GROOVY COMPANY, INC. (GROO): M&A transaction — Pineapple Express Cannabis acquires controlling stake in GROOVY via share exchange

GROOVY COMPANY, INC.

Pineapple Express (PNXP) exchanged 5M common shares for 350M Series A Preferred of GROOVY (SANP).
Pineapple Express now owns >51% voting rights of GROOVY; GROOVY becomes a subsidiary.
GROOVY operates a blockchain-based PaaS using NFT QR codes for cannabis product authentication.
Pineapple Express assumes certain convertible debt of GROOVY that converts into its common stock.
Transaction intended as tax-free reorganization under Section 368 of the IRC.

item 1.01 item 2.01 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

GROOVY COMPANY, INC. underwent a change of control involving Pineapple Express Cannabis Company (closed 2025-03-05).

Action: change of control
Counterparty: Pineapple Express Cannabis Company
Closing: 2025-03-05

Exact text from the filing

On March 5, 2025, Pineapple Express Cannabis Company, a Nevada corporation (the “Company”), completed the acquisition of a controlling interest in GROOVY Company, Inc. f/k/a Santo Mining Corp., a Wyoming corporation (“GROOVY”), pursuant to the Share Exchange Agreement (the “Agreement”) previously disclosed in Item 1.01 of this Current Report on Form 8-K.

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GROOVY COMPANY, INC. filing history →

Source: SEC EDGAR

accession 0001393905-25-000107

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