EV Hotel Corp. and Plandai Biotechnologies Enter Into Asset Acquisition Agreement to Create the Leading Smart Hotel Brand - EV Hotel Corp.
Plandai Biotechnology (OTC PINK:PLPL) announced its asset acquisition agreement with EV Hotel Corp, aiming to innovate the hospitality industry with the smart hotel concept. This platform integrates technology, automation, IoT, crypto, and NFTs to enhance guest experiences and operational efficiency. The acquisition will involve a reverse stock split of 100:1 and controls changing hands with the issuance of common and Series 'A' Preferred stock. EV Hotel's first franchise is set to transform a historic Travelodge in Phoenix into a smart hotel, projected to open in 2023.
- Acquisition of EV Hotel Corp enhances growth potential and market expansion.
- Introduction of innovative technologies may lead to improved operational efficiency and customer satisfaction.
- The first franchise project is expected to attract attention and generate revenue in a historically designated building.
- Completion of the acquisition hinges on financial audits and regulatory approvals, posing potential delays.
- Reverse stock split may dilute existing shares, impacting shareholder value.
- Transitioning to a new operational model may encounter integration challenges.
Insights
Analyzing...
SAN DIEGO, CA / ACCESSWIRE / November 8, 2022 / (OTC PINK:PLPL) - Plandai Biotechnology, Inc. ("Plandai" or the "Company") today announces its entry into an asset acquisition agreement with EV Hotel Corp.
EV Hotel™ developed the world's first proprietary, disruptive hospitality platform called the "smart hotel," which combines technology, automation, IoT, crypto, and NFT with best-in-class service, stylish design, and upscale amenities to deliver a more efficient hotel operation, happier guests, and more streams of revenue. Conditions to the closing of the asset acquisition include both parties completing independent financial audits, and the Company completing corporate actions with the Secretary of State of Nevada and FINRA that will change the name and trading symbol of the Company, along with a reverse split of the Company's common stock, which management plans at 100:1. Afterwards, the transaction will close and the Company will acquire all of the authorized stock and assets in EV Hotel™ in exchange for common stock and all of the Company's Series "A" Preferred stock, resulting in a change of control.
"We plan on leading a revolution in the hotel marketplace via our EV Hotel™ concept," commented Ken Patel, Chairman, and CEO of EV Hotels. "Via our transaction with Plandai, we will achieve public trading status with all the prestige and privileges of being a public company. Our Company focuses on culture and automation of the guest stay experience that is beginning to resonate with business and leisure travelers. Once completed, our newly achieved publicly traded status for our common shares will allow us to better access the public markets for growth capital and will increase our brand awareness."
EV Hotel™ revolutionizes how hotels operate by streamlining the guest experience with thoughtful technologies that eliminate frustrating chokepoints across the guest journey, reimagining the hotel front desk with streamlined check-in from its proprietary EV Smart™ app, automating hotel operations, providing upscale amenities, and building new revenue streams which provides a central control point over the guest experience including room controls, concierge, room service and more. The EV Smart™ app provides an all-in-one solution that provides for a seamless guest experience.
EV Hotel's™ "IoT Smart Rooms" incorporates technologies allowing guests to relay requests directly into hotel service allowing hotel staff to see and respond in real-time, based on device-specific data, automatically providing alerts about problems reducing guest disruptions and out-of-service rooms and eliminating the need for preventative maintenance, saving both labor and equipment costs, all while providing significant energy savings.
Tad Mailander, CEO of Plandai Biotechnologies, Inc., commented, "We have been patient to vet and select a merger candidate that we believe will return value to our shareholders. The patience and hard work of the Plandai team over the last two years brought the Company to a very positive turning point.The Company will diligently complete its conditions to closing. We expect the independent audit of the Company will be completed this week. EV Hotel™ is committed to moving forward diligently with its audit. I expect that to be completed as soon as possible. The Company will update shareholders only through its authorized press releases."
EV Hotel™ operates a franchise model, and its first franchisee is obtaining permits and converting a 63-year-old 114-room Travelodge into Phoenix, Arizona's first-ever smart hotel. It will be a new, cutting-edge hotel in a historically designated building. The design preserves the historic building and transforms it into the city's first fully automated smart hotel with a hip pool that will mirror a trendy Miami-style vibe. EV Hotel™ also features NFT (non-fungible token) artwork that is available for purchase in the hotel's NFT Lobby and in its designer rooms, featuring one-of-a-kind NFT pieces for sale. Each guest owns their rewards via an NFT purchase, which allows them to sell their entire membership - with its rewards intact - to other travelers. EV Hotel™ is the first hospitality brand with integrated cryptocurrencies, with a dedicated Crypto experience center and trading floor backed by CDX and a special Crypto ballroom.
About EV Hotel
EV Hotel is the first crypto and technology hotel brand with over 20 uniquely designed and integrated smart devices in each guest room, controlled by EV Smart Devices and a suite of EV Technology Solutions such as; EV Human; an all-in-one Property Management System, Contactless customer service options, comprehensive Back Office operations software, and EV Smart; a branded smart device functionality and APP. The Company plans to open its EV Hotel in Downtown Phoenix in 2023.
About Plandia Biotechnologies
Plandai Biotechnology, Inc., a Nevada corporation, is a publicly quoted shell company seeking to create value for its shareholders by merging with another entity with experienced management and opportunities for growth.
For more information about EV Hotel™, please visit their website at: https://evaihotels.com/
Contact:
SOURCE: Plandai Biotechnology, Inc.
View source version on accesswire.com:
https://www.accesswire.com/724364/EV-Hotel-Corp-and-Plandai-Biotechnologies-Enter-Into-Asset-Acquisition-Agreement-to-Create-the-Leading-Smart-Hotel-Brand--EV-Hotel-Corp
FAQ
What is the purpose of the acquisition between Plandai and EV Hotel Corp?
What are the key features of the EV Hotel concept?
When is the first EV Hotel scheduled to open?
How will this acquisition impact PLPL shareholders?
What stock symbol will be used after the acquisition?
