Plandai Biotechnologies, Inc. Announces Termination of Asset Acquisition Agreement with EV Hotel, Updates on Status of Independent Audit

Rhea-AI Summary

Plandai Biotechnology, Inc. (OTC: PLPL) has terminated its asset acquisition agreement with EV Hotel Corp. without incurring any penalties. This decision was mutually agreed upon by both parties. Additionally, the Company has completed a two-year independent audit of its financial statements, which will inform future disclosures and ongoing merger efforts. Plandai seeks to generate shareholder value by merging with entities offering growth opportunities.

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SAN DIEGO, CA / ACCESSWIRE / January 4, 2023 / (OTC:PLPL) Plandai Biotechnology, Inc. ("Plandai" or the "Company") announces the termination of its previously announced asset acquisition agreement with EV Hotel Corp., a Georgia corporation. The termination was agreed to by both parties, and the Company incurred no penalties, costs, or liabilities in connection with the termination.

The Company completed its two-year independent audit of its financial statements and will use them as a basis for future disclosures and its continuing merger and acquisition efforts.

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.

Contact:

plandai@protonmail.com

SOURCE: Plandai Biotechnology

View source version on accesswire.com:
https://www.accesswire.com/733839/Plandai-Biotechnologies-Inc-Announces-Termination-of-Asset-Acquisition-Agreement-with-EV-Hotel-Updates-on-Status-of-Independent-Audit

FAQ

What was the reason for Plandai Biotechnology's termination of the asset acquisition agreement with EV Hotel Corp?

The termination was agreed upon by both parties, and Plandai incurred no penalties or liabilities.

What is the significance of the independent audit completed by Plandai Biotechnology?

The independent audit provides a basis for future disclosures and supports the Company's ongoing merger and acquisition efforts.

How does the termination of the acquisition impact Plandai's future plans?

While the termination is a setback, Plandai continues to seek mergers with other entities that present growth opportunities.

What is Plandai Biotechnology's strategy for creating shareholder value?

Plandai aims to create shareholder value by merging with firms that have experienced management and potential for growth.