GARDEN GROVE, Calif., Jan. 16, 2019 (GLOBE NEWSWIRE) -- KushCo Holdings, Inc. (OTCQB: KSHB) (“KushCo” or the “Company”), the parent company of innovative cannabis industry leaders such as Kush Supply Co., Kush Energy, The Hybrid Creative, and Koleto Packaging Solutions, which provide a range of services and products for the regulated cannabis, CBD and other related industries, today announced it has entered into a number of long-term supply arrangements-in-principle with regard to three large, well-known new customers. The Company believes these long-term supply arrangements (with expected terms of one to three years) will not only create lasting partnerships with these new customers, but also are expected to provide the Company with an aggregate value of up to $75.0 million of new revenue over the next three years, while providing more supply chain certainty for all parties involved.
Jason Vegotsky, Kush Supply Co.’s President commented, “We are witnessing a rapid evolution of our customer base as the large multi-state operators continue to gain scale and prepare for additional market legalization. As the leading provider of ancillary products and services into the US and Canadian cannabis markets our customers count on us to provide security of supply so they can maximize their market opportunities. It is therefore vital we have the products they need, readily available and in the ever-increasing quantities they require. These long-term supply arrangements, once implemented, will establish a working partnership such that both parties can achieve the maximum benefit in this dynamic market environment.”
KushCo Holdings’ Chief Executive Officer, Nick Kovacevich, added, “The Company continues to go from strength to strength as witnessed by our strong 2019 first quarter performance in which the Company’s revenues were up 186% over the same period last year. As a trusted business partner, KushCo has entered into a number of long-term supply arrangements-in-principle with several new large, well-known customers. We believe these arrangements will provide our customers assurance of supply and allow us the ability to manage our supply chain accordingly in order to meet these requirements.”
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About KushCo Holdings, Inc.
KushCo Holdings, Inc. (OTCQB: KSHB) is the parent company to a strategically integrated group of business units that are transformative leaders across several industries. KushCo Holdings’ subsidiaries and brands provide exceptional customer service, product quality, compliance knowledge and a local presence in serving its diverse customer base.
KushCo Holdings’ brands include Kush Supply Co., a dynamic sales platform that is the nation’s largest and most respected distributor of packaging, supplies, and accessories to the cannabis and CBD industry, Kush Energy, which provides ultra-pure hydrocarbon gases and solvents, Hybrid Creative, a premier creative design agency for clients across several industries, and Koleto Innovations, the research and development arm driving intellectual property development and acquisitions.
Founded in 2010, KushCo Holdings has now sold more than 1 billion units and regularly sells to more than 5,000 legally operated medical and adult-use dispensaries, growers, and producers across North America, South America, and Europe. KushCo Holdings subsidiaries maintain facilities in the five largest U.S. cannabis markets as well as having a local sales presence in every major U.S. cannabis market.
KushCo Holdings strives to be the industry leader for responsible and compliant products and services in the legal cannabis and CBD industry. The Company has been featured in media nationwide, including CNBC, Los Angeles Times, TheStreet.com, Entrepreneur, and business magazine Inc. While KushCo Holdings provides products and solutions to customers in the cannabis and CBD industries, it has no direct involvement with the cannabis plant or any products that contain THC or CBD.
For more information, visit www.kushco.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. These “forward-looking” statements include statements relating to, among other things, the expected revenue attributable to the supply arrangements and the Company’s expectation that the supply arrangements-in-principle will become binding on the parties upon execution of definitive documents. 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,” “expect,” “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.kushco.com.
KushCo Holdings 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@kushco.com