- Greenlane Holdings Inc (NASDAQ:GNLN) entered into a distribution agreement with Universal Distribution LATAM LLC to distribute its house brands in Latin America.
- Under the agreement terms, Greenlane has granted Universal Distribution the exclusive right to promote, market, distribute and sell the Greenlane Brands to retailers for resale in Chile, Uruguay, and Argentina.
- Greenlane has also granted the non-exclusive right to its brands via all wholesale channels in other territories in South America, Central America, and Mexico.
- Universal Distribution also secured the right to sell certain third-party brand products.
- Universal Distribution has committed to sales targets of at least $1.5 million of Greenlane Brands and third-party products in the first year, at least $1.9 million in the second, and at least $2.4 million in the third year.
- Price Action: GNLN shares traded higher by 5.25% at $0.33 on the last check Friday.
