Couldn't agree more. Maybe a tweet here and there just to let us know he is thinking of us. Absolutely no more pr without awesome news. And he should definitely not be writing any of the pr's. And please title the pr like such, "pleased to announce acquisition.. Reverse merger.. Mj Colorado...) as long as those details are part of the deal.
He needs to hire a PR firm to write his PRs for him. If he knowingly admits that he sucks at writing PRs then...
You mitigate your own weakness by utilizing others that are strong in yiur weak areas in business, medicine, or almost any discipline.
Right now -- shutting it down and going silent is a terrible idea. He needs to sit down with someone skilled in PR construction and draft a clear statement addressing the status of the company and its current situation. Knowing your audience helps too.