Kush Supply Co. (fka KSHB)

[honyaker]

KushCo Holdings, Inc. Announces Long Term Supply Arrangements-in-Principle Totaling Up To $75.0 million
8:59 am ET January 16, 2019 (Globe Newswire) Print
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."