Greenlane Announces Non-Binding Letter of Intent to be the Exclusive Distributor in the U.S. of Safety Strips, Inc.'s Fentanyl, Xylazine and Drink Spike Detection Test Strips
Greenlane Holdings (NASDAQ:GNLN) has entered a non-binding letter of intent to become the exclusive U.S. distributor of Safety Strips, Inc.'s fentanyl, xylazine, and drink spike detection test strips. These high-sensitivity tests offer powerful detection capabilities for the current opiate crisis. Safety Strips' products provide an affordable and accurate way to test substances for dangerous adulterants like fentanyl and xylazine, which are exacerbating the opioid epidemic.
The single, low-cost test strip can detect various synthetic opioids and is designed to help prevent opioid-related deaths. Greenlane plans to leverage its strong distribution, operations, marketing, and sales teams to support the brand and grow the business. This partnership aims to address the growing concern of drug-facilitated assaults and the increasing presence of dangerous drug combinations in the United States.
Greenlane Holdings (NASDAQ:GNLN) ha intrapreso una lettera di intenti non vincolante per diventare il distributore esclusivo negli Stati Uniti delle strisce di prova per la rilevazione di fentanyl, xylazina e bevande adulterate dell'azienda Safety Strips, Inc. Questi test ad alta sensibilità offrono potenti capacità di rilevamento per la crisi attuale degli oppiacei. I prodotti di Safety Strips forniscono un modo economico e preciso per testare le sostanze in cerca di adulteranti pericolosi come fentanyl e xylazina, che stanno aggravando l'epidemia di oppiacei.
La singola striscia di prova a basso costo può rilevare vari oppioidi sintetici ed è progettata per aiutare a prevenire decessi legati agli oppiacei. Greenlane intende sfruttare i suoi forti team di distribuzione, operazioni, marketing e vendite per supportare il marchio e far crescere l'attività. Questa partnership mira ad affrontare la crescente preoccupazione per gli attacchi facilitati da droghe e la crescente presenza di combinazioni di droghe pericolose negli Stati Uniti.
Greenlane Holdings (NASDAQ:GNLN) ha firmado una carta de intención no vinculante para convertirse en el distribuidor exclusivo en EE. UU. de las tiras de prueba de detección de fentanyl, xylazine y bebidas adulteradas de Safety Strips, Inc. Estas pruebas de alta sensibilidad ofrecen potentes capacidades de detección en la actual crisis de opioides. Los productos de Safety Strips proporcionan una forma económica y precisa de analizar sustancias en busca de adulterantes peligrosos como el fentanyl y la xylazine, que agravan la epidemia de opioides.
La tira de prueba única y de bajo costo puede detectar varios opioides sintéticos y está diseñada para ayudar a prevenir muertes relacionadas con los opioides. Greenlane planea aprovechar sus fuertes equipos de distribución, operaciones, marketing y ventas para apoyar la marca y hacer crecer el negocio. Esta asociación tiene como objetivo abordar la creciente preocupación por los asaltos facilitados por drogas y la creciente presencia de combinaciones peligrosas de drogas en Estados Unidos.
그린레인 홀딩스 (NASDAQ:GNLN)는 세이프티 스트립스, Inc.의 펜타닐, 자일라진 및 음료 스파이크 탐지 테스트 스트립의 미국 독점 배급업체가 되기 위한 비구속 의향서에 서명했습니다. 이 고감도 테스트는 현재 오피오이드 위기에 대한 강력한 탐지 기능을 제공합니다. 세이프티 스트립스의 제품은 펜타닐 및 자일라진과 같은 위험한 불순물을 테스트하는 저렴하고 정확한 방법을 제공합니다. 이들은 오피오이드 유행을 악화시키고 있습니다.
단일 저비용 테스트 스트립은 다양한 합성 오피오이드를 탐지할 수 있으며, 오피오이드 관련 사망을 예방하는 데 도움을 주도록 설계되었습니다. 그린레인은 브랜드를 지원하고 비즈니스를 성장시키기 위해 자사의 강력한 유통, 운영, 마케팅 및 판매 팀을 활용할 계획입니다. 이 파트너십은 약물이 용이하게 만들어진 공격과 미국 내 위험한 약물 조합의 증가에 대한 우려를 해결하는 것을 목표로 하고 있습니다.
