Pineapple Express signs revenue-sharing deal for 5% of sales at 7 LA dispensaries, issues $5M note

PINEAPPLE EXPRESS CANNABIS Co

Wholly owned subsidiary AGV receives 50% of management fees (5% of total retail sales) from Pineapple Consolidated.
Deal covers operational and planned dispensaries in Hollywood, Venice, Van Nuys, Echo Park, Ventura Blvd, Northridge, Beverly Grove.
In exchange, AGV issues a $5 million promissory note to PCI at 1% interest, maturing April 20, 2029.
Transaction is a related party deal; CEO Matthew Feinstein also serves as director of PCI.
Agreement effective April 20, 2024, signed and ratified June 10, 2024.

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