INDOOR HARVEST CORP. APPOINTS NEW CEO, AND NEW JOINT VENTURE, ACQUISITION WITH FINCANN
NEW CEO and FINCANN: First Transaction As Part of its 2020 Acquisition Venture Plan
AUSTIN, TEXAS, USA, May 11, 2020 /EINPresswire.com/ -- INDOOR HARVEST CORP.APPOINTS NEW CEO, AND NEW
JOINT VENTURE, ACQUISITION
WITH FINCANN
NEW CEO and FINCANN: First Transaction As Part of its 2020 Acquisition Venture Plan
Indoor Harvest Corp. (OTC: INQD) announced progress on, and the first transaction of, the 2020 New Outlook Plan validating Indoor’s approach to leverage Indoor as an attractive venture, merger, technology, partner through its public company platform. Indoor has had success this month in attracting a new CEO and contracting with FINCANN.
Indoor previously announced the Company seeks to market as a publicly trading company, with established auditing, transfer agent, management, market relationships, and shares that trade publicly, and other attributes, to have private companies with revenues, technology, contracts, assets, relationships and or other benefits, integrate with Indoor. The added benefit is a heightened level of interest from a variety of persons and firms in the private sector, leading to the Company to interact with and select, effective immediately, a new Chief Executive Officer, Mr. Leslie Bocskor
FINCANN advises it operates a network of cannabis-friendly U.S.-based financial institutions which service all segments of the multi-billion dollar cannabis industry. FINCANN supports the initial onboarding and due diligence phases to cost-effectively achieve a principal goal: stable, transparent, and simplified banking. Through FINCANN’s growing consortium of financial institutions, marijuana-related businesses (MRBs) in plant-touching and ancillary roles can access basic banking services without complicated workarounds. By obtaining a banking or merchant processing account through FINCANN, business owners no longer need to worry that they’ll lose their bank account or merchant processing services. By opening a bank account through FINCANN, the financial institution knows from the get-go that the business is in the cannabis industry, providing peace of mind for business owners whose accounts have been closed on them all too often, while eliminating the headache of searching for new financial solutions multiple times per year. FINCANN web address: https://fincann.com
The companies in March laid the foundation to now proceed with a Joint Venture and stock exchange deal (and other provisions or agreements), including an Option for Indoor to increase ownership in FINCANN. Indoor will hold 51% owner of the Joint Venture, FINCANN being the other 49% owner. As part of the establishment of the venture, Indoor will contribute a percentage of its issued common stock and FINCANN will do the same, such shares to be held by the JOINT VENTURE. It is anticipated the percentage will be 4.9 percent, up to 9.9 percent. The JOINT VENTURE will issue INDOOR a total of 51 percent of its common stock and issue FINCANN 49 percent of its common stock. The Parties will jointly own JOINT VENTURE and establish a formal business plan and operational protocols to jointly market and pursue business.
About New CEO, Leslie Bocskor
Leslie Bocskor, is the Chairman and founder of Electrum Partners, see below. He is a recognized industry consultant in the legal cannabis area, and interacts with mainstream media often being featured including Forbes, CNBC, The Wall Street Journal and more. He formed Electrum Partners in 2014 and became the founding chairman of the Nevada Cannabis Industry Association (NVCIA). He is an active speaker at industry conferences including the ArcView Group. Leslie began his career at Lehman Brothers and later went on to co-found Mason Cabot, a New York based investment bank focused on emerging technologies and finance. In 2005, he served as Managing Partner with Lennox Hill Partners. Bocskor is courts politicians, industry leaders, and investor firms, who seek out his groundbreaking analysis and insight into the cannabis economy.
About Indoor Harvest:
Indoor Harvest, through its brand name Indoor Harvest®, is focused on leveraging our new 2020 New Outlook Plan, incorporating mergers and acquisitions, and ventures, as part of an M&A/vertical integration strategy, along with pursuing our technology and planning, we developed on Aeroponic Cultivation technology. Primarily, we are looking for targets or partners with synergistic enterprises in the Cannabis and related industry as part of being an integrated consolidation platform offering cannabis, hemp, CBD related companies the opportunity to be part of a bigger play, sharing intellectual capital, technology, access to new capital markets and liquidity for investors. We bring to the table a publicly trading company, with auditing and a variety of market relationships.
About Fincann, See Above
Safe Harbor: This document contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainty, including without limitation, the ability of the Company to successfully implement its turnaround strategy, changes in costs of raw materials, labor, and employee benefits, as well as general market conditions, competition and pricing. Although the Company believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this letter will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as representation by the Company or any other person that the objectives and plans of the Company will be achieved. In assessing forward-looking statements included herein, readers are urged to carefully read those statements. When used in the Annual Report on Form 10-K, the words "estimate," "anticipate," "expect," "believe," and similar expressions are intended to be forward-looking statements.
Vanessa Mazzantini
Investor Relations Contact
+1 512-710-7676
email us here
