Most cannabis companies that hit the mainstream are primarily manufacturers and dispensaries, but Kush Bottles Inc has a unique approach to the market and plans to expand to Canada.
Essentially, Kush Bottles Inc. (OTC:KSHB) provides products and services oriented around the packaging of cannabis products. This can include anything from jars and bags to empty vaporizer cartridges and “pre-rolled cones” for manufacturers to fill with their product. Kush Bottles does not have to directly deal with the cultivation of cannabis, which can often prove difficult for new competitors.
In a Press Release on Wednesday, August 15, 2018, Kush Bottles Inc. (OTC:KSHB) announced the launch of their Toronto, Ontario based subsidiary: Kush Supply Co.
KSHB opened Wednesday at $4.105 a share and has hiked over 10% to $4.32 a share. In the height of the early-2018 cannabis hype, KSHB hit highs of $8.51 a share. Since then, volume has died down significantly but is back on a very slight uptrend as the market gets closer to the spotlight.
The new subsidiary, Kush Supply Co., will be responsible for leveraging Kush Bottles Inc. current reputation to make a move into the Canadian market. Just recently, Canada passed nation-wide legalization on a recreational level, bringing 100s-of-1000s of new consumers into the market.
The recreational and medical cannabis industry has been on the rise since the start of legalization in various states, as well as Canada’s recent nation-wide legalization. We have seen growth and potential similar to the legalization of alcohol or the tech boom, and we are starting to see the money flow in.
Although Canada has passed legislation to legalize cannabis on a recreational level, nothing will take effect until October 17th of this year. This could mean the last quarter will be a very interesting one for Canadian focused cannabis companies.