KushCo Hodlings Inc (OTC:KSHB), parent of several cannabis companies, announced the opening of an office in China to help it establish itself as a leading innovator of child-resistant packaging options for the legalized cannabis industry.
"We continue to invest in stateside production but also recognize that strong relationships and serious investments in China are extremely important for any robust supply to function efficiently," said Nick Kovacevich, the chief executive of KushCo Holdings.
KushCo is the parent for companies such as Kush Bottles, Kush Energy, The Hybrid Creative and Koleto Packaging Solutions. They provide a range of services and products for the regulated cannabis, CBD and other related industries.
The new office will be located in the Jiangbei district of Ningbo, China — one of China's oldest cities, with a history dating back to 4,800 BC. KushCo is opening an office in a country that fought an opium war in the 19th century against Britain. The British seized the port of Hong Kong during the war, and it was only handed back to Chinese control in 1997.
KushCo is and its subsidiaries maintain facilities in the five-largest US cannabis markets. It is based in Garden Grove, California.
"Having recently announced our Canadian market entry, this new China office marks our second international expansion effort, which continues to propel us toward our ultimate goal of becoming the premier ancillary provider for the global cannabis industry," he added.
Shares were trading 0.37% higher at US$5.40 by midday Wednesday.