Greenlane Holdings (NASDAQ:GNLN) a signé une lettre d'intention non contraignante pour devenir le distributeur exclusif aux États-Unis des bandes de test de détection de fentanyl, xylazine et boissons altérées de Safety Strips, Inc. Ces tests de haute sensibilité offrent des capacités de détection puissantes dans le cadre de la crise actuelle des opioïdes. Les produits de Safety Strips fournissent une méthode économique et précise pour tester les substances à la recherche d'adultérants dangereux comme le fentanyl et la xylazine, qui aggravent l'épidémie d'opioïdes.
La banderole de test unique et à faible coût peut détecter divers opioïdes synthétiques et est conçue pour aider à prévenir les décès liés aux opioïdes. Greenlane prévoit de tirer parti de ses équipes solides en matière de distribution, d'opérations, de marketing et de vente pour soutenir la marque et développer l'activité. Ce partenariat vise à répondre à la préoccupation croissante concernant les agressions facilitée par la drogue et la présence accrue de combinaisons de drogues dangereuses aux États-Unis.
Greenlane Holdings (NASDAQ:GNLN) hat ein nicht bindendes Schreiben mit der Absicht unterzeichnet, der exklusive US-Distributor von Safety Strips, Inc. für Tests zum Nachweis von Fentanyl, Xylazin und adulterierten Getränken zu werden. Diese hochsensiblen Tests bieten leistungsstarke Nachweismöglichkeiten für die aktuelle Opioidkrise. Die Produkte von Safety Strips bieten eine erschwingliche und genaue Möglichkeit, Substanzen auf gefährliche Verunreinigungen wie Fentanyl und Xylazin zu testen, die die Opioid-Epidemie verschärfen.
Der einzelne, kostengünstige Teststreifen kann verschiedene synthetische Opioide nachweisen und ist darauf ausgelegt, opioidbedingte Todesfälle zu verhindern. Greenlane plant, seine starken Teams für Distribution, Betrieb, Marketing und Vertrieb zu nutzen, um die Marke zu unterstützen und das Geschäft zu steigern. Diese Partnerschaft zielt darauf ab, der wachsenden Besorgnis über drogenbedingte Übergriffe und die zunehmende Präsenz gefährlicher Drogenkombinationen in den Vereinigten Staaten zu begegnen.
- Exclusive U.S. distribution agreement for high-sensitivity drug detection test strips
- Expansion of product portfolio with innovative and complementary offering
- Potential for business growth through leveraging Greenlane's distribution and marketing capabilities
- Addressing a critical market need in the fight against the opioid crisis
- Non-binding nature of the letter of intent, indicating the deal is not yet finalized
- Potential regulatory challenges in distributing drug detection products
Insights
The non-binding LOI for exclusive U.S. distribution of Safety Strips' test products represents a strategic expansion for Greenlane. While the financial terms are not disclosed, this move could diversify Greenlane's revenue streams and potentially increase market share in the harm reduction sector. The partnership aligns with growing public health concerns, potentially positioning Greenlane to capitalize on increased demand for drug testing products. However, investors should note that the LOI is non-binding and the actual impact on Greenlane's financials remains to be seen. The deal's success will depend on Greenlane's ability to leverage its distribution network and the market adoption rate of Safety Strips' products.
Safety Strips' test products address a critical public health issue, with potential for significant market demand. The high sensitivity of these strips in detecting fentanyl and xylazine is crucial, given the DEA's report of their widespread presence. The
This partnership taps into the growing harm reduction market, driven by the escalating opioid crisis. Greenlane's extensive distribution network could significantly expand Safety Strips' market reach. The product's affordability and ease of use are key selling points that could drive adoption. However, the success of this venture will depend on regulatory landscapes across different states, as some have restrictions on fentanyl test strips. The company should also be prepared for potential competition from established players in the drug testing market. While the partnership shows promise, investors should monitor the transition from LOI to a binding agreement and subsequent market penetration to gauge its long-term impact on Greenlane's business.
High-sensitivity test strips offer powerful detection capability for the current and growing opiate crisis
Combining Greenlane's industry leading omnichannel distribution platform with Safety Strips affordable and highly accurate ISO certified test strips to help prevent opioid-related deaths
BOCA RATON, FL / ACCESSWIRE / August 12, 2024 / Greenlane Holdings, Inc. ("Greenlane" or the "Company") (NASDAQ:GNLN), one of the premier global sellers of premium cannabis accessories, child-resistant packaging, and specialty vaporization products, today announced that it has entered into a non-binding letter of intent (the "LOI") to be the exclusive distributor in the U.S, of Safety Strips, Inc.'s fentanyl, xylazine and drink spike detection test strips.
