Pineapple Express Cannabis Company

03/11/2025 | Press release | Distributed by Public on 03/11/2025 04:01

Pineapple Express Cannabis Company and Groovy Company Announce Strategic Share Exchange Agreement (Form 8-K)

Pineapple Express Cannabis Company and Groovy Company Announce Strategic Share Exchange Agreement

"StrategicacquisitioncombinesGROOVY'sblockchain-basedcannabisauthenticationplatformwithPineappleExpress'sindustrypresence"

ATLANTA, GEORGIA / ACCESS Newswire / March 11, 2025 / Pineapple Express Cannabis Company d/b/a PINYA XP (OTC PINK:PNXP) and GROOVY Company, Inc. f/k/a Santo Mining Corp. (USOTC:SANP) today announced the execution of a Share Exchange Agreement, creating a powerful partnership in the cannabis technology and authentication space. Under the terms of the agreement, Pineapple Express Cannabis Company will acquire a controlling interest in GROOVY Company, making GROOVY a subsidiary of Pineapple Express. The transaction will be executed through an exchange of 350,000,000 shares of Series A Preferred shares of GROOVY for 5,000,000 shares of common stock of Pineapple Express.

This strategic combination leverages GROOVY's innovative centralized Hyperledger blockchain-based Platform as a Service (PaaS) with Pineapple Express's established position in the cannabis industry.

"This partnership represents a significant milestone in our mission to bring transparency and trust to the cannabis industry," said Frank Yglesias, who serves as CEO of both companies. "By combining GROOVY's cutting-edge blockchain authentication technology with Pineapple Express's industry presence, we're positioned to revolutionize how consumers verify the authenticity and origin of cannabis products."

About GROOVY's NFT-QR Tag Authentication System

GROOVY has developed a pioneering platform that leverages Hyperledger Fabric blockchain technology and NFT standards (ERC1155, ERC725X, ERC725Y, and ERC735) to address significant challenges in the cannabis industry. The platform utilizes NFT-based QR codes to verify the authenticity and origin of cannabis products, combating counterfeiting and providing consumers with verifiable information.

Key features of the platform include:

·Product authentication through blockchain-verified NFT-QR tags

·Detailed strain information including genetics, cannabinoid profiles, and terpene content

·Lab test verification and traceability from seed to sale

·Automated royalty distribution for cannabis strain intellectual property

·Enhanced supply chain transparency and management

Strategic Benefits

This transaction provides several strategic advantages:

1.Enhanced capital resources to accelerate the implementation of GROOVY's business plans

2.Integration of blockchain authentication technology into established cannabis distribution channels

3.Expanded market reach and adoption potential for the authentication platform

4.Combined expertise in both cannabis operations and advanced blockchain solutions

The transaction is expected to close in the coming weeks, subject to customary closing conditions.

About PINYA XP fna Pineapple Express Cannabis Company dba PINYA XP

At PINYA XP (USOTC:PNXP), our mission begins with saving lives. Through our GROOVY PaaS 4IR Ecosystem, we provide unalterable verification of cannabis product authenticity, ensuring consumers receive exactly what they expect. This blockchain-powered system prevents counterfeit products from reaching the market, protecting consumers from potentially harmful substances while enabling healthcare professionals to confidently recommend products with verified profiles.

Our centralized Hyperledger Fabric blockchain creates an immutable record of each product's journey from seed to sale. Every scan of our QR-NFT tags reveals a complete history of the product's cultivation, testing, and distribution, establishing an unbreakable chain of trust throughout the supply chain. This transparency isn't just about compliance - it's about creating a safer cannabis industry for everyone.

The GROOVY Rewards program transforms product authentication into an engaging experience. Consumers earn rewards for verifying products, completing educational

modules, and participating in our community. This gamification approach not only encourages active participation in product safety but also generates valuable data insights that help drive industry improvements.

Our Geno-NFT Library revolutionizes intellectual property protection in cannabis. This secure, blockchain-based repository allows growers to register their unique strains and receive automatic royalties when their genetics are used in authenticated products. By ensuring fair compensation for innovation, we're fostering the development of new, high-quality cannabis varieties.

The GROOVY Marketplace connects all these elements into a comprehensive ecosystem where authenticated products, verified genetics, and engaged consumers come together. Our AI-powered analytics engine processes this rich data to provide actionable insights, enabling businesses to make informed decisions while ensuring product safety and quality.

Pineapple Express Cannabis Company published this content on March 11, 2025, and is solely responsible for the information contained herein. Distributed via SEC EDGAR on March 11, 2025 at 10:01 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at support@pubt.io