EV Hotel Corp. and Plandai Biotechnologies Sign Merger Transaction to Create Smart Hotel Brand EV Hotel Corp.
Plandai Biotechnology, Inc. ("Plandai" or the "Company") announced a “change of control” stock purchase agreement with EV Hotel Corp. and its founder, Ken Patel with EV Hotel Corp. being acquired by Plandai at the closing.
EV Hotel™ developed a proprietary, disruptive hospitality platform called the "smart hotel," which combines technology, automation, IoT, crypto (crypto trade-floor), and NFT (guest rooms/lobby) with first-in-class service, stylish design, and upscale amenities to deliver a more efficient streamlined hotel operations with exceptional guest satisfaction to further enhance streams of revenue. Conditions to the closing of the include both parties completing independent financial audits, a third-party valuation of EV Hotel Corp™ and the Company 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, which management plans at 100:1. Upon closing, the Company will acquire all of the authorized stock and assets in EV Hotel™ in exchange for common stock and Mr. 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.”
With the EV Human app, we revolutionize how hotels operate by streamlining the guest experience with thoughtful technologies that eliminate frustrating chokepoints across the guest journey, reimagining the hotel front desk with streamlined check-in from its proprietary EV Smart™ app, automating hotel operations, providing upscale amenities, and enhances new revenue streams. EV Hotel provides a central control point over the guest experience including room controls, concierge, room service and more, and the EV Smart™ app provides an all-in-one control over 20 uniquely designed and integrated smart devices for in each guest room.
EV Hotel's™ "IoT Smart Rooms" incorporates technologies allowing guests to relay requests directly into 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, all 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 historical landmark hotel into Phoenix, Arizona's first-ever smart hotel that will have 114 guest rooms. It will be a new, cutting-edge hotel in a historically designated building. The design preserves the historic modern architecture and transforms it into the city's first fully automated smart hotel with a hip modern pool that will mirror a trendy Miami-style vibe. EV Hotel™ also features NFT (non-fungible token) artwork that is available for purchase in the hotel's NFT Lobby and in its designer rooms, featuring one-of-a-kind 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 dedicated Crypto experience center and trading floor backed by TenX, a Chicago based crypt exchange, and a special Crypto ballroom with a chef inspired restaurant.