Pineapple Inc. Procures Ten Properties and Subleases to Cannabis Retailers at a Profit
Company executes on non-plant touching business model and becomes a landlord to the cannabis industry
LOS ANGELES, CA, June 21, 2023 (GLOBE NEWSWIRE) — PINEAPPLE, INC. (OTC Pink: PNPL) (the “Company” or “Pineapple”), a company in the legal cannabis industry that focuses on non-plant touching activities, such as leases to licensed cannabis operators, online and in-store hemp-derived CBD transactions, and cannabis business licensing and consulting services, announced executing on ten separate lease agreements and assignments of rental property leases throughout metro Los Angeles and subsequent subleases to cannabis retail companies at a 20% profit, on average.
Management confirmed that these initial ten profit generating leases pictured below are the first of what the Company intends on replicating in other cannabis markets across the country. The leases are in the metro Los Angeles neighborhoods of: Hollywood, Northridge, Van Nuys, Mid-City Venice, Beverly Grove, Westwood, Mid-Wilshire, Woodland Hills, Highland Park, & Echo Park.
Pineapple, Inc. Chairman, Matthew Feinstein, said “Our development partner that manages retail dispensaries presents our Company with prime real estate subleasing opportunities which provides us with a long-term, passive, revenue stream. As they expand, so too will we expand.”
About Pineapple, Inc.
Pineapple, Inc. (the “Company” or “Pineapple”) is based in Los Angeles, California. The Company procures and leases properties to licensed cannabis operators and through its wholly owned subsidiary, Pineapple Wellness, inc., provides nationwide hemp-derived CBD sales via online ( Pineapplewellness.com ) and in-store transactions at Pineapple’s flagship CBD retail location near Beverly Hills,, CA. Through another subsidiary, Pineapple Express Consulting Inc., it also offers cannabis business licensing and consulting services. The Company’s executive team blends enterprise-level corporate expertise with decades of combined experience operating in the tightly-regulated cannabis industry.
All statements other than statements of historical facts contained in this press release are “forward-looking statements,” which 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”, “might”, “will”, “will likely result”, “would”, “should”, “could”, continue”, “target” or the negative of such terms or other similar expressions. These statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements. These factors include uncertainties as to changes in economic conditions, competition and other risks including, but not limited to, those described from in the Company’s Annual Report on Form 10-K, filed with the U.S. Securities and Exchange Commission (the “SEC”) on May 5, 2023, and other filings and submissions with the SEC. These forward-looking statements speak only as of the date hereof and the Company disclaims any obligations to update these statements except as may be required by law. The Company intends that all forward-looking statements be subject to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995.
Matthew Feinstein, Director
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