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, announced today it has entered into a merger agreement to acquire Summit Innovations, LLC (“Summit Innovations”), a leading distributor of hydrocarbons to the legal cannabis industry based in Denver, Colorado.
Hydrocarbon gases are used to turn cannabis plants into oils, and this acquisition marks Kush Bottles’ entry into a new business vertical supplying gas to cannabis extractors.
The transaction is expected to close by May 1, 2018, subject to confirmatory due diligence and certain closing conditions, including (among others) approval of the transaction by the equity holders of Summit Innovations.
Summit Innovations serves the rapidly growing concentrates segment of the cannabis industry and operates seven distribution facilities located across the country.
Its four core products are high purity butane, propane, iso-butane and blends.
Summit Innovations works closely with legal cannabis manufacturers to ensure cleanliness, product quality, safety and compliance during the extraction process.
Nicholas Kovacevich, CEO and Chairman of Kush Bottles, commented, “Summit Innovations supplies hydrocarbon gases specific to various cannabis extraction processes.
Integrating this broad gas portfolio into our large distribution platform will...
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