Connect with us


Greenlane Holdings Inc (NASDAQ: GNLN) Completes Acquisition of Kushco Holdings



Greenlane Holdings Inc (NASDAQ: GNLN) and Kushco Holdings have announced the completion of their merger. The combined company will now operate under the name Greenlane holdings. The merger has brought two leading cannabis ancillary products and service companies together.

Greenlane is one of the largest sellers of premium cannabis accessories, speciality vaporisation products and child-resistant packaging. Kuscho, on the other hand, is the provider of ancillary products and services to the CBD and legal cannabis industry.

More than 99% of the votes cast on the matter were in favour of the merger. Proposals submitted to stakeholders at Greenlane’s annual meeting were also approved.

Kushco shareholders to receive shares from Greenlane

Greenlane shares will continue to trade under the same ticker symbol in the NASDAQ Global market. Each Kushco shareholder will receive 0.3016 of a share from Greenlane for each share held by Kushco on the day of the transaction, August 31. Investors that held Greenlane shares would continue to keep their shares with no adjustment caused by the transaction. Kuscho common shares will stop trading from the day of the transaction.

According to the CEO of Greenlane, Nick Kovacebich, Greenlane is confident in its ability to build the ancillary cannabis company by using the available talent, its size, strategy and scale to take advantage of the opportunities that kay ahead of them. The company’s combined experience of 26 years will place them at the front of the market.

Greenlane hopes the transaction will lead to rapid growth

The merger will strengthen the company’s position as the leading supplier of products and premier consumer brands. It will now offer its consumers an even more diversified and high complementary range of products. 

Greenlane expects to generate $15-$20 million of annual run-rate costs within 24 months of the merger. These synergies will be brought about by the economies of scale seen after the transaction, reduced operating expenses and an optimised distribution network.

The company has over 200 intellectual property articles that will drive innovation on a wide range of product categories. This innovation will be supported by their leading design and development team.

*Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.


Business6 hours ago

CV Sciences Inc. (OTCMKTS: CVSI) Reports 8% Drop In Sales In Q3 2021 Attributable To Regulatory Uncertainty in CBD

Post Views: 7 CV Sciences Inc. (OTCMKTS: CVSI) has announced its third-quarter 2021 financial results for the period ending September...


AuxlyCannabis Group Inc. (OTCMKTS: CBWTF) Reports Net Revenue Growth 95% In Q3 2021

Post Views: 55 Auxly Cannabis Group Inc. (OTCMKTS: CBWTF) has announced its financial results for the third quarter and nine...


Vivo Cannabis Inc. (OTCMKTS: VVCIF) Releases Q3 2021 Net Revenue of $6.2 Million as It Expands Internationally

Post Views: 35 Vivo Cannabis Inc. (OTCMKTS: VVCIF) has released its Q3 2021 operating and financial results for the quarter...

Business7 hours ago

Rubicon Organics Inc. (OTCMKTS: ROMJF) Announces 124% YoY Growth In Revenue in Q3 2021 After Launching New Brands

Post Views: 11 Rubicon Organics Inc. (OTCMKTS: ROMJF) has released its Q3 2021 results ending September 30, 2021, in which...

Business1 day ago

Sugarbud Craft Growers Corp (OTCMKTS: SBUDF) Reports 120% Sequential Revenue Growth in Q3 2021

Post Views: 14 Sugarbud Craft Growers Corp (OTCMKTS: SBUDF) has filed its unaudited consolidated preliminary financial statements for the quarter...

Business1 day ago

Indiva Limited (OTCMKTS: NDAF) Reports 143% YoY increase in Revenue In Q3 2021

Post Views: 47 Indiva Limited (OTCMKTS: NDAF) has announced its operating and financial results for the third quarter ending September...