Cannagistics, Inc., Gives Corporate Update and Defines New Strategy

Rhea-AI Summary

Cannagistics, Inc. (OTC PINK:CNGT) continues to develop its logistics software platforms, Global3pl and AFX, focusing on a North American supply chain initiative. The company aims to enhance efficiency in logistics, including forward and reverse supply chain management, e-commerce fulfillment, and last-mile delivery by leveraging multiple digital platforms. Plans to partner with supply chain providers are expected to materialize, with details to be shared in Q4 2020 and Q1 2021.

Positive

• Development of multiple logistics software platforms is in the final stage.
• Focus on North American supply chain initiative could enhance market reach.
• Potential partnerships and operational expansion planned for 2021.

Negative

• Forward-looking statements indicate uncertainty regarding execution timelines.
• Dependence on partnerships for operational success could pose risks.

HAUPPAUGE, NY / ACCESSWIRE / November 11, 2020 / Cannagistics, Inc. (OTC PINK:CNGT) (the "Company" or "Cannagistics") announces that is continuing its development of the Global3pl and AFX (American Freight Xchange) Freight Logistics Supply Chain software platforms. The Company has decided to focus on a total North American global supply chain initiative with Corporate offices in Vancouver, British Columbia, and Hauppauge, New York.

Along with the current software and SAAS platforms being developed by the Company (such as Global3pl, AFX, and our UrbanX platform), that are all in the final stage of development, negotiating with a total supply chain provider that focuses on forward logistics, reverse supply chain/logistics (consumer returns), e-commerce fulfillment, recovery and inventory asset management. All of these services focus on the total global supply chain for manufacturers, distributors, retailers, and wholesalers as well as e-commerce and e-tailers in the fulfillment and ultimate "last mile" supply of goods.

Our plan is for the logistical supply chain eco-system using our multiple digital platforms will help all of the manufacturers, distributors, wholesalers, retailers, e-commerce, and e-tailer providers gain maximum efficiency with the management of their inventories, sales returns management (reverse-logistics), and the ultimate "last-mile" delivery to the consumer.

The Company is exploring these multiple options and will outline plans for any execution or transaction with any new providers, or potential new partners in the upcoming weeks, as the information becomes available. With the Company in our new endeavors, the planned outcome would be the Company would have operations with locations predominantly in the United States and Canada in the coming year of 2021.

If these discussions materialize and reach a mature stage, further details and financing plans would be released in the 4^th Quarter of 2020 and would expect to be executed in the 1^st Quarter of 2021. Further details will be released as appropriate.

About Cannagistics, Inc.: Cannagistics, Inc. is a Nevada based, technology and software-based logistics company engaged in the digital supply chain logistics business.

The company trades on the OTC Markets under the symbol "CNGT."

Cannagistics has the following websites:

www.cannagistics.io

www.global3pl.io

afxlogisticsgroup.com

urbanxnetwork.com

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
631-676-7230

SOURCE: Cannagistics, Inc.

View source version on accesswire.com:
https://www.accesswire.com/615893/Cannagistics-Inc-Gives-Corporate-Update-and-Defines-New-Strategy

FAQ

What is Cannagistics, Inc.'s plan for its logistics platforms in 2021?

Cannagistics plans to finalize and launch its Global3pl and AFX logistics software platforms, focusing on North American operations.

What is the stock symbol for Cannagistics, Inc.?

The stock symbol for Cannagistics, Inc. is CNGT.

When can we expect more information on Cannagistics' new partners?

Further details regarding Cannagistics' partners and operational plans are expected to be announced in the 4th Quarter of 2020.

What services will Cannagistics' logistics platforms provide?

Cannagistics' logistics platforms will include forward logistics, reverse supply chain management, e-commerce fulfillment, and inventory asset management.