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. 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.
