LOS ANGELES, June 13, 2016 /PRNewswire/ -- PINEAPPLE EXPRESS, INC. (OTC Grey: PNPL) (the "Company"), a provider of consulting, technology, investments, turn-key property rentals and branding concepts to businesses in the legal cannabis industry, announced today that it has entered into an agreement with licensing agency The Sharpe Company ("Sharpe Company") to develop brand strategy, positioning, and lifestyle merchandise for the Company's THC® brand. The Company's common stock is available for quotation on the Grey Market.
Sharpe Company is a licensing agency that specializes in bringing the best of pop culture intellectual property to the entire world. Sharpe Company has over 40 years of IP licensing experience representing clients such as Rubik's Cube, Mr. Bean and Norton Motorcycles. "We see a tremendous opportunity to develop the THC® brand worldwide in a variety of avenues. We will be adding and updating the catalog of products, from T-shirts, hats and bags to a new list of products for today's consumer," said Sharpe Company owner Charlie Day.
"Branding is one of the most important parts of the legal cannabis industry right now. The THC® brand has had a loyal following for over 20 years and we plan to reintroduce this iconic brand to the cannabis community as well as to mainstream industries. The Sharpe Company is going to assist Pineapple Express with interesting and creative ways to develop, market, and license the THC® brand in a way that is relevant to contemporary consumers in fashion and lifestyle. The Sharpe Company provides the licensing industry knowledge and resources for us to roll out product offerings and grow our brand in the global marketplace," stated Matthew Feinstein, Pineapple Express CEO & Chairman.
Sharpe Company will be introducing the THC® brand at the Las Vegas Licensing Expo on June 21st -23rd at Mandalay Bay Convention Center and will be available for one-on-one meetings. To schedule a meeting, please contact Charlie Day or Alyssa Gourlay at 310-545-6839.
Pineapple Express' THC.com website is slated to re-launch in November.
The Sharpe agreement has a term of seven months, with an option to renew for an additional two year term upon mutually agreed terms. The Company will pay Sharpe Company (i) a monthly fee of $5,000 consisting of $2,500 cash and $2,500 options and (ii) commission payments. 50% of the cash fee may be offset against the commission payments. The commission rate shall be 35% of gross receipts collected from "Commissionable License Agreements" collected during the "Commissionable Period." "Commissionable License Agreements" means any license agreements entered into during the term of the Sharpe agreement and one year thereafter if the license agreement was procured by Sharpe during the term of the Sharpe agreement. "Commissionable Period" means the term of the Sharpe agreement and the balance of the term of any Commissionable License Agreement, provided however that the Commissionable Period shall terminate two years following termination of the Sharpe agreement.
About Pineapple Express
Headquartered in Los Angeles, CA, Pineapple Express invests in, expands, and brands existing and newly established canna-businesses through expert consulting and cutting-edge technology. Our common stock is available for quotation on the Grey Market. We provide capital to our canna-business clientele, lease real properties to canna-businesses, and provide consulting and technology to operators within the cannabis industry. We intend to create a nationally branded chain of company-owned cannabis retail stores under the "Pineapple Express" name, as soon as federal laws allow. As long as cannabis remains federally illegal, our operations will be limited to consulting, product licensing, leasing to and investing in existing and new canna-businesses, selling industry specific technology and branding/retail concept support services. Home to some of the most experienced and well-connected minds in the business, Pineapple Express is at the forefront of the legal cannabis industry.
SOURCE Pineapple Express, Inc.