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 a multi-year distribution agreement with Veriteque USA, Inc., ("Veriteque") a manufacturer of the patented SwabTek™ and Verifique™ brand of single-use, dry reagent presumptive field tests for detection of narcotics, explosives, gunshot residue and other harmful substances. Under the agreement, Greenlane will distribute Veriteque's comprehensive portfolio of field test kits in the U.S. with a focus on institutional retail, education, law enforcement and corporate accounts. Veriteque's manufacturing facility, located in San Diego, CA, is capable of producing hundreds of thousands of printed tests daily and currently supplies well known retailers nationwide including Walgreens and Rite Aid, thousands of U.S. schools, more than 100 airports in the EU and hundreds of global law enforcement agencies.
SwabTek™and Verifique™ Field Test Kits
"Our new distribution relationship with Veriteque underscores our commitment to enabling our customers to make their communities safer by providing innovative solutions that help advance the detection of harmful or dangerous substances. SwabTek and Verifiquetests provide timely quantitative insights so school administrators, law enforcement professionals and parents can take appropriate action," said Barbara Sher, Chief Executive Officer for Greenlane. "We are very excited to add Veriteque's innovative and efficient solutions that synergize seamlessly with our growing portfolio of drug, safety and wellness products."
Bobby Betros, Chief Executive Officer of Veriteque USA, commented, "We are very excited to have Greenlane on board as a distributor of both the SwabTek and Verifique products. Greenlane shares our commitment to community safety and wellness, and will help get our products into the hands of those who need them to help mitigate the negative impacts of drug use in their communities."
Veriteque's SwabTek™ and Verifique™Test Kits
Safe to use dry paper and swab format
Simple and intuitive single step test with instant results
Moistened swab collects samples off any surface
Paper-based tests with limited environmental impact
About Veriteque
Veriteque is a US-based manufacturer that produces the world's only dry reagent detection tests for narcotics and explosives. Veriteque serves law enforcement, education, and private security professionals around the world through their institutionally focused brand, SwabTek (www.swabtek.com). Veriteque also equips private and home users with narcotics detection technology through the company's consumer focused brand, Verifique (www.verifique.net), whose test kits are available in pharmacies nationwide.
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.
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.
