Launch of New Division Marks the Successful Integration of the Summit Innovations Acquisition
GARDEN GROVE, Calif., Aug. 08, 2018 (GLOBE NEWSWIRE) -- Kush Bottles, Inc. (OTCQB: KSHB) (“Kush Bottles” or the “Company”), a leading provider of packaging, supplies, vaporizers, hydrocarbon gases, solvents, accessories and branding solutions for the regulated cannabis industry, announced today that it has launched Kush Energy, a new division focused on supplying the cannabis industry with tested, high quality solvents and hydrocarbons, which are essential in the extraction process for the production of products including oils, edibles and waxes.
The Company acquired Summit Innovations in May of 2018, and now, with the launch of Kush Energy, has successfully completed a full integration.
Kush Energy will focus on servicing the rapidly growing concentrates category, which in many primary cannabis markets now account for nearly half of all sales. Kush Energy will operate eight hazmat compliant distribution facilities across the country, including a new location in Humboldt County in Northern California. Kush Energy’s core products are high purity butane, propane, iso-butane, ethanol, dry-ice and blends. The new division will also work closely with cannabis manufacturers and extraction facilities to ensure cleanliness, product quality, reliable supply, safety, and compliance during the extraction process.
“This is yet another example of our successful strategy of purchasing complementary businesses, integrating them into the Kush Bottles platform, and then driving significant organic growth,” said Nick Kovacevich, CEO of Kush Bottles. “Cannabis extraction is an ultra-high growth segment of the legal cannabis industry, and we have diversified our offering to capture reoccurring revenues from this demographic with many products - hydrocarbons and solvents being the most recent additions. Kush Energy’s customers also utilize our other product lines such as packaging and vaping equipment allowing a great cross-selling scenario. We expect this new division to make a major impact on our total company revenues and gross margins.”
Anthony Pham, Vice President and General Manager of Kush Energy has been tapped to lead this new team. Mr. Pham comes to Kush Energy with extensive industry experience. He was previously with Airgas, a leading U.S. distributor of industrial, medical and specialty gases, for almost six years leading sales and operations of a $50m specialty unit. Prior to that he led sales and operations for a business unit of a privately held industrial distribution company and helped grow that business from $35m to $200m. There, he was responsible for opening numerous facilities across the country, creating standard operating procedures and compliance for local and federal regulations. Mr. Pham has a BSBA in Management from New York Institute of Technology and an MBA from University of North Carolina’s Kenan-Flagler Business School.
“Kush Energy will provide strategic vertical diversity to the Kush brand and is already well positioned for aggressive growth while maintaining great customer service,” said Mr. Pham. “The rise in popularity of oils and extracts are driving the future of the cannabis industry - making ultra-high purity gas an essential aspect of our customers’ businesses. Now, with our eight distribution points for gas and solvents, we have the ability to more easily and efficiently serve the needs of our customers, alleviating their worries about running out of product and allowing them to focus on running their businesses.”
To be added to the distribution list, please email ir@kushbottles.com with “Kush” in the subject line.
About Kush Bottles
Kush Bottles, Inc. (OTCQB: KSHB) is a dynamic sales platform that provides unique products and services for both businesses and consumers in the cannabis industry including CBD manufacturers. Founded in 2010 as a packaging and supplies company for dispensaries and growers, Kush Bottles has sold more than 1 billion units and now regularly services more than 5,000 legally operated medical and adult-use dispensaries, growers, and producers across North America, South America, and Europe. The Company has facilities in the three largest U.S. cannabis markets and a local sales presence in every major U.S. cannabis market.
Kush Bottles aims to be the gold standard for responsible and compliant products and services in the cannabis industry. Kush Bottles has no direct involvement with the cannabis plant or any products that contain THC or CBD.
The Company has been featured in media nationwide, including CNBC, Los Angeles Times, TheStreet.com, Entrepreneur, and business magazine Inc.
For more information, visit www.kushbottles.com or call (888)-920-5874.
Forward-Looking Statements
This press release may include predictions, estimates or other information that might be considered forward-looking within the meaning of applicable securities laws. While these forward-looking statements represent the Company’s current judgments, they are subject to risks and uncertainties that could cause actual results to differ materially. You are cautioned not to place undue reliance on these forward-looking statements, which reflect the opinions of the Company’s management only as of the date of this release. Please keep in mind that the Company is not obligating itself to revise or publicly release the results of any revision to these forward-looking statements in light of new information or future events. When used herein, words such as: “potential,” “look forward,” “believe,” “dedicated,” “building,” or variations of such words and similar expressions are intended to identify forward-looking statements. Factors that could cause actual results to differ materially from those contemplated in any forward-looking statements made by the Company herein are often discussed in filings the Company makes with the United States Securities and Exchange Commission (SEC), available at: www.sec.gov, and on the Company’s website, at: www.kushbottles.com.
Kush Bottles Contacts
Media Contact:
Anne Donohoe / Nick Opich
KCSA Strategic Communications
212-896-1265 / 212-896-1206
adonohoe@kcsa.com / nopich@kcsa.com
Investor Contact:
Phil Carlson / Elizabeth Barker
KCSA Strategic Communications
212-896-1233 / 212-896-1203
ir@kushbottles.com