Greenlane Holdings, Inc. (NASDAQ:GNLN) announced on Thursday its distribution partnership with AUXO, an innovative vaporization brand produced by SMOORE.
AUXO is a consumer-focused product line backed by CCELL patented technology, world-class research, and a high standard of manufacturing. Included in the AUXO product catalog are premium dry herb, concentrate, and dual-use vaporizers, many of which are compatible with the AUXO Connect App to personalize sessions.
“Greenlane’s strategic partnership to distribute the consumer-facing AUXO brand is another example of how we are implementing our business strategy to focus on both high-margin house brands and strategic partnerships,” Craig Snyder, president of Greenlane, said. “We are excited about this new line of innovative vaporization products and believe it will contribute toward Greenlane’s growth and success.”
Why It Matters
Brad Li, global chief commercial officer of CCELL and AUXO said that the new collaboration expands SMOORE’s portfolio of consumer-facing brands into new channels.
“The partnership will also bring more synergy to CCELL’s B2B endeavors, and we believe this is one of many future growth opportunities to deliver exceptional value to consumers,” Li said.
Related News
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- Greenlane Q2 Revenue Grows 15% YoY, Provides Outlook
- Greenlane Secure $15M Accreditive Credit Facility
- Greenlane Secures $15 Million Asset-Based Loan
Price Action
Greenlane’s shares traded 4.9938% lower at $1.5201 per share at the time of writing on Thursday morning.
Photo: Courtesy of Chiara Summer on Unsplash
