Greenlane Inks Distribution Deal To Expand In Latin America Market

  • Greenlane Holdings Inc GNLN entered into a distribution agreement with Universal Distribution LATAM LLC to distribute its house brands in Latin America.
  • Under the agreement terms, Greenlane has granted Universal Distribution the exclusive right to promote, market, distribute and sell the Greenlane Brands to retailers for resale in Chile, Uruguay, and Argentina.
  • Greenlane has also granted the non-exclusive right to its brands via all wholesale channels in other territories in South America, Central America, and Mexico.
  • Universal Distribution also secured the right to sell certain third-party brand products.
  • Universal Distribution has committed to sales targets of at least $1.5 million of Greenlane Brands and third-party products in the first year, at least $1.9 million in the second, and at least $2.4 million in the third year.
  • Price Action: GNLN shares traded higher by 5.25% at $0.33 on the last check Friday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: NewsPenny StocksContractsBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!