Pervasip Corp. (OTCPK:PVSP) will spin-off 100% of its wholly-owned subsidiary, Artizen Corporation, as a separate public company, with an anticipated record date between July 1, 2023, and September 30, 2023. As a result of the spin-off, all Pervasip shareholders of record as of the designated record date shall receive shares in the newly public Artizen in proportion to their ownership in Pervasip. Artizen conducts 100% of Pervasip’s cannabis business segment operations through its Zen Asset Management LLC subsidiary.

The regulatory environment in Washington prevents vertical integration into retail assets. Zen’s independent cultivators cannot acquire dispensary assets to internalize retail revenues that are typically about three times wholesale receipts. Artizen could …

Full story available on Benzinga.com