Plandai Biotechnologies, Inc. Announces Entry into Non-Binding Letter of Intent, Updates on Status of Independent Audit

Rhea-AI Summary

Plandai Biotechnology (OTC PINK: PLPL) announced a non-binding letter of intent with EV Hotel Corp. to merge, as part of its strategy to enhance shareholder value. EV Hotel is recognized for its innovative hospitality platform, defining a new standard in hotel management through automation, IoT, and crypto integration. Their franchise model has commenced with a conversion of a Travelodge in Arizona into a smart hotel. Plandai is finalizing an independent two-year audit, a critical step towards completing this merger, aimed at driving growth and operational excellence.

Positive

• Entry into a non-binding letter of intent with EV Hotel Corp. could enhance growth opportunities.
• The merger may lead to innovative advancements in the hospitality sector through EV Hotel's smart technology.
• Plandai's pending independent audit may strengthen its operational framework.

Negative

• None.

SAN DIEGO, CA / ACCESSWIRE / October 6, 2022 / (OTC PINK:PLPL) - Plandai Biotechnology, Inc. ("Plandai" or the "Company") announces its entry into a non-binding letter of intent with EV Hotel Corp., a Georgia corporation. EV Hotel™ developed the world's first proprietary disruptive hospitality platform - the "smart hotel," combining 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.

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.

EV Hotel™ operates a franchise model and it's 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 feature 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.

The Parties are conducting due diligence with the intent to finalize a material definitive agreement outlining terms and conditions. Plandai expects its independent two-year audit to be finalized very soon and will form the basis for its operations going forward.

Commenting on the letter of intent, Mr. Ken Patel, Chairman and CEO of EV Hotels stated: "Great things in business are never done by one person; they're done by a team of people. Innovation is a team sport. We are excited to see the future of hospitality have an innovative mindset and EV Hotel is leading the revolution."

Plandai's CEO, Tad Mailander, concurred, stating "we have worked tirelessly to locate a suitable merger candidate for Plandai to return value to its shareholders. With our sights now focused on completing our due diligence work with EV Hotel™, I am confident that we will finalize a transaction worthy of the commitment and confidence our shareholders have placed in the whole Plandai team."

About:

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:

plandai@protonmail.com

SOURCE: Plandai Biotechnology

View source version on accesswire.com:
https://www.accesswire.com/719127/Plandai-Biotechnologies-Inc-Announces-Entry-into-Non-Binding-Letter-of-Intent-Updates-on-Status-of-Independent-Audit

FAQ

What is the recent announcement by Plandai Biotechnology regarding PLPL?

Plandai Biotechnology announced a non-binding letter of intent to merge with EV Hotel Corp., focusing on enhancing shareholder value.

How does EV Hotel Corp. influence Plandai Biotechnology's future?

EV Hotel Corp. brings innovative hotel management solutions which may drive growth and operational advancements for Plandai.

What are the key features of EV Hotel's hospitality platform?

EV Hotel's platform incorporates automation, IoT, and cryptocurrency, aiming to streamline guest experiences and hotel operations.

When is Plandai Biotechnology's independent audit expected to be finalized?

Plandai anticipates the completion of its independent two-year audit soon, which will inform its future operations.