Thermal Tennis, Inc. Enters into Merger Agreement with CannaSys, Inc.
Thermal Tennis, Inc. (“Thermal Tennis”) (OTC: TTNS), a Nevada corporation that focuses on the development of tennis management and training programs announced today that it has entered into an agreement and plan of merger (the “Merger Agreement”) with CannaSys, Inc. (“CannaSys”), a Colorado corporation that provides innovative marketing solutions for the growing medical and recreational cannabis industry. Under the terms of the Merger Agreement, a wholly owned subsidiary of Thermal Tennis merged with and into CannaSys which then became a wholly owned subsidiary of Thermal Tennis. All of CannaSys’s outstanding common stock was converted into shares of common stock of Thermal Tennis. On the closing of the Merger, the shareholders of Thermal Tennis retained an aggregate of 4,398,088 shares or 42.3% of Thermal Tennis’s common stock, and the CannaSys’s shareholders acquired 6,000,000 shares or 57.7% of the common stock for a total of 10,398,088 shares of common stock issued and outstanding.