Greenlane and PAX Renew Distribution Agreement
BOCA RATON, FL / ACCESS Newswire / June 4, 2025 / 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 the renewal of its distribution agreement with PAX, a pioneer in the design and development of premium cannabis vaporization technologies and devices. The agreement maintains Greenlane's distribution throughout the U.S. for PAX's dry herb device portfolio, which includes the PAX MINI and PAX PLUS-New York Times Wirecutter's 2022, 2023 and 2024 pick for Best Portable Vaporizer.
PAX has long been recognized for its science-backed innovation, iconic design, and uncompromising commitment to quality-delivering clean, consistent, and elevated cannabis experiences for more than a decade. Through the reinvigoration of this relationship, PAX will be able to expand product access in key U.S. markets through Greenlane's strong retail network, operational scale, and deep industry relationships. Together, both companies share a vision for high-quality products, responsible growth, and a thriving, consumer-centric cannabis industry.
"Cannabis vaporizers continue to be a growing market, and PAX offers an extensive line of unique award-winning devices and a high performing team that has built a loyal and growing consumer base. We look forward to continuing our long-standing collaboration with PAX, a relationship that significantly enriches and compliments our distinguished portfolio of brands and partners," said Barbara Sher, Chief Executive Officer for Greenlane.
"We're thrilled to re-energize our partnership with Greenlane, a company that's been a trusted collaborator in the cannabis accessory space for years," said Francois Nadon, Head of Global Wholesale at PAX. "As we prepare to launch some of our most exciting innovations yet, this year and beyond, Greenlane's scale and retail reach will help us ensure more consumers can access the high-quality experience PAX is known for."
About PAX
PAX is a leading global cannabis brand on a mission to enhance people's lives, honoring the power of the plant through pioneering innovation, peerless quality and premium design. For more than a decade, PAX has delivered high-performance products-crafted for precision, purity and consistency-that are trusted by millions. PAX is committed to making a positive impact and has been recognized by The New York Times' Wirecutter, TIME, Fast Company, GQ, Gear Patrol, High Times, and more. PAX, designed for those who aim higher.
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.
For additional information, please visit: https://investor.gnln.com. For additional information, please visit: https://gnln.com/.
Investor Contact:
IR@greenlane.com
or
TraDigital IRKevin McGrath+1-646-418-7002kevin@tradigitalir.com
Forward-Looking Statements
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.
SOURCE: Greenlane Holdings, Inc.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Associated Press
a minute ago
- Associated Press
WOOF DEADLINE REMINDER: Berger Montague Reminds Petco Health and Wellness Company (WOOF) Investors of Important Class Action Lawsuit Deadline
Philadelphia, Pennsylvania--(Newsfile Corp. - August 4, 2025) - Berger Montague, a national securities litigation law firm announces it is investigating potential securities fraud claims involving Petco Health and Wellness Company, Inc. ('Petco' or the 'Company') (NASDAQ: WOOF), following the recent filing of a federal securities class action lawsuit. The complaint alleges that Petco made false and misleading statements about the sustainability of its pandemic-driven growth and premium product strategy. These alleged misstatements contributed to significant declines in Petco's stock price, including a drop of over 20% on August 24, 2023, and further substantial losses following subsequent financial disclosures and executive departures during the Class Period from January 14, 2021 through June 5, 2025. The lawsuit also highlights Petco's efforts to adjust its product mix by adding lower-cost pet food options, which contrasted with prior public statements. This shift, along with multiple leadership changes and continued downward revisions to earnings guidance, underscored the severity of the Company's challenges and negatively impacted investor confidence. Investors who purchased or acquired Petco securities during the Class Period may, no later than August 29, 2025, seek to be appointed as a lead plaintiff representative of the class. If you are a Petco investor and would like to learn more about this action,CLICK HEREor please contact Berger Montague: Andrew Abramowitz at[email protected]or (215) 875-3015, or Caitlin Adorni at[email protected]or (267)764-4865. About Berger Montague Berger Montague, with offices in Philadelphia, Minneapolis, Delaware, Washington, D.C., San Diego, San Francisco, Chicago and Toronto, has been a pioneer in securities class action litigation since its founding in 1970. Berger Montague has represented individual and institutional investors for over five decades and serves as lead counsel in courts throughout the United States. For more information or to discuss your rights, please contact: Andrew Abramowitz, Senior Counsel Berger Montague (215) 875-3015 [email protected] Caitlin Adorni Berger Montague (267) 764-4865 [email protected] To view the source version of this press release, please visit
