Pervasip Corp. Cancels One Billion Shares of Common Stock

Granada Hills, California--(Newsfile Corp. - July 9, 2021) - Pervasip Corp. (OTC Pink: PVSP) (the "Company") announced today that it has completed the cancelation of one billion shares of common stock.

The Company had issued one billion shares in conjunction with the purchase of an entity known as Plaid Canary Corp. However, the purchase was rescinded and the certificate for one billion shares that had been printed was lost. Upon receipt of medallion guaranteed stock powers and indemnifications, the Company's transfer agent was able to cancel the one billion share certificate and remove it from the issued shares.

"We are pleased to see our outstanding common stock decrease by one billion shares, a reduction of almost 20%," said Paul Riss, the Chief Executive Officer of the Company. "We are eager to focus on the business going forward, our pending acquisition of Artizen, and the psilocybin and CBD research from our affiliate, Kaiyon Biotech Inc."

About Pervasip Corp.

Pervasip Corp. is a developer of companies and technologies in high-value emerging markets. It owns a minority position in Kaiyon Bioptech Inc., which focuses on CBD and psilocybin research, primarily in South Korea. Pervasip is currently pursuing the acquisition of Artizen Corporation, which generates revenues by providing leasing, licensing, management, staffing, and supplies to cannabis production facilities. Artizen specializes in commercial indoor growing, with state-of-the-art water filtration and heating systems and light technology that allows for high levels of photosynthetic energy. For more information please visit the website http://www.artizencannabis.com.

Please email Investor Relations with any questions at info@pervasip.net or call 855-464-2535 extension 1.

The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Forward-looking statements include those that use forward-looking terminology, such as the words "anticipate," "believe," "estimate," "expect," "intend," "may," "hope'" "project," "plan," "will," "shall," "should," and similar expressions, including when used in the negative. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/89827

info