SANTA ANA, Calif., April 10, 2018 - Kush Bottles, Inc., a provider of packaging, supplies, vaporizers, accessories and branding solutions for the regulated cannabis industry, announced today it has entered into a merger agreement to acquire Summit Innovations, LLC, a distributor of hydrocarbons to the legal cannabis industry based in Denver, Colo. Hydrocarbon gases are used to turn cannabis plants into oils, and this acquisition marks Kush Bottles’ entry into a new business vertical supplying gas to cannabis extractors. The transaction is expected to close by May 1, 2018, subject to confirmatory due diligence and certain closing conditions, including (among others) approval of the transaction by the equity holders of Summit Innovations, according to a press release.

Summit Innovations serves the rapidly growing concentrates segment of the cannabis industry and operates seven distribution facilities located across the country. Its four core products are high purity butane, propane, iso-butane and blends. Summit Innovations works closely with legal cannabis manufacturers to ensure cleanliness, product quality, safety and compliance during the extraction process. 

Nicholas Kovacevich, CEO and chairman of Kush Bottles, commented, “Summit Innovations supplies hydrocarbon gases specific to various cannabis extraction processes. Integrating this broad gas portfolio into our large distribution platform will further diversify our business by offering another unique product line that is highly complementary to Kush Bottles’ existing product inventory. This transaction, once closed, will simplify the supply chain for future and existing customers of Kush Bottles and Summit Innovations, allowing customers to fulfill all their concentrate refining and packaging needs more efficiently from just one source. This acquisition agreement aligns with Kush Bottles’ company strategy, to both grow organically and through acquisitions, further demonstrating our commitment to achieving long-term growth and diversifying our business within the cannabis space.”

Kush Bottles built its initial client relationships by providing much-needed cannabis packaging solutions and has since expanded into several other verticals within the industry. To focus efforts towards the concentrates segment of the cannabis industry signals that Kush Bottles is no longer solely a packaging business, but a leading provider of a diversified suite of products and services that are integral to the proper functioning of the cannabis supply chain. The company continues to evaluate new technologies and developments within the industry to determine how it can add the most value for its customers.

Under the terms of the merger agreement, Summit Innovations, LLC will merge into a wholly-owned subsidiary of Kush Bottles in exchange for 1,280,000 shares of Kush Bottles common stock and $3.2 million in cash, a portion of which will be held back to satisfy certain post-closing obligations. Kush Bottles will also issue up to an additional 1,280,000 shares of Kush Bottles common stock if the Summit Innovations business achieves certain earn-out milestones of up to $12.0 million in eligible revenues during the twelve-month period following closing.

BERKELEY, Calif., April 10, 2018 -- Jmîchaele Keller, president and CEO of Steep Hill, and Nadav Eyal, co-founder and CEO of Eybna Technologies Ltd, announced today the companies have jointly launched Delta, producing custom terpene formulations for incorporation into cannabis-derived products. Delta enables brands and manufacturers to customize and augment the terpene experience to realize a best-use profile for their customers. Initially, Delta will be available in California, Washington, New Mexico, Hawaii and Maryland, with numerous states and countries coming on-line in 2018, according to a press release.

Steep Hill is cannabis science, testing and analytics company. Eybna researches and develops terpene-based solutions, with the mission of bringing a native product experience to users of extracted and processed cannabis products by addition of terpenes. The partnership will enable Steep Hill's expertise in analytical testing for cannabis and cannabis-derived products to customize Eybna's production of terpene formulations for optimizing the medical benefits of cannabis.

Delta allows customers to recreate and restore the full plant terpene profile and can be used in any oil-based cannabis product, restoring the potency of the authentic flower to the convenience of extracts. Studies in cannabis science indicate that the relative potencies of terpenoids and cannabinoids in flower differ significantly from those in concentrates—cannabis extractions have a meaningfully changed chemotypical fingerprint than those of cannabis flower in its natural form. Delta offers customers the whole-flower experience with the convenience of a concentrate and a consistency that no other company can match.

"This is a transforming moment for both companies and fits our mission to expand more complete access to adult-use customers and medical patients around the world. Through this process concentrates can be infused with made-to-order terpene formulations, bringing together the essential materials lost during the extraction process to vaporizers, tinctures, oils and edibles. Contemporary cannabis science estimates over 400 terpenoids specific to cannabis—including myrcene, caryophyllenes, and pinene, whose medicinal and therapeutic qualities are well-documented," said Steep Hill CEO Jmîchaele Keller in making the announcement. "Instead of covering up the missing terpenes with an artificial flavoring, Delta provides customers the unique qualities, taste, aroma, and medical effects of the whole-flower strain they're looking for in concentrates, and the assurance that every purchase will deliver the consistency they've come to expect."

