TORONTO--(BUSINESS WIRE)--Cannagistics, Inc (OTCMarkets: “CNGT”) (the “Company” or “Cannagistics”) announced that the Board of Directors has approved the registered spinout of its Global3pl, Inc., (a New York corporation) (“Global3pl”) subsidiary. Global3pl is to be a logistics technology provider, along with the American Freight Xchange and Urtbanx Platforms that have been under development by the Company.
The Board of Directors has also declared a stock dividend for all shareholders, with a record date of October 10, 2019. For every 50 shares of common stock of the Company, all shareholders of record on the record date will receive one share of common stock in Global3pl. Global3pl will also file a registration statement as part of its raise of capital to complete the development of American Freight Xchange, a North American freight broker-driven 3pl network to handle the management of long haul LTL (less than truckload), and specialty freight (white glove) services and Urbanx, a North American network of rush-messenger local trucking services for forward and reverse last mile delivery (including white glove service).
James Zimbler, President of Cannagistics stated, “We have been in development of our logistical platforms for some time, and we have decided to partner I2MEDIALAB (a subsidiary of Inicia Incorporated) a tried-and-true logistical software development company with a deep background in logistics operations for development and post launch support. This partnership will develop and build a filly optimized Global3pl eco-system with American Freight Xchange and Urbanx as part of the SAS platform. This gives our shareholders a second company to believe in, as Cannagstics gets ready to close the transaction with Unified Cannabis.”
About Cannagistics: Cannagistics is a Nevada based, cannabis-based logistics company with an operating entity in Mississauga, Ontario, along with a joint venture partnership that gives access to the necessary licenses for CBD delivery as well as license and distribution agreements for intellectual property as developed by Dr. Babak “Bobby” Ghalili, the company’s Medical Director.
The company trades on the OTC Markets under the symbol “CNGT.”
Cannagistics has the following websites:
FORWARD LOOKING STATEMENTS
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