Pineapple, Inc.’s Cannabis Real Estate Subleasing Model Featured In Business Journal Cover Story
Los Angeles Business Journal touts the Company’s expansion with a total of 10 retail dispensary subleases in Los Angeles
LOS ANGELES, CA, Feb. 20, 2024 (GLOBE NEWSWIRE) — Pineapple, Inc. (OTC: PNPL) (the “Company” or “Pineapple”), a publicly traded company, today announced being featured on the cover page of Los Angeles Business Journal. The article, which ran in the November 2023 issue of the journal, focused on the Company’s cannabis real estate strategy in entitling properties with cannabis retail permitting and subleasing those properties to cannabis operators at a premium rental rate. The article also discussed the Company’s expansion through subleasing to nine additional retail dispensaries in Los Angeles. The additional locations supplement the existing dispensary on the Hollywood Walk of Fame where Pineapple currently subleases the premises at a profit.
Management commented that there are commemorative stars on the floor of the dispensary themed like the real Walk of Fame stars just steps away, that celebrate important people to the Company. Those stars on the store’s ‘Walk of Fame’ include Tommy “Debo” Lister of the ‘Friday’ movie franchise who was a celebrity spokesperson for the Pineapple brand from 2019-2020 before he passed away. Long-time Pineapple investor, Larry Flynt, also has a star on the floor of the dispensary. Mr. Flynt’s estate is now the holder of equity as Mr. Flynt famously invested in PNPL public stock in 2016.
“We set the bar extremely high when building out the infrastructure of our first dispensary lease in Los Angeles and notably at the famed intersection of Hollywood & Vine,” said CFO and Chairman, Matthew Feinstein.
The Company has an aggressive launch schedule planned for the nine additional retail dispensaries it leases space to in Los Angeles and will provide updates as the new locations commence operations.
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.
Forward-Looking Statements:
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.
Company Contact:
Matthew Feinstein, Director
Pineapple, Inc.
Office: 877-310-PNPL
