More Than 97% of Votes Cast Voted “FOR” Approval of the Proposed Merger
CYPRESS, CA / ACCESSWIRE / August 26, 2021 / KushCo Holdings, Inc. (OTCQX:KSHB) (“KushCo” or the “Company”), a premier provider of ancillary products and services to the legal cannabis and CBD industries, today announced that its stockholders overwhelmingly voted to approve the merger agreement with Greenlane Holdings, Inc. (“Greenlane”) (NASDAQ:GNLN) at the special meeting of stockholders held earlier today, with over 97% of votes cast voted in favor of the proposal. The Company intends to file with the Securities and Exchange Commission a Current Report on Form 8-K disclosing the final voting results.
Pursuant to the terms of the merger agreement, KushCo will become a wholly-owned subsidiary of Greenlane in an all-stock, tax-free business combination.
“Our stockholders have spoken loud and clear that they overwhelmingly support this merger,” Nick Kovacevich, KushCo’s Co-founder, Chairman and Chief Executive Officer. “We believe they recognize the opportunity for us to create one of the industry’s leading ancillary companies, with the right size, scale, strategy, and talent to capitalize on the significant growth opportunities ahead of us.”
While we are thrilled about achieving this milestone and receiving such a strong stamp of approval from our stockholders, we are committed to finalizing our integration planning process with our friends at Greenlane to ensure the best possible start as a combined company.
Nick Kovacevich, KushCo’s Co-founder, Chairman and Chief Executive Officer
On behalf of the entire organization, I am proud of the progress we have made over the past decade and look forward to starting this new decade on the front foot-one in which we strive to be defined by enhanced value for our customers, accelerated growth, stronger profitability, and increasing returns for our stockholders.
In conjunction with the Company’s special meeting of stockholders, Greenlane’s stockholders also voted earlier today to approve the merger with KushCo.
About KushCo Holdings, Inc.
KushCo Holdings, Inc. (OTCQX:KSHB) (www.kushco.com) is a premier provider of ancillary products and services to the legal cannabis and CBD industries. KushCo Holdings’ subsidiaries and brands provide product quality, exceptional customer service, compliance knowledge and a local presence in serving its diverse customer base, which consists of leading multi-state operators (MSOs), licensed producers (LPs), and brands.
Founded in 2010, KushCo Holdings has now sold more than 1 billion units to growers, brand owners, processors and producers across North America, South America, and Europe, specializing in child-resistant compatible and fully customizable packaging, exclusive vape hardware and technology, and complementary solvents and natural products.
As a pioneer in the industry, KushCo continues to work to create a positive impact on the environment, society, and community through CSR and ESG initiatives, such as: offering sustainable and compostable packaging; donating PPE supplies to healthcare workers on the frontline fighting the COVID-19 pandemic; partnering with organizations such as Mission Green to offer social equity programs for industry inclusion; being one of the first in the industry to award paid time-off for all employees on November 3, 2020 (“Election Day”); and working to incorporate industry-leading corporate governance practices and a more diverse board makeup.
For more information on KushCo’s commitment to CSR and ESG initiatives, please visit the Company’s #KushCares page at www.kushco.com/kushcares.
KushCo has been featured in media nationwide, including CNBC, Fox News, Yahoo Finance, Cheddar, Los Angeles Times, TheStreet.com, and Entrepreneur, Inc Magazine. For more information, visit www.kushco.com or call (888) 920-5874.
No Offer or Solicitation
This communication is not intended to and shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote of approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act.
Original press release