"We are excited and proud to provide Safety Strips affordable and highly accurate tests with trace level fentanyl and xylazine detection capabilities to our customers throughout the U.S.," said Barbara Sher, Chief Executive Officer for Greenlane. "Safety Strips products are an innovative and complementary addition to our extensive product portfolio, and we plan to leverage our strong distribution, operations, marketing and sales teams to support the brand. We look forward to growing the business together."
Safety Strips offers a single, low-cost test strip that provides an affordable, reliable way for people to test substances for fentanyl and xylazine (popularly known as tranq), two dangerous adulterants that are exacerbating the already critical and growing opioid epidemic.
For example, the U.S. Drug Enforcement Administration (DEA) recently reported that it had found the deadly combination of fentanyl and xylazine in nearly a quarter of drugs sampled from 48 out of 50 states. According to the Centers for Disease Control and Prevention (CDC), between 2018 and 2021, deaths involving xylazine increased by 1,
Safety Strips Fentanyl Test Strip (FTS) ISO 13485 validated product, is an easy-to-use lateral flow immunoassay designed to swiftly detect potent synthetic opioids, including 3-Methyl Fentanyl, Acetyl Fentanyl, Butyryl Fentanyl, Carfentanil, Fentanyl, Furanyl Fentanyl, Ocfentanil, Remifentanil, Sufentanil, Valeryl Fentanyl, and p-Fluoro Fentanyl.
Recognizing that
To use the test, a small sample of the substance is mixed with water. The test strip is then dipped into the liquid for 15 seconds. After waiting approximately five minutes, the results can be read, offering a quick way to identify the presence of these dangerous adulterants. One line indicates fentanyl is present in the sample; two lines indicate a negative result. Test strips are the easiest, fastest, and most accurate way to detect ultra-low nanogram trace amounts of fentanyl or xylazine in powders, pills or injectables and can help prevent accidental overdoses.
About Safety Strips, Inc.
Safety Strips is your trusted partner in ensuring drug safety. We are dedicated to combating the growing opioid crisis by providing a reliable solution for detecting fentanyl in your supply. Our test strips are meticulously designed to detect a wide range of potent synthetic opioids, including 3-Methyl Fentanyl, Acetyl Fentanyl, Butyryl Fentanyl, Carfentanil, Fentanyl, Furanyl Fentanyl, Ocfentanil, Remifentanil, Sufentanil, Valeryl Fentanyl, and p-Fluoro Fentanyl. We understand the urgency of this issue and are proud to offer ISO 13485 certified test strips that are highly accurate.
For additional information, please visit: https://www.safetystrips.com/
About Greenlane Holdings, Inc.
Founded in 2005, Greenlane is a premier global platform for the development and distribution of premium smoking accessories, vape devices, and lifestyle products to thousands of producers, processors, specialty retailers, smoke shops, convenience stores, and retail consumers. We operate as a powerful family of brands, third-party brand accelerator, and an omnichannel distribution platform.
We proudly offer our own diverse brand portfolio and our exclusively licensed Marley Natural and K.Haring branded products. We also offer a carefully curated set of third-party products through our direct sales channels and our proprietary, owned and operated e-commerce platforms which include Vapor.com, PuffItUp.com, HigherStandards.com, Wholesale.Greenlane.com and MarleyNaturalShop.com.
For additional information, please visit: https://investor.gnln.com. For additional information, please visit: https://gnln.com/.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 concerning Greenlane and other matters. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements In some cases, you can identify forward-looking statements by terms such as "may," "will," "should," "expects," "plans," "anticipates," "could," "intends," "targets," "projects," "contemplates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of these terms or other similar expressions. The forward-looking statements in this press release are only predictions. Greenlane has based these forward-looking statements largely on its current expectations and projections about future events and financial trends that it believes may affect its business, financial condition and results of operations. Forward-looking statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. You should carefully consider the risks and uncertainties that affect our business, including those described in our filings with the Securities and Exchange Commission ("SEC"), including under the caption "Risk Factors" in Greenlane's Annual Report on Form 10-K filed for the year ended December 31, 2023 and the Company's other filings with the SEC, which can be obtained on the SEC website at www.sec.gov. These forward-looking statements speak only as of the date of this communication. Except as required by applicable law, we do not plan to publicly update or revise any forward-looking statements, whether as a result of any new information, future events or otherwise. You are advised, however, to consult any further disclosures we make on related subjects in our public announcements and filings with the SEC.
Investor Contact:
or
TraDigital IR
Kevin McGrath
+1-646-418-7002
kevin@tradigitalir.com
SOURCE: Greenlane Holdings, Inc.
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FAQ
What is the purpose of Greenlane's new distribution agreement with Safety Strips, Inc.?
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