secwatch.observer — SEC 8-K summary
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Issuer:     PINEAPPLE EXPRESS CANNABIS Co (PNXP)
CIK:        0001710495
Form:       8-K
Filed at:   2024-06-11T23:59:59+00:00
Accession:  0001493152-24-023411
Event type: other_material
Sentiment:  positive
Materiality: 0.70
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1710495/000149315224023411/0001493152-24-023411-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1710495/000149315224023411/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-023411

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer