Greenlane inks distribution deal with Greentank for US market

BOCA RATON, FL - Greenlane Holdings, Inc. (NASDAQ:GNLN), a global seller of cannabis-related products, announced today an agreement with Greentank Technologies to distribute its vaporization devices in the United States. This partnership is expected to enhance Greenlane’s product offerings with Greentank’s award-winning vaporization technology. According to InvestingPro data, Greenlane maintains a healthy liquidity position with a current ratio of 2.25, though the company faces challenges with revenue declining nearly 79% in the last twelve months.

Greentank, recognized for its Quantum Chip™ technology, has facilitated over 500 vape brand launches in North America. Its Quantum Vape™, powered by the Quantum Chip™, is designed to improve the safety and quality of the vaping experience. The company’s innovation was honored with the "Most Promising Innovation" Golden Leaf Award at the 2024 Global Tobacco and Nicotine Forum.

Barbara Sher, CEO of Greenlane, expressed confidence in the growth potential of Greentank’s products within the U.S. market, citing the company’s established sales and marketing infrastructure as an asset in promoting Greentank’s offerings. She emphasized Greenlane’s commitment to innovation and customer accessibility, which aligns with Greentank’s product development philosophy. The company’s financial health score from InvestingPro currently indicates challenges, with negative EBITDA of $10.51M in the last twelve months, though analysts project revenue growth of 15% for the current fiscal year.

Greentank, headquartered in Toronto, Canada, is the only vape manufacturer with a Health Canada Research license and operates a semi-automated chip manufacturing and R&D facility. The company’s focus on engineering and design aims to enhance device performance across airflow, flavor, vapor output, and consistency.

Greenlane, founded in 2005, has a diverse portfolio of smoking accessories, vape devices, and lifestyle products. The company distributes to producers, specialty retailers, and consumers through various channels, including its e-commerce platforms.

The strategic distribution agreement is expected to benefit both companies, with Greenlane leveraging its network to introduce Greentank’s innovative products to a broader U.S. audience. The partnership is based on a shared vision for the advancement of vaping technology and market expansion.

The information regarding this distribution agreement is based on a press release statement. The forward-looking statements included in the press release involve risks and uncertainties that could impact the actual outcomes, and these are detailed in Greenlane’s filings with the Securities and Exchange Commission. InvestingPro subscribers have access to 16 additional investment tips and comprehensive financial metrics for Greenlane, providing deeper insights into the company’s valuation and market position.

In other recent news, Greenlane Holdings, Inc. has announced an increase in its outstanding shares following the exercise of pre-funded and Series B warrants linked to a private placement completed in February 2025. The issuance of new shares, now totaling 319,816,671, is part of the company’s broader financial strategy and may influence its market capitalization. Concurrently, Greenlane shareholders have approved several proposals, including a reverse stock split at a ratio between one-for-three and one-for-twenty-two, and an increase in authorized Class A common stock from 600 million to 1.8 billion shares. This development was formalized through an amendment filed with the State of Delaware. Additionally, Greenlane faces a delisting risk from the Nasdaq Global Market due to not meeting the minimum bid price requirement, with a hearing appeal planned before the April 9 deadline. The company’s securities are at risk of suspension if no appeal is filed, although an appeal would delay delisting pending a decision. These recent developments underscore Greenlane’s strategic financial maneuvers and the challenges it faces in maintaining its Nasdaq listing.

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