Pineapple Express Cannabis Co. Files 8-K for Material Agreement

TL;DR

Pineapple Express Cannabis Co. just signed a big deal, filing an 8-K. Keep an eye on this.

AI Summary

Pineapple Express Cannabis Co. entered into a Material Definitive Agreement on June 10, 2024. The filing also includes financial statements and exhibits related to this agreement. The company was formerly known as MINARO CORP.

Why It Matters

This 8-K filing indicates a significant new agreement for Pineapple Express Cannabis Co., which could impact its business operations and financial standing.

Risk Assessment

Risk Level: medium — Material Definitive Agreements can introduce new risks or opportunities, and the specifics of this agreement are not detailed in the provided text, necessitating further investigation.

Key Players & Entities

• PINEAPPLE EXPRESS CANNABIS Co (company) — Registrant
• MINARO CORP (company) — Former company name
• June 10, 2024 (date) — Date of earliest reported event

FAQ

Key Financial Figures

• $5 million — tions in Los Angeles, in exchange for a $5 million-dollar promissory note. The Agreement i

Filing Documents

• form8-k.htm (8-K) — 41KB
• ex10-1.htm (EX-10.1) — 39KB
• ex99-1.htm (EX-99.1) — 11KB
• ex99-1_001.jpg (GRAPHIC) — 3KB
• 0001493152-24-023411.txt ( ) — 268KB
• pnxp-20240610.xsd (EX-101.SCH) — 3KB
• pnxp-20240610_lab.xml (EX-101.LAB) — 33KB
• pnxp-20240610_pre.xml (EX-101.PRE) — 22KB
• form8-k_htm.xml (XML) — 3KB

From the Filing

UNITED SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest reported): June 10, 2024 PINEAPPLE EXPRESS CANNABIS COMPANY (Exact name of registrant as specified in its charter) Nevada 333-223963 36-4864568 (State or other jurisdiction (Commission (IRS Employer of Incorporation) File Number) Identification Number) 1230 Wilshire Blvd Suite 302 Los Angeles , CA 90025 (Address of principal executive offices) (888) 245-5703 (Registrant's telephone number, including area code) N/A (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2.) Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CF$ 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered N/A N/A N/A Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Item 1.01. Entry into a Material Definitive Agreement. On June 11, 2024, Pineapple Express Cannabis Company (the "Company") announced that its wholly owned subsidiary, Ananas Growth Ventures ("AGV"), had entered into a Revenue Sharing Agreement and Promissory Note (the "Agreement") with the Company and Pineapple Consolidated, Inc. ("PCI") to receive fifty percent (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 Agreement involves operational and to be operational retail dispensaries in Hollywood, Venice Blvd., Van Nuys, Echo Park, Ventura Blvd, Northridge, and the Beverly Grove area of Los Angeles, California. The Agreement calls for the Company to directly receive half of the management fees collected by Pineapple Consolidated, Inc., which currently amounts to ten percent (10%) of retail sales collected per location resulting in five percent (5%) of all retail sales to be received by the Company and AGV. In exchange, AGV will issue a $5 million-dollar promissory note to PCI, bearing one percent (1%) interest per year, and payable at the Company's and AGV's discretion with a maturity date of April 20, 2029. Mr. Matthew Feinstein, who currently serves as Director, President, Chief Executive Officer and Treasurer of the Company, also currently serves as Director at PCI. Accordingly, the Agreement constitutes a related party transaction for the Company pursuant to Item 404 of Regulation S-K. The description of the Agreement set forth in this Item 1.01 is qualified in its entirety to the full text of the Agreement, which is attached hereto as Exhibit 10.1 and incorporated herein by reference. A copy of the press release associated with the entry into the Agreement is attached as Exhibit 99.1. Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 10.1 Revenue Sharing Agreement and Promissory Note, by and between Ananas Growth Ventures, Pineapple Express Cannabis Company, and Pineapple Consolidated, Inc., dated as of June 10, 2024. 99.1 Press Release, dated June 11, 2024, of the Company 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Pineapple Express Cannabis Company Dated: June 11, 2024 By: /s/ Matthew Feinstein Name: Matthew Feinstein Title: President, CEO and Treasurer

View Full Filing

View this 8-K filing on SEC EDGAR