGELES, Feb. 26, 2018 (GLOBE NEWSWIRE) — Pineapple Express, Inc. (OTC Grey: PNPL) (the “Company” or Pineapple Express”), a publicly traded company that offers consulting, technology, capital and real estate services, turn-key property rentals, and branding concepts to businesses in the legal cannabis industry, today announced it has commenced the process of implementing a “franchise business model” for cannabis retail stores in California.
The franchise model roll-out includes: licensing Pineapple Express’s brand name, logo, store design and layout (concept pictured below), and the use of its patented “Top-Shelf” Safe Display System) for inventory management and security to cannabis retail stores in California. The Company is particularly excited to offer the Top Shelf system, which combines four critical components of the cannabis retail environment (safety, scalability, aesthetics and inventory management), as a single, technologically advanced and stylish unit. Pictured further below are the Company’s planned cannabis retail store design and views of its Top-Shelf display system.
We have spent considerable resources on our branding, store design, and patented equipment aimed at modernizing the cannabis retail dispensary experience while increasing oversight and operational efficiency,” said Matthew Feinstein, CEO of Pineapple Express. “We are now in the initial stages of developing several of these Pineapple Express branded stores in Los Angeles and surrounding counties in Southern California,”continued Mr. Feinstein. Feinstein has had 27 years of experience in the retail business space (including nine years in franchising and five years in the cannabis industry).
Pineapple Express looks forward to providing more information about the Top-Shelf system and its other initiatives in the future as further developments happen.