Greenlane appoints Mike Hinson as executive vice president of sales

BOCA RATON - Greenlane Holdings, Inc. (NASDAQ:GNLN), a seller of premium cannabis accessories and vaporization products with annual revenues of $9.82 million, announced Monday the appointment of Mike Hinson as Executive Vice President of Sales. According to InvestingPro data, the company maintains a strong liquidity position with more cash than debt on its balance sheet.

In his new role, Hinson will oversee revenue optimization, sales strategies, business development, and growth opportunities, according to a company press release. This appointment comes as Greenlane maintains a healthy gross profit margin of 56% despite challenging market conditions.

Hinson brings more than 20 years of experience leading sales teams. He previously served as Senior Vice President of Sales at Besmartee, a digital mortgage platform. His career also includes leadership positions at AudienceView, RealPage, Inc., and Paciolan.

"Through his experience in creating, developing, and supporting high-performance sales organizations, Mike will collaborate with our teams to enhance sales and marketing initiatives throughout the entire organization," said Barbara Sher, Chief Executive Officer for Greenlane.

Hinson holds a Bachelor of Business Administration degree from James Madison University.

Greenlane, founded in 2005, develops and distributes smoking accessories, vape devices, and lifestyle products to retailers and consumers. The company offers its own brand portfolio along with exclusively licensed Marley Natural and K.Haring branded products. With a current market capitalization of $4.27 million, InvestingPro analysis suggests the stock is currently undervalued, with additional insights available through their premium service.

In other recent news, Greenlane Holdings, Inc. announced a one-for-750 reverse stock split to comply with Nasdaq’s minimum bid price requirement, effective June 26, 2025. This move will significantly reduce the number of outstanding Class A common shares from approximately 1.04 billion to about 1.39 million. Additionally, Greenlane has renewed its distribution agreement with PAX Labs, ensuring continued distribution of PAX’s popular vaporizer products across the United States. The company also entered into a new distribution deal with Greentank Technologies to bring its innovative vaporization devices to the U.S. market. Furthermore, Greenlane reported an increase in its outstanding shares to 319,816,671 following the exercise of pre-funded and Series B warrants from a recent private placement. This increase in shares is part of the company’s broader financial strategy, which includes raising additional capital. These developments highlight Greenlane’s ongoing efforts to expand its product offerings and maintain its market position.

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