Zoned Properties Inc. Elects David G. Honaman as a Member of the Board
September 27, 2016 at 08:01 am EDT
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On September 26, 2016, the Board of Directors of Zoned Properties Inc. announced the establishment of an audit committee, the expansion of the company's board of directors to five members. Also on September 26, 2016, in order to fill the Board vacancy created by the increase in the size of the Board, the Board elected David G. Honaman as a member of the Board until the next annual election of directors and until his successor is duly elected and shall qualify. Mr. Honaman will act as chair of the company's newly established audit committee. The Board has determined that Mr. Honaman qualifies as an independent director under the rules of The Nasdaq Stock Market.
Zoned Properties, Inc. is a technology-driven property investment company focused on acquiring value-add real estate within the regulated cannabis industry in the United States. The Company is in the business of property acquisition, development, and commercial leasing and intends to primarily structure lease agreements with prospective tenants using a triple-net or absolute-net lease model. Its segments include Property Investment Portfolio and Real Estate Services. The Property Investment Portfolio segment is engaged in the operations, leasing and management of its commercial properties. The Real Estate Services segment provides advisory, brokerage and technology services related to commercial properties. The Company maintains a portfolio of properties that it owns, develops and leases. Its investment properties are located in Arizona, Illinois, and Michigan with 100% occupancy and a weighted average lease term over 10 years. It has approximately 47 acres in Chino Valley, Arizona.
ZONED PROPERTIES, INC. 