Eybna CEO Nadav Eyal remarked, "Delta is a unique core-technology for the production of consistent cannabis oil products, based on science and accurate analytics combined with formulating expertise.

All of our terpenes are derived from natural, non-cannabis plant origins that are chemically identical to the materials lost during the extraction process of cannabis. Delta is assembled with the highest purity, top-quality natural terpenes to enable a consistent experience, product after product, batch by batch. Customers will have the capability to not only restore, but to adjust any terpene formulation, creating brand-specific, tailored terpene batches, thereby offering consumers enhanced therapeutic qualities.

Instead of the difficulty and expense of bringing analytic and formulation experts to your in-house operation to restore terpene profiles to your products, we effectively bring the experts to you. Delta core-technology of testing and formulation will allow you to match the distinctive qualities of any cannabis strain, for a customer experience that's inimitable, consistent, and as unique as they are."

Los Angeles, CA, April 10, 2018: Running from April 20-22, 2018, the C27E: The Cannabis Blockchain Convergence will be the world’s first hackathon to develop blockchain solutions for the cannabis industry, aligning two of the fastest growing and most talked-about industries and laying the groundwork for their collaboration toward mutual prosperity. The event will be a 48-hour long coding sprint where 100 participants will form teams of 5-7 individuals to develop a solution for the cannabis industry using blockchain technology. Teams will then pitch to a panel of judges, who will determine the top three winners. Winners take home prizes including tokens, developer tools and C27E swag. C27E is a prime event for blockchain developers, cannabis business owners/operators, high-growth startups in both the crypto and cannabis spaces as well as crypto and cannabis investors, according to a press release.

The event is being organized by Matthew King, CEO & founder of Royal Cannabis Advisors and Playhouse Innovation Labs, the innovation strategy arm of VR Playhouse, led by CEO Ian Forester and CCO DJ Turner, and will be held at VR Playhouse’s Glassell Park location.

The judging panel--the culminating event of the weekend--will take place on Sunday, April 22, at 5:00 p.m. Winners will be announced at 7:00 p.m., followed by an after-party with refreshments and networking. Tickets for the judging panel can be purchased for $30 here.

Lack of access to banking and merchant services, lack of trust between operators, costly and burdensome seed-to-sale tracking software, and unsophisticated supply chain management software are all major challenges facing operators in the cannabis industry. Many of these seemingly intractable problems can be resolved in an elegant and effective manner by implementing solutions based on blockchain technology. C27E will bring together the world’s leading experts in cryptography and cannabis to develop blockchain solutions for the cannabis industry.

The judging panel has had early commitments from Richard Kimball, founder of Samphire Capital Management, a cannabis investment fund, and former Partner and Managing Director at Goldman Sachs, where he was Head of Global Healthcare Investment Banking; Tim Lewis, Venture Partner at DNA.fund, a leading ICO fund, and current CTO at Genezen, one of the largest cannabis cultivators in California; Donato Sferra, founder and managing partner at Hillcrest Merchant Partners, which invests in the cannabis, crypto, and mining space; Malik Spellman, former business partner of Freeway Rick Ross and peacemaker who settled the agreement between the Bloods and the Crips and starred in A&E’s show “The Peacemaker: LA Gang Wars”; and Adam Gillman, CEO & founder of FIELD Extracts, the number one Los Angeles cannabis extracts brand. Surprise announcements regarding judges, sponsors and performers will be made in the coming days.

Notes Forester, “With the introduction of Playhouse Innovation Labs, we are allowing our mission of user advocacy to grow beyond immersive content into the larger innovation space. Legal cannabis is our future, and its medical, industrial and social benefits can be radically democratized through blockchain business solutions that ease the friction currently faced by this emerging industry.”

Adds King, “Cannabis and blockchain are the two fastest growing industries globally. Both hold the promise of catalyzing disruptive transformation in our physical and financial well-being. The opportunity we have in our lifetimes is to leverage these technologies to radically re-envision society and make the world a better place for everyone.”

Developers interested in participating in the hackathon portion of the event can reach out to for additional information.

The second of two “town halls” on the ever-smoldering subject of cannabis in Sonoma takes place tomorrow, Wednesday April 11, to explain state and local policies on legalized cannabis, and gauge local preferences and priorities in cannabis regulation.

The first meeting was held on March 28, in the same venue – Andrews Hall at the Sonoma Community Center. This second meeting will focus on answering questions from the prior Town Hall, especially those related to the state-mandated cannabis buffer zones from schools and youth facilities as defined by local governments.

About 40 people were in the hall for that first meeting, as well as four of the five city councilmembers, two representatives from Muni Services – the consulting firm helping the city wade through the regulatory weeds – and a handful from city government, including Planning Director David Goodison and City Manager Cathy Capriola.

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