Cannagistics, Inc., Closes Acquisition of The Integrity Wellness Group, Inc.

Rhea-AI Summary

Cannagistics, Inc. (OTC PINK:CNGT) has completed the acquisition of The Integrity Wellness Group, Inc. from Availa Bio, effective July 1, 2021. The company aims to pivot from a logistics-focused business to health and wellness products. Leadership includes Rob Gietl as President, Jim Morrison as Chairman, and Dr. Babak Ghalili as Chief Science Officer. The Integrity Wellness Group boasts a diverse product portfolio, including FDA-cleared and patented items. The company is also applying for an OTCQB listing to enhance its market presence.

Positive

• Acquisition of The Integrity Wellness Group diversifies Cannagistics' product offerings.
• The leadership team has significant experience in health and wellness, potentially driving growth.
• Plans to apply for an OTCQB listing may increase visibility and credibility in the market.

Negative

• Transition to a new business focus may pose integration challenges.
• The acquisition involves a significant shift that may require substantial resources.

HAUPPAGUE, NY / ACCESSWIRE / November 12, 2021 / Cannagistics, Inc. (OTC PINK:CNGT) (the "Company" or "Cannagistics") announces that has closed a transaction, as of July 1, 2021, whereby it has acquired The Integrity Wellness Group, Inc., (formerly known as Cannaworx Holdings, Inc.) from Availa Bio, Inc. in exchange for controlling interest in the newly reorganized public entity, to be known as The Integrity Wellness Group, Inc. We have applied for the name change and symbol change, in accordance with the rules of SEC and FINRA.

Rob Gietl will remain as President and as a Director of the Company. Joining the Board of Directors of the Company will be Jim Morrison, as Chairman of the Board of Directors, and Dr. Babak "Bobby" Ghalili, as a Director and Chief Science Officer of the Company.

Rob Gielt is an expert in the fields of health and wellness. Through his tenure as CEO of two public companies in the CBD and Hemp area he has extensive experience dealing with the development and marketing of health and wellness items utilizing a peptide extracted from natural source as the raw ingredient to help develop numerous finished products by adding to various proprietary formulations to bring to market in the health & wellness, cosmetic and pet sectors.

Jim Morrison was previously President of L'Oréal for 9 years, he acquired Redken and Matrix and led a top-line growth average above 20%. As CEO, he headed the first celebrity-driven video shopping app in partnership with SPRINT; Graham Webb, one of the most successful startups in hair care; and Sexy Hair Concepts for four years.

Dr. Babak "Bobby" Ghalili, DMD, is one of the foremost periodontal and reconstructive dental surgeons in the field, he is an Associate Professor of Periodontal Surgery at New York University and the University of Medicine and Dentistry of New Jersey. Dr. Ghalili is a graduate of Brandeis University, Tufts University, and UMDMJ, and author of 21 patents (6 awarded patents and 15 patent pending).

James W Zimbler, as part of the transition and appointment of new members of the Board, will resign from the Board of Directors and remain as Vice-President of Operations/Compliance of the company.

The Integrity Wellness Group, Inc., (formerly Cannaworx Holdings, Inc.) has developed an extensive portfolio of consumer products, which include FDA cleared, patented/ patent pending diverse product lines, that capitalize on disruptive delivery systems in the areas of pain relief, pharmaceuticals, skincare, nutraceuticals and agricultural/veterinary products.

Rob Gielt the President and CEO of CNGT (Integrity Wellness), said, "I am very much looking forward to working with this eclectic group of extremely qualified individuals, backed by science, and years of working with health and wellness products. I am excited to be using my skill set in marketing to advance the development and promotion of the many products of this company."

The Company is working to apply for a listing on OTCQB.

As of August 30, 2021, the Company relocated to:

150 Motor Parkway
Suite 401
Hauppauge, NY 11787
631-787-8455

About Cannagistics, Inc.: Cannagistics, Inc. is a Delaware corporation, publicly traded company. Previously our business was as a technology and software-based logistics company, engaged on the digital supply chain logistics business, however we are now pivoting into the development, marketing and sale of health and wellness products.

The Company currently trades on the OTC Markets under the symbol "CNGT."

FORWARD LOOKING STATEMENTS

The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.

For more information, contact:

CANNAGISTIC, INC.
Rob Gietl, President and CEO
631-787-8455

SOURCE: Cannagistics, Inc.

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FAQ

What is the significance of Cannagistics' acquisition of The Integrity Wellness Group?

The acquisition allows Cannagistics to expand its portfolio into health and wellness products, potentially increasing revenue streams.

Who are the key members of Cannagistics' management after the acquisition?

Rob Gietl remains as President; Jim Morrison joins as Chairman, and Dr. Babak Ghalili serves as Chief Science Officer.

What products does The Integrity Wellness Group offer?

The Integrity Wellness Group has developed FDA-cleared and patented products in pain relief, pharmaceuticals, and skincare.

When was the acquisition of The Integrity Wellness Group finalized?

The acquisition was completed on July 1, 2021.

What is Cannagistics' trading symbol?

Cannagistics trades on the OTC Markets under the symbol CNGT.