Company Continues Progress as it Prepares for Uplisting and Regulation A Offering
LOS ANGELES, CA / ACCESSWIRE / May 7, 2019 / BANGI, Inc. (OTC PINK: COBI), a diversified investment vehicle that acquires and leases specialized real estate assets, such as cannabis farms, today announced that it has retained the services of UHY Certified Public Accountants, one of the Top 20 professional services firms in the U.S. and one of the largest accounting firms in the world with over 300 offices across 100 countries.
Effective immediately, BANGI will leverage UHY's expertise and service as it continues its preparation for its uplisting to a senior exchange and a Regulation A offering, which should increase the Company's access to additional growth capital now available through the Jumpstart Our Business Startups (JOBS) Act. The Company's relationship with UHY will also assist BANGI in its continued market traction, transparency, and expansion.
"Engaging a dynamic, highly experienced firm like UHY Certified Public Accountants is a key strategic step in our continued progress toward uplisting to a senior exchange, as well as in our efforts increase our access to capital under the JOBS Act," said Rick Shykora, Interim CEO of BANGI, Inc. "It is also a direct reflection of management's focus on increasing our financial and operational transparency both for our investors as well as our strategic partners. With the imminent ticker and corporate name change to come, I also look forward to transitioning BANGI to its newly appointed CEO, which will be announced soon," concluded Mr. Shykora.
The Jumpstart Our Business Startups (JOBS) Act was signed by President Obama in 2012 to improve access to public capital markets for smaller companies through amendment to several securities laws to ease the process and costs associated with raising capital from the public.
BANGI recently secured a strategic alliance with Transatlantic Real Estate to further strengthen the Company's resources, access to technology, and intellectual capital as it launches its anticipated cannabis real estate acquisition plan. It also signed this year a letter of agreement (LOI) to purchase and leaseback a 38,000 square foot property permitted to grow medical-use cannabis in Michigan. The property is expected to generate an expected combined $750,000 per month upon completion of state cannabis licensing requirements.
For additional information about BANGI, please visit www.bangistock.com.
BANGI (pronounced bon-ghee), which means "marijuana" or "hemp" in the African dialect Swahili is a diversified investment vehicle that acquires and leases specialized real estate assets, such as cannabis farms. Corporation combines hard asset security and long-term appreciation potential. For more information, visit www.bangistock.com.
BANGI, Inc. Forward-Looking Statements
This press release contains statements that the Company believes to be "forward-looking statements" within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than historical facts, including, without limitation, statements regarding the investment offerings and the terms thereof, are forward-looking statements. When used in this press release, words such as we "expect", "intend", "plan", "estimate", "anticipate", "believe", "should", or the negative thereof or similar terminology are generally intended to identify forward-looking statements. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in, or implied by, such statements. Investors should not place undue reliance upon forward-looking statements. The Company disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE: BANGI, Inc.