KushCo Holdings Inc. (OTCMKTS:KSHB) has announced a partnership with The Weldon Project’s Project Mission Green an advocacy group supporting imprisoned Cannabis offenders sentenced for nonviolent cannabis crimes.
KushCo supporting Mission Green Project
Mission Green’s goal is addressing collateral consequences and injustices of cannabis convictions and arrests. The advocacy group redresses the injustices and disparities via legislative programs and advocacy meant to secure the release of nonviolent marijuana offenders. They also help in the integration of individuals into society after incarceration through re-entry programs.
According to the partnership terms, the parties will collaborate in raising awareness and supporting Mission Green’s social equity and justice initiatives. Most importantly this will also include co-marketing efforts and KushCo’s commitment to donate 50% of the process from sales of certain KushCo products to Mission Green.This partnership is part of KushCo’s efforts of creating a significant and long-term positive impact against social injustice after its announcement of the paid time off the award to employees on November 3, 2020. The company has reaffirmed its commitment to supporting affected communities and in the industry against the “War on Drugs.”
KushCo posts positive EBITDA in Q4 2020
Recently the company announced its audited Q4 2020 financial results for the period ended August 31, 2020. The company said that it expected Q4 revenues to be between $25.5 million and $26.0 million which is an improvement from the previous guidance of $24 million to $26 million. The company expects revenue to increase sequentially attributed to the increase in sales to its top 100 customers comprising of leading licensed producers, multistate operators, and brands. KushCo expects adjusted EBITDA to be between $0.25 million and $0.75 million.
Nick Kovacevich, KushCo’s CEO and Chairman stated that the fourth quarter has been the most pivotal quarter for the company in its 10-year history. This is because KushCo executed its strategic plans, returned growth, and for the first time in three years posted positive adjusted EBITDA. Nick said that the focus of the company is aligning with and cross-selling to creditworthy and large LPs, MSOs, and leading brands.