KushCo Holdings (KSHB) Stock Trades Lower: Time To Buy Or Sell?

KushCo Holdings Inc (OTCMKTS:KSHB) confirmed asking investor proxies pertaining to the proposed merger with Greenlane Holdings Inc. This will lead to creation of an ancillary cannabis company providing set of customers such as leading multi-state operators and licensed producers, big smoke shops in US as well as consumers globally.

Merger expected in quarter 3 of 2021, it hopes to get approval from major shareholders of Greenlane and KushCo. A dedicated website was also been launched by the two companies for consolidating publicly available information on both the firms.

Kushco will also have a special meeting on August 26, 2021 at 12:00 PM ETfor shareholders to vote on approval of agreement while shareholders of Greenlane can vote by 10 A.M ET. Both the companies’ board of directors have approved the transaction. Additionally, a special independent committee comprising Greenlane’s independent directors had also approved the transaction. Shareholders of Greenlane and Kushcowere mailed the joint proxy statement/prospectus by July 1.

Based out of California, KushCo is provider of premier ancillary products as well as services to the global CBD and cannabis industries. Operating for over a decade, Kushco has sold over a billion units to processors, growers, producers as well as brands across South America, North America and Europe.

Market Reaction:

As of 10:39, KSHB stock fell 6% at $1.06 with more than 1.06 million shares, compared to  its average volume of 841k shares. The stock has moved within a range of $0.9900 – 1.1900 after opening the trade at $1.15. Over the past 52-week, the stock has been trading within a range of $0.4300 – 2.1000.