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sentiment negative
materiality 0.40
Pineapple terminates $1M stock purchase agreement for 50% of CGI
PINEAPPLE, INC.
- Agreement to acquire up to 50,000 shares (50% of CGI) from Pineapple Ventures for $1,000,000 terminated.
- Company had paid $100,000 and later $195,000 refundable deposit; balance of $805,000 never paid.
- Termination effective August 22, 2022; all funds to be returned to originating parties.
- Previously extended closing date to August 5, 2022; deal now unwound.