Premier Information Management Inc (OTCPink: PIFR) closed at $0.0700 on Friday, up 52.17 percent. PIFR stock has traded in a day range of $0.0618 to $0.1100. The Premier Information stock recorded a gain of 12566.67% in the past 12 months with a 52-week high of $0.1100 and over $4.12M in market capitalization. As a result of the reverse merger news, the PIFR stock surged.
Reverse merger in brief:
It was announced on Friday that Premier Information had entered into a reverse merger agreement with Cannabinoid Biosciences, Inc. Latest information on this strategic move, along with other pertinent things provided by PIFR is as follows:
- A newly formed management team and an entirely new management infrastructure were the result of this reverse merger.
- As part of this transaction, no reverse split will take place, so current shareholders will not lose their positions, thus protecting the value of their existing investments.
- At the moment, the CBDX team consists of four key individuals with plans to ramp up as targeted acquisitions are rolled out.
- The share structure at OTC Markets is current as of past Friday.
- In addition to maintaining the company’s pink status on OTC Markets, this move will also require updating the company’s public disclosures.
- Following the appropriate time frame, the company will change its name and ticker symbol.
Why PIFR issued a press release?
Because Premier Information (PIFR) and Cannabinoid Biosciences both believe that the reverse merger agreement will work, the companies decided that a simple press release would be helpful. PIFR’s press release also clarifies recent inquiries about its long-term future.