Associated Press
a minute ago
- Associated Press
GYRODYNE, LLC ANNOUNCES AGREEMENT TO SELL 49-ACRE PARCEL IN SMITHTOWN, NEW YORK AS PART OF STRATEGIC LIQUIDATION PLAN
ST. JAMES, N.Y., Aug. 04, 2025 (GLOBE NEWSWIRE) -- Gyrodyne, LLC (NASDAQ:GYRO), an owner and manager of a diversified portfolio of real estate properties, today announced that its subsidiary, GSD Flowerfield, LLC, has entered into a purchase and sale agreement (the 'Agreement') for the sale of approximately 49 acres of vacant land located within the Company's Flowerfield complex in St. James, New York (the 'Property') to B2K Smithtown LLC ('B2K'). The Agreement sets a purchase price range of $24,000,000 to $28,740,000, with the final amount subject to certain conditions and contingencies, and based on current information, the Company estimates the final price to be $28,740,000. 'This agreement marks a significant milestone in the execution of our strategic plan,' said Gary Fitlin, Chief Executive Officer of Gyrodyne. 'We believe this transaction aligns with our commitment to maximize value for our shareholders. The transaction may also enhance the marketability and value of our adjacent industrial park at Flowerfield, and the proposed development will bring long-term value to the Smithtown community. As we evaluated potential uses for the property, it became clear that there is a meaningful need for assisted living facilities in the region, which also has a low traffic impact to the community. In our discussions with B2K Development, we agreed on the importance of aligning with community values, and we are pleased that their proposed development will preserve over 40% of the property as open space.' As a result of the Agreement and associated assumptions, including anticipated site plan approval and additional projected costs incurred in connection with the revised liquidation timeline, the Company currently estimates its net asset value in liquidation ('NAV') as of June 30, 2025, to be approximately $32.6 million, with an estimated NAV per share of $14.83, an increase in NAV of $1.8 million or $0.84 per share. This represents an approximate 6% increase over the NAV reported in the first quarter 10-Q of $30.8 million or $14.01 per share. Peter Pitsiokos, Chief Operating Officer of Gyrodyne noted 'Our agreement with B2K Development reflects our confidence in a proven and trusted company whose successful residential developments throughout the region are the result of a corporate culture that works with surrounding neighbors and government authorities to ensure their projects complement and enhance the communities in which they are situated.' A JLL Capital Markets team led by Senior Managing Director Jose Cruz, Director Ryan Robertson and Vice Chairman David Leviton arranged the sale on behalf of Gyrodyne. The Agreement includes customary representations, warranties, and covenants. A copy of the full Agreement has been filed as Exhibit 10.1 to the Company's Current Report on Form 8-K filed with the Securities and Exchange Commission on August 4, 2025. About Gyrodyne, LLC Gyrodyne, LLC owns and manages a diversified portfolio of real estate properties comprising office, industrial and service-oriented properties in the New York metropolitan area. Gyrodyne owns a 63-acre site approximately 50 miles east of New York City on the north shore of Long Island, which includes industrial and office buildings and undeveloped property which is the subject of plans to seek value-enhancing entitlements. Gyrodyne also owns a medical office park in Cortlandt Manor, New York which is also the subject of a subdivision application. Gyrodyne's common shares are traded on the NASDAQ Stock Market under the symbol GYRO. Additional information about Gyrodyne may be found on its web site at Forward-Looking Statement Safe Harbor The statements made in this press release that are not historical facts constitute 'forward-looking information' within the meaning of the Private Securities Litigation Reform Act of 1995, and Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, both as amended, which can be identified by the use of forward-looking terminology such as 'may,' 'will,' 'anticipates,' 'expects,' 'projects,' 'estimates,' 'believes,' 'seeks,' 'could,' 'should,' or 'continue,' the negative thereof, other variations or comparable terminology as well as statements regarding the evaluation of strategic alternatives. Important