Alternative Reporting Status Simultaneously qualifies for Reg CF offering increase from $107,000 to $1,070,000
LOS ANGELES, CA, Aug. 21, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE LLC -- Geopulse Exploration, Inc. (OTC PINK: GPLS), DBA Cannco Brands & Development (“Geopulse”), a blockchain-based logistics, trade finance and promotion ecosystem for the cannabis sector, has posted to the OTC Markets website its financial statements for the quarter ended June 30, 2018, the final financial report required to qualify it as an “Alternative Reporting” company on OTC Markets.
The company expects to be designated as “Current Information” as soon as their filing is processed.
Getting to the Current Information designation also allows the Company to expand its current, limited dilution, crowdfunding offering size from $107,000 to $1,070,000.
Geopulse submitted the reviewed financials to the SEC via its registered broker-dealer, StartEngine Capital, and has since expanded its RegCF crowdfund campaign to $1.07M.
The terms of the Reg CF equity offering are $.10 per unit, plus tokenized coin (Canncoin) at a discount to a planned initial coin offering (ICO).
Proceeds will be deployed to advance select products to alpha testing phase and to produce a functional product roadmap, which management expects to deliver within 2018.
About Geopulse, DBA Cannco Brands
Geopulse Exploration, Inc. (OTC PINK: GPLS) develops a blockchain-powered logistics, financial services and promotion platform for the unbanked, early stage and explosive growth U.S. and Canadian cannabis sector. Management is comprised of tech and finance veterans with strong product management experience. Among its assets (or pending acquisitions) are THCFinder.com, 300,000 user geo-finder app for cannabis dispensaries and MMJ medical offices throughout the US; CannCoin, a native token underlying a distributed ledger logistics and financial services ecosystem for cannabis; revenue generating StonerDays.com, an online D2C lifestyle community with 700,000 followers. Cannco Brands intends to provide the cannabis industry with commercial services such as transparent supply chain management, business banking and merchant processing, trade finance, direct-to-consumer engagement solutions.
Safe Harbor Notice
Certain statements contained herein are "forward-looking statements" (as defined in the Private Securities Litigation Reform Act of 1995). Geopulse Exploration, Inc. cautions that statements made in this news release constitute forward-looking statements and makes no guarantee of future performance. Forward-looking statements are based on estimates and opinions of management at the time statements are made. These statements may address issues that involve significant risks, uncertainties, estimates and assumptions made by management. Actual results could differ materially from current projections or implied results. Geopulse Exploration, Inc. undertakes no obligation to revise these statements following the date of this news release.