Cannagistics, Inc., Corporate Update

Rhea-AI Summary

Cannagistics, Inc. (OTC PINK:CNGT) reappointed James W. Zimbler as President/CEO and Chairman to lead a rebranding initiative for its health and wellness products under the new brand, Wholistic Company. The company plans to withdraw a previously filed offering and abandon plans for a name change and reverse stock split. Zimbler expressed optimism about this transition with support from Jim Morrison and Emergent Health Corp. The company develops consumer products focusing on pain relief, pharmaceuticals, and skincare, trading under the symbol CNGT.

Positive

• James W. Zimbler reappointed as President/CEO, indicating leadership stability.
• Launch of a rebranding initiative for health and wellness products could enhance market presence.
• Withdrawal of stock offering and reverse split plans may prevent potential dilution of shares.

Negative

• None.

HAUPPAUGE, NY / ACCESSWIRE / August 23, 2022 / Cannagistics, Inc. (OTC PINK:CNGT) (the "Company" or "Cannagistics") through action of its Board of Directors and its controlling shareholder Regen Biowellness, Inc., recently reappointed James W. Zimbler as President/CEO and Chairman of the Company. Jim Morrison remains a Director of the Company.

Mr. Zimbler will guide the Company, with the assistance and guidance of Jim Morrison and his team at Regen Biowellness and its new parent company Emergent Health Corp. (OTCPink "EMGE") in the effort to rebrand and relaunch the entire line of health and wellness products and intellectual property of the Integrity Wellness group of products under a new brand called the Wholistic Company.

In addition to this rebranding and relaunching of the products, the Company has also decided to withdraw the previously filed offering on Form 1-A with the Securities and Exchange Commission. The Company has also advised FINRA that is determined that it was in the best interest of the Company to not proceed with its previously announced plan to rename the company and effectuate a reverse split of the common stock of the Company.

James W Zimbler, CEO of the Company, state, "I am excited to lead the charge of the rebranding initiative of our products, and with the help and guidance of Jim Morrison, a leader in the personal care marketing industry, I think that the Company has an exciting opportunity."

About Cannagistics, Inc.: Cannagistics, Inc. is a Delaware corporation, publicly traded company that operates its subsidiary, The Integrity Wellness Group, Inc., (formerly Cannaworx Holdings, Inc.) which 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.

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.
James W. Zimbler, President/CEO
631-787-8455

SOURCE: Cannagistics, Inc.

View source version on accesswire.com:
https://www.accesswire.com/713049/Cannagistics-Inc-Corporate-Update

FAQ

Who was reappointed as President/CEO of Cannagistics on August 23, 2022?

James W. Zimbler was reappointed as President/CEO of Cannagistics on August 23, 2022.

What new brand will Cannagistics use for its health and wellness products?

Cannagistics will rebrand its health and wellness products under the new brand called Wholistic Company.

What significant corporate actions did Cannagistics take regarding its stock on August 23, 2022?

Cannagistics decided to withdraw a previously filed offering and will not proceed with a planned name change or reverse stock split.

What is the stock symbol for Cannagistics?

The stock symbol for Cannagistics is CNGT.