KushCo Holdings, Inc. Reconfirms Fiscal 2019 Income Guidance
GARDEN GROVE, CA / ACCESSWIRE / September 13, 2019 / KushCo Holdings, Inc. (OTCQX:KSHB) (“KushCo” or the “Company”), currently announced that it is reconfirming its annual income guidance for its fiscal year ended August 31, 2019 of amongst $145 million and $150 million in sales.
Significant initiatives that the Organization launched and/or achieved for the duration of Fiscal 2019 contain:
- The Organization renamed and rebranded itself as “KushCo Holdings, Inc.” The Company’s principal operating business subsidiary is now Kush Provide Co.
- The Organization opened its new corporate headquarters in Cypress, California.
- The Organization opened its item sourcing workplace in Ningbo, China and a regional distribution center in Taylor, Michigan.
- The Organization implemented a new Warehouse Management Technique across its numerous warehouse places, which has driven efficiencies and price savings across the organization.
- The Organization launched the very first-of-its-type stainless steel tank to shop and transport its pure hydrocarbon gases. This cleaner vessel will make certain KushCo’s gas is in its purest type when it reaches its consumers.
- The Organization joined the Sustainable Packaging Coalition and announced partnerships with each Sungrown and IEKO, permitting it to provide compostable items to its consumer base.
- The Organization partnered with CA Fortune to launch retail solutions to CBD and Hemp brands.
- The Organization hired Steve Hwang and turned Koleto Packaging Options into its innovation arm – a division tasked with launching most effective-in-class, proprietary options.
- The Organization revamped its C-Suite group by hiring Chris Tedford (CFO) and advertising Jason Vegotsky (CRO/President) and Rodrigo de Olivera (COO).
- The Organization formed an Advisory Boardthat consists of Ali Jahangiri, Danny Moses, Matt Morgan, Pete Kadens, and Tim Seymour.
- The Organization secured a $50 million asset-primarily based revolving credit facility with Monroe Capital – a very first for a cannabis-connected business.
- The Organization upgraded its listing status to the OTCQX (the OTC Markets’ highest tier) and applied to be listed on the Nasdaq Worldwide Choose Market place (Nasdaq’s highest tier).
In addition to reaching these very transformational initiatives and important milestones, we are most proud of the way we have been in a position to develop the organization and position ourselves for lengthy-term sustainable achievement. Our income development for the year remained sturdy.
Nick Kovacevich, CEO and Chairman of KushCo Holdings
“We have never ever been a lot more excited about how our Organization is positioned than appropriate now. We think we have the appropriate persons, consumer base, and the method to develop some thing genuinely unique. We are executing and increasing simply because we have constructed the correct foundation, with the optimal lengthy-term method of placing an intense concentrate on developing worth for our consumers. Firms that operate in the cannabis space recognize the worth of partnering with us and there is not a day that passes exactly where we take that for granted. We will continue to do every thing we can to produce a lot more worth for our consumers, although producing ourselves important to their achievement.”
“We want to thank our shareholders and other supporters for their continued help and belief in our lengthy-term vision and mission. I appear forward to executing on our strategic program by means of fiscal year 2020 and returning with one more update one particular year from now.”
Monetary Information and facts is Preliminary and May possibly Be Topic to Modify
The unaudited economic information and facts presented in this press release is preliminary, and is primarily based on management’s initial overview of operations for the fiscal year ended August 31, 2019 and topic to the Company’s year-finish and quarter-finish closing procedures.
About KushCo Holdings, Inc.
KushCo Holdings, Inc. (OTCQX: KSHB) (www.kushco.com) is the premier producer of ancillary items and solutions to the cannabis and hemp industries. KushCo Holdings’ subsidiaries and brands offer, item high quality, exceptional consumer service, compliance know-how and a regional presence in serving its diverse consumer base.
Founded in 2010, KushCo Holdings has now sold a lot more than 1 billion units to growers, processors and producers across North America, South America, and Europe.
The Organization has been featured in media nationwide, such as CNBC, Los Angeles Occasions, TheStreet.com, Entrepreneur, Inc Magazine. Whilst KushCo Holdings supplies items and options to consumers in the cannabis and CBD industries, it has no direct involvement with the cannabis plant or any items that include THC or CBD.
For a lot more information and facts, pay a visit to www.kushco.com or contact (888) 920-5874
Original Press Release
For truth-primarily based information and facts on KushCo Holdings, view the company’s sponsored Investor Dashboard.
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