Greenlane Holdings, Inc. - GNLN STOCK NEWS

Greenlane Holdings, Inc. (NASDAQ: GNLN) is entering the battle against dangerous drugs by launching a new line of fentanyl, xylazine, and drink spike detection test strips under the Safety Strips, Inc. brand. The products will be available for order starting September 25th through Greenlane's online retail platforms, with shipments beginning October 1st.

This initiative comes amid the growing opioid crisis in the United States, where drug overdose deaths have increased nearly six times since 2000, with opioids accounting for about 80,000 deaths in 2021. The rising incidence of drink spiking has also prompted legislative action, such as California's AB 1013, which mandates that certain establishments offer drug testing kits to patrons.

Greenlane's partnership with Safety Strips aims to provide affordable, easy-to-use solutions for detecting dangerous substances, leveraging Greenlane's extensive sales, marketing, and distribution network. The global opioid overdose treatment market is expected to reach $1.54 billion in 2024, with a projected CAGR of 7.2% through 2034.

Safe Supply Streaming Co (CSE: SPLY) announces the launch of Safety Strips, a portfolio company introducing high-performing drug detection strips to combat fentanyl, xylazine, and drink spiking. The product will be distributed through Greenlane Holdings, Inc. (NASDAQ: GNLN) starting October 1, 2024. This initiative addresses the opioid epidemic and aligns with new California legislation (AB 1013) mandating bars and clubs to offer drug testing kits.

The launch is expected to create value for Safe Supply shareholders by enhancing market reach through Greenlane's distribution channels and meeting critical public safety needs. The U.S. opioid crisis has seen drug overdose fatalities increase nearly sixfold since 2000, with 71,000 deaths linked to fentanyl in 2021. Drink spiking also poses a significant threat, with over 320,000 reported cases of rape and sexual assault in 2016.

Greenlane Holdings, Inc. (NASDAQ:GNLN) has announced plans to launch a new line of fentanyl, xylazine, and drink spike detection test strips under the Safety Strips, Inc. brand. The products will be available for order from September 25th through Greenlane's online retail storefronts and wholesale portal, with shipments starting October 1st. This initiative aims to address the growing opioid epidemic and the rising incidence of drink spiking.

The company will leverage its distribution, operations, marketing, and sales teams to support the brand. This move aligns with California's new Assembly Bill No. 1013, which requires clubs and bars to offer drug testing devices for detecting controlled substances in drinks. Greenlane's CEO, Barbara Sher, emphasized the company's commitment to safety and improving lives through this partnership with Safety Strips, Inc.

Greenlane Holdings (NASDAQ:GNLN) announced its participation in the National Investment Bankers Association's (NIBA) 150th Investment Conference on September 4-5, 2024 in Ft. Lauderdale, Florida. CEO Barbara Sher will present and conduct one-on-one meetings with NIBA members, representing over 8,800 registered representatives with an estimated $100 billion assets under management.

Sher highlighted Greenlane's recent progress, including a 59.8% decrease in general and administrative expenses for Q2 2024 compared to Q2 2023, and a reduction in net loss from $9 million to $632 thousand. The company aims to control costs, drive efficiencies, and prioritize profitable revenue growth. Recent initiatives include a public offering to strengthen the balance sheet and becoming the exclusive U.S. distributor for Safety Strips, Inc.'s fentanyl, xylazine, and drink spike detection test strips.

Aegis Capital Corp. has successfully acted as the Exclusive Placement Agent for Greenlane Holdings, Inc. (NASDAQ: GNLN) in a $6.5 million private placement priced at-the-market. Greenlane Holdings is a prominent player in the cannabis accessories, vape devices, and lifestyle products industry, operating in the United States, Canada, and Europe.

The company's business is divided into two segments: Consumer Goods and Industrial Goods. Greenlane offers a wide range of products, including consumption accessories, vaporizers, pipes, rolling papers, and lifestyle merchandise under various brands such as Groove, Eyce, DaVinci, and Higher Standards. Additionally, Greenlane operates several e-commerce websites catering to both retail and wholesale customers.

Greenlane Holdings, Inc. (NASDAQ:GNLN), a leading global seller of premium cannabis accessories, has closed a $6.5 million private placement with a single institutional investor. The company issued 2,363,637 units and pre-funded units, each consisting of one share of common stock (or pre-funded warrant) and two common warrants. The common warrants are exercisable at $2.50 per share and will expire after 5 years. Greenlane plans to use the net proceeds for working capital and general corporate purposes. Aegis Capital Corp. acted as the Exclusive Placement Agent, while Sichenzia Ross Ference Carmel LLP served as counsel to Greenlane. The securities are being sold in a private placement exempt from registration requirements of the Securities Act of 1933.

Greenlane Holdings, Inc. (NASDAQ:GNLN), a leading global seller of premium cannabis accessories, child-resistant packaging, and specialty vaporization products, has announced that its Chief Executive Officer, Barbara Sher, acquired 12,500 common shares of the company on the open market. The purchases were made between August 5th and August 9th at an average price of $2.66 per share.

This move by the CEO is viewed as a demonstration of confidence in the company's intrinsic value and growth prospects, both in the near-term and long-term. The announcement highlights the alignment of the CEO's interests with those of the shareholders, potentially signaling a positive outlook for the company's future performance.

Greenlane Holdings (NASDAQ:GNLN), a leading global seller of premium cannabis accessories, has announced a $6.5 million private placement with a single institutional investor. The company will issue 2,363,637 units and pre-funded units, each consisting of one share of common stock (or pre-funded warrant) and two common warrants. The common warrants have an exercise price of $2.50 per share and will expire after 5 years.

The private placement is expected to close on August 13, 2024, subject to customary closing conditions. Greenlane plans to use the net proceeds for working capital and general corporate purposes. Aegis Capital Corp. is acting as the Exclusive Placement Agent, with legal counsel provided by Sichenzia Ross Ference Carmel LLP for Greenlane and Kaufman & Canoles, P.C. for Aegis Capital Corp.

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.