SAN DIEGO, California—Plandai Biotechnology, Inc. announced a “change of control” stock purchase agreement with EV Hotel Corp. and its founder Ken Patel with Plandai acquiring EV Hotel Corp. at the closing.
EV Hotel developed a hospitality platform called the “smart hotel,” which combines technology, automation, IoT, crypto (crypto trade-floor), and NFT (guestrooms/lobby) with service, design, and amenities to deliver streamlined hotel operations with guest satisfaction to enhance streams of revenue. Conditions of the closing include both parties completing independent financial audits, a third-party valuation of EV Hotel Corp., and Plandai completing corporate actions with the Secretary of State of Nevada and FINRA that will change the name and trading symbol of the company, along with a reverse split of the company’s common stock. Upon closing, Plandai will acquire the authorized stock and assets in EV Hotel in exchange for common stock and Patel will acquire all of the company’s Series “A” Preferred stock, resulting in a change of control.
“We plan on driving an evolution in the hotel marketplace via our Evolution Venue Hotel (EV Hotel) concept,” commented Ken Patel, chairman, and CEO of EV Hotels. “Via our transaction with Plandai, we will achieve public trading status with all the prestige and privileges of being a public company. Our company focuses on culture and technology for the guest stay experience that resonates with modern travelers. It creates a less task-driven system for our employees. Once achieved, our publicly traded status for our common shares will allow us to better access the public markets for growth capital and will increase our global brand awareness. This is all about revolutionizing the hospitality industry and providing a better future for our employees and guests”
The EV Human app updates how hotels operate and the guest experience with technologies that eliminate frustration across the guest journey, changes the hotel front desk with check-in from its EV Smart app, automates hotel operations, provides upscale amenities, and enhances new revenue streams. EV Hotel provides a control point over the guest experience including room controls, concierge, room service, and more. The EV Smart app provides control over 20 smart devices for each guestroom. EV Hotel’s “IoT Smart Rooms” incorporates technologies allowing guests to relay requests directly to hotel service, allowing hotel staff to see and respond in real-time, based on device-specific data, automatically providing alerts about problems, reducing guest disruptions and out-of-service rooms, and eliminating the need for preventative maintenance, saving both labor and equipment costs while providing significant energy savings.
Tad Mailander, CEO of Plandai Biotechnologies, Inc., commented, “We have been patient to vet and select a merger candidate that we believe will return value to our shareholders. We think the patience and hard work of the Plandai team over the last two years brought the company from its abandonment to a very positive turning point. The company will diligently complete its conditions to closing. We expect the independent audit of the company will be completed this week. EV Hotel is committed to moving forward diligently with its audit. I expect that to be completed as soon as possible. The company will update shareholders only through its authorized press releases.”
EV Hotel operates a franchise model, and its first franchisee is converting a 63-year-old landmark hotel into Phoenix, Arizona’s first smart hotel that will have 114 guestrooms. EV Hotel also has NFT (non-fungible token) artwork that is available for purchase in the hotel’s NFT Lobby and in its rooms with NFT pieces for sale. Each guest owns their rewards via an NFT purchase, which allows them to sell their entire membership with its rewards intact to other travelers. EV Hotel is the first hospitality brand with integrated cryptocurrencies, with a crypto experience center and trading floor backed by TenX.