Cannagistics Inc (CNGT)

[J0L]

I was reading though PBIO’s annual report and saw the below description in the Overview section. No mention of continuing efforts of the possible Cannaworx/Availa merger...but they do state ongoing collaborative efforts on developing UST applications for use in Cannaworx’s products. Hmmm, I like the sound of this! Seriously can’t wait for CNGT to share NOVI developments...


“On April 29, 2020, we entered into a binding letter of intent to merge with Cannaworx Holdings, Inc. (Cannaworx), and their portfolio of products and intellectual property (the “Cannaworx LOI” and “Cannaworx merger”). Post-merger, certain Cannaworx products were expected to utilize our proprietary UST platform. Throughout the course of 2020, we entered into four amendments to the Cannaworx LOI, with the last amendment making the LOI mutually non-exclusive and extending the deadline to January 30, 2021 after which it expired. On June 12, 2020, we entered into a one-year Collaboration Agreement with Cannaworx and its parent company, Availa Bio, Inc. on developing UST applications for prospective use in Cannaworx’s products. All parties remain actively engaged in this collaborative effort.”