Greenlane announces update on plan to generate $30 million in non-dilutive liquidity

Boca raton, fl / accesswire / june 22, 2022 / greenlane holdings, inc. ("greenlane" or "the company") (nasdaq:gnln), one of the largest global sellers of premium cannabis accessories, child-resistant packaging, and specialty vaporization products, today provided an update on its strategy to generate more than $30 million in liquidity, as part of its previously announced strategic plan to reduce its cost structure, accelerate its path to profitability, and increase liquidity on a non-dilutive basis. as previously announced in march 2022, this strategy to generate $30 million in non-dilutive liquidity entails the following primary components: securing an asset-based loan to support working capital needs; selling the company's headquarters building in boca raton, florida; and, discontinuing and disposing of non-core and lower-margin inventory.
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