Kush Bottles, Inc. (OTCQB: KSHB) (“Kush Bottles” or the “Company”), a leading provider of packaging, supplies, vaporizers, accessories and branding solutions for the regulated cannabis industry, today announced that it has entered into a strategic partnership with a leading cannabis ancillary fund, Merida Capital Partners (“Merida”), and has received a $6 million equity investment from Merida to accelerate its near and long-term growth strategy. Kush Bottles plans to use the proceeds to expand its product portfolio, build new distribution channels and penetrate new legalized markets.
The strategic partnership will focus on building Kush Bottles’ East Coast distribution platform, and expanding the Company’s footprint in medical and adult-use markets on the East Coast, where Merida has a strong presence. This will also create the opportunity for Kush Bottles, with Merida’s assistance, to develop and execute its acquisition pipeline.
Nicholas Kovacevich, Chairman and CEO of Kush Bottles, commented: “The Merida team’s deep understanding of the unique dynamics of the cannabis industry, strong industry networks and willingness to finance our growth will be invaluable as we exploit new opportunities and enter new markets. We plan to use this capital investment to expand our range of proprietary products to meet the needs of the industry, advance our M&A strategy to take advantage of consolidation in the industry and grow market share.”
Merida’s Managing Partner, Mitchell Baruchowitz, commented: “Since we first started discussing a partnership and investment in Kush Bottles nearly seven months ago, we have been deeply impressed by the vision of Nick and his team and the progress they have made strategically positioning Kush Bottles as much more than simply a packaging company. Kush Bottles’ acquisitions and in-house development efforts have established the Company as a critical link in the supply chain for more than 5,000 cannabis growers, extractors, manufacturers and retailers. The Merida team could not be more excited to put significant resources to work to build on this foundation to expand Kush Bottles’ leading position.”
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. Founded in 2010 as a packaging and supplies company for dispensaries and growers, Kush Bottles has sold more than 100 million 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.
About Merida Capital Partners
Merida Capital Partners is a private equity fund targeting fundamental growth drivers which accelerate the rapid development of the cannabis industry. Our investment emphasis focuses on cultivation technologies and products and services associated with the evolution of cannabis as an agricultural product, a natural plant-based medicine, a constituent in pharmaceutical formulations, and a recreational consumer product. For more information, please visit www.meridacap.com.
Source: PR Newswire