Pineapple sells 45.18% interest in PVI; cancels 20M shares and eliminates debt

PINEAPPLE, INC.

Enters binding LOI to sell 45.18% interest in Pineapple Ventures, Inc. (PVI) for 20,000,000 PNPL shares cancelled at execution.
Agreement extinguishes all outstanding indebtedness owed by PNPL to PVI and Neu-Ventures, Inc. (NVI) after execution.
Counterparty ORTEGA holds 100% of PVI and NVI; deal transfers stake back to ORTEGA while eliminating debt.

item 1.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

PINEAPPLE, INC. entered into Letter of Intent with ORTEGA valued at 20,000,000 PNPL shares.

Action: entry
Agreement: asset purchase
Counterparty: ORTEGA
Value: 20,000,000 PNPL shares

Exact text from the filing

PNPL hereby agrees to sell 45.18% interest in PVI for a purchase price of 20,000,000 PNPL shares paid at execution of this Letter of Intent (“Share Cancellation”).

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PINEAPPLE, INC. filing history →

Source: SEC EDGAR

accession 0001493152-23-000195

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