factors, including certain risks and uncertainties, with respect to such forward-looking statements that could cause actual results to differ materially from those reflected in such forward-looking statements include, but are not limited to, risks and uncertainties generally relating to our efforts to enhance the values of our remaining properties and seek the orderly, strategic sale of such properties as soon as reasonably practicable, risks associated with the Article 78 Proceeding against the Company and any other litigation that may develop in connection with our efforts to enhance the value of and sell our properties, risks relating to our national marketing campaign led by JLL for the sale of our Flowerfield and Cortlandt Manor properties, risks associated with our purchase and sale agreement with B2K (and future purchase and sale agreements for our remaining properties that may be contingent on years-long regulatory contingencies) in light of our financial condition, community activism risk, proxy contests and other actions of activist shareholders, regulatory enforcement risk, risks inherent in the real estate markets of Suffolk and Westchester Counties in New York, the potential residual effects of the COVID-19 pandemic, lingering risks relating to the 2023 banking crisis and closure of two major banks (including one with whom we indirectly had a mortgage loan which the FDIC transferred in December 2023 to a new holder following the banks closure), ongoing inflation risk, ongoing interest rate uncertainty, recession uncertainty and supply chain constraints or disruptions, and other risks detailed from time to time in Gyrodyne's SEC reports. Contact: Gary Fitlin Chief Executive Officer Gyrodyne, LLC Phone: (631) 584-5400 [email protected]
Yahoo
28 minutes ago
- Yahoo
Why Shopify Stock Is Rising Today
Key Points Investors may be responding to the fact that the E.U. said it won't increase tariffs on the U.S. just yet. But slowing job growth and uncertainty around tariffs could eventually weigh on the economy. Shopify investors should keep a close watch on the company's upcoming quarterly results. 10 stocks we like better than Shopify › Shares of the e-commerce platform company Shopify (NASDAQ: SHOP) were rebounding today after stumbling on Friday after a weaker-than-expected jobs report. Investors regained some of their optimism for the company today, as the European Union says it's delaying some retaliatory tariffs on the U.S. for six months. Shopify investors are closely watching for any positive economic news as they prepare for the company's Q2 earnings report due out on Wednesday. Shopify stock was up by more than 5% this morning and had gained 4.8% as of 11:29 a.m. ET. Some positive news ahead of Shopify's upcoming earnings report Profit growth has been slowing for Shopify, and investors will get more details on which direction it's currently headed when the company reports second-quarter results on Wednesday. In the meantime, investors were responding positively to the E.U.'s announcement that it will hold off on any retaliatory tariffs against the U.S., as it tries to strike a trade deal. Investors were spooked on Friday by a weak jobs report for June and significantly revised jobs numbers for May, which caused a sell-off among many stocks on Friday. So any news that the U.S. isn't entering a new stage of a trade war with the E.U. caused investors to respond positively. Shopify's growth is dependent on how well companies are growing in the U.S. and how many new businesses are started. So any slowdown in the economy will weigh down the company's sales and earnings. The latest job data wasn't a good sign, but with today's gains, it appears investors aren't yet sold on the idea that the U.S. economy is slowing down. Shopify investors will know more very soon Wednesday's Q2 report will prove whether investors' optimism is misplaced or not. It's certainly not time to panic about the economy, but there are significant uncertainties right now as hiring slows down and the dust settles on new tariffs. It could take months for both to work their way through the economy, which means the next few quarters will be especially important to watch for Shopify investors. Should you invest $1,000 in Shopify right now? Before you buy stock in Shopify, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Shopify wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $624,823!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,064,820!* Now, it's worth noting Stock Advisor's total average return is 1,019% — a market-crushing outperformance compared to 178% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of August 4, 2025 Chris Neiger has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Shopify. The Motley Fool has a disclosure policy. Why Shopify Stock Is Rising Today was originally published by The Motley Fool
