Cannabis hedge fund, Merida, has invested $US6 million dollars into Kush Bottles, Inc. (OTC: KSHB) to help expand the company’s product line, increase distribution networks, and enter into new regulated cannabis markets.
The two companies will be focused on the cannabis market on the East coast. Kush Bottles already distributes a number of products on their website such as: cannabis vaporizers, accessories, packaging, and a number of other ancillary products to the industry. Kush Bottles stock price currently sits at $5.67 per share.
Quote from the CEO Nicholas Kovacevich
“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.”