Pineapple Consolidated, Inc. Responds to 2 Chainz Lawsuit

Company recently named in lawsuit by famous rapper over investment in pharmacy

LOS ANGELES, CA, Aug. 12, 2024 (GLOBE NEWSWIRE) — Pineapple Consolidated, Inc., (the “Company” or “PCI”), a 25% minority equity stake in Pineapple Express Cannabis Company (OTC: PNXP), a publicly traded company, today announced that a celebrity investor in PCI’s Hollywood cannabis dispensary, 2 Chainz, has filed a legal action against PCI regarding his investment. The lawsuit alleges dissatisfaction with his investment, which PCI says has increased after the dispensary temporarily closed during the last week of July and its planned closure for the entire month of August. The situation has received some media attention. A thoughtful and balanced perspective on the issue can be found here.

Company management confirms that they are actively working to resolve this issue in private arbitration, which is permitted in the agreement they signed with 2 Chainz’s investment group. PCI is committed to resolving the issue discreetly and amicably, in full compliance with the terms of the contract.