Our stock is set to trade again on the over the counter market grey sheets beginning upon the opening of the markets on
We believe we have fully disclosed all material items in our
Business Growth and Development
During the past two weeks, while trading in the shares has been suspended, the Company has been continuing to grow the business and plan its going forward strategy.
We are happy to report that the Company's business has continued to grow, with more and more customers signing up to use thewww.pharmajanes.comonline ordering and delivery platform than ever before.We have had to hire additional drivers to service the increased demand.
As we reported earlier this week we are committed to launching the products and services we have already announced and you will see more news from us on this front as we go forward.
I am pleased to report that we are also engaged in new initiatives to grow the business, including being in late-stage and interesting potential partnerships with a variety of medical cannabis-related business partners which we will be in a position to announce soon.
The Merger: A New Vehicle
AEGY also has agreed in principal to merge with or be acquired by a Canadian company listed on the
Specific details of the planned acquisition transaction and its effect on the Company and its shareholders will be provided as soon as the definitive acquisition agreement has been signed, but the Company will update shareholders when the letter of intent has been signed.Rest assured that we will continue to move forward with maintaining any requisite regulatory filings and we will audit our financials if and as required to do so.
Corporate Governance and Operations Changes
While this merger is ongoing, we are commencing a search for a full-time CEO for the merged company, and we will be restructuring the board of directors for the new company, so that the new company's board of directors will look and function increasingly like a traditional public company board of directors, with a combination of directors drawn from management and independent directors, as well as having committees overseeing audit, compensation, and nominating and governance functions.We are also going to be enhancing the new company's capabilities by creating and building out an advisory board of high profile and well placed individuals in the industry and related roles to assist the new company in its growth.We are also seeking an appropriately qualified CFO to join the new company so that everyone will have confidence in our financial statements and their presentation.
I want to thank our shareholders and customers for continuing to believe in the Company and its business model, and we look forward to the exciting days ahead as we continue to serve the growing population of medical cannabis patients in
The statements in this document have not been evaluated or approved by the
AEGY'sPharmaJanesprovides a technology platform that facilitates patient enrollment in its exclusive network of dispensaries by processing and verifying patients' applications. In addition,PharmaJanesroutes customer orders to its exclusive non-profit collectives, which then process and deliver the orders to patients in their homes. Upon completion of verification, patients have access to all medical cannabis products available on thePharmaJanesmenu.PharmaJanesfeatures products produced by master growers, and products licensed by SKTO to its wholesale managed collectives.
PharmaJanes' online ordering platform allows authorized medical marijuana patients to order, process and pay for their authorized needs, in a simple, safe and secure ordering and payment interface. Simple Prepay, a separate division of AEGY, is a merchant payment solution developed to offer a convenient payment solution to medical cannabis dispensaries, collectives, and delivery services.PharmaJanesalso is the exclusive online marketing platform for Medical Greens, a subsidiary of SKTO.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the company's current plans and expectations, as well as future results of operations and financial condition. A more extensive listing of risks and factors that may affect the company's business prospects and cause actual results to differ materially from those described in the forward-looking statements can be found in the reports and other documents filed by the company with the