Kush Bottles Closes Acquisition of Summit Innovations, LLC. | CashCropToday
0 Shares 120 Views

Kush Bottles Closes Acquisition of Summit Innovations, LLC.

May 3, 2018
120 Views

Kush Bottles, Inc. (OTCQB: KSHB), announced this morning that the company has completed its acquisition of Summit Innovations, LLC., who is one of the leading distributor of hydrocarbons to legal cannabis businesses.

Summit Innovations has been acquired by Kush Bottles in exchange for 1,280,000 shares of the company’s stock and approximately $3.2 million dollars in cash. Kush bottles is one of the a leading distributors of ancillary goods to the cannabis industry such as packaging,  vaporizers, hydrocarbon gases, solvents,  and other accessories in the United States.

Hydrocarbon based gases are used to extract cannabis and other cannabinoid based oils from cannabis and industrial hemp. This acquisition will allow Kush Bottles to enter a new marketplace for cannabis based solvents. Summit Innovations owns seven different facilities across the U.S. that distributes butane, propane, iso-butane and other blends.

Nicholas Kovacevich, CEO and Chairman of Kush Bottles gave this statement in the press release:

” By bringing Summit Innovations under the Kush Bottles umbrella, we expect to leverage synergies in our distribution channels to grow sales at both Summit and our existing business lines. This is a major step forward in our strategy to position Kush Bottles as a one-stop shop for any business looking to operate responsibly within the legal cannabis market.”

You may be interested

Uttarakhand Becomes the First State in India to Issue Industrial Hemp Cultivation License
Global
180 views
Global
180 views

Uttarakhand Becomes the First State in India to Issue Industrial Hemp Cultivation License

Editor - July 13, 2018

Uttarakhand has become the first state in India to have issued a legal license for the commercial cultivation of industrial hemp.  The Indian Industrial Hemp Association (IIHA)…

British Colombia Announces List of Licensed Distributors Ahead of Recreational Cannabis
Global
177 views
Global
177 views

British Colombia Announces List of Licensed Distributors Ahead of Recreational Cannabis

Editor - July 13, 2018

The British Colombia Liquor Distribution Branch has announced a list of the 31 federally licensed cannabis manufacturers and distributors ahead of October 2018, when the Cannabis Act…

New York Department of Health to Allow Medical Cannabis as an Opioid Replacement
Politics
174 views
Politics
174 views

New York Department of Health to Allow Medical Cannabis as an Opioid Replacement

Editor - July 13, 2018

Earlier this month, the New York State Department of Health announced new emergency regulations to allow patients prescribed opioids to be given a license to obtain medicinal…

Leave a Comment

Your email address will not be published.

Most from this category

%d bloggers like this: