Plandai Biotechnology ($PLPL) announces its entry into an asset acquisition agreement with EV Hotel Corp

Yesterday, Plandai Biotechnology, Inc (OTC US:PLPL) announced its entry into an asset acquisition agreement with EV Hotel Corp.

As per the press release, 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.

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.

To know more about PLPL, please click on the video below

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Some of the most active stocks on Wall Street include Taskus Inc (NASDAQ: TASK), NeoGenomics Inc (NASDAQ:NEO), GrowGeneration Corp (NASDAQ:GRWG). Looking at the hotel stocks, Marriott International, Inc. (NASDAQ:MAR), Hilton Worldwide Holdings Inc. (NYSE:HLT), and MGM Resorts International (NYSE:MGM) seems to be more popular among hedge funds.


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