UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

 

Washington, D.C. 20549

 

FORM 8-K

   

CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): February 11, 2019

   

KUSHCO HOLDINGS, INC.

(Exact name of registrant as specified in its charter)

 

Nevada 000-55418 46-5268202
(State or other jurisdiction
of incorporation)  		(Commission File Number)  (IRS Employer Identification No.) 

 

11958 Monarch Street, Garden Grove, CA 92841
(Address of principal executive offices) (Zip Code)

 

Registrant's telephone number, including area code:   (714) 243-4311

 

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company x

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. x

 

 

 

 

 

 

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

 

The disclosure set forth below under Item 8.01 is hereby incorporated by reference into this Item 5.02.

 

Item 8.01. Other Events.

 

On February 11, 2019 , KushCo Holdings, Inc. (the “Company”) issued a press release announcing changes to its executive leadership team. Effective March 1, 2019, Jim McCormick will step down from his role as Chief Operating Officer (“COO”) of the Company to pursue other opportunities. Rodrigo de Oliveira will be promoted from his current role as Vice President of Operations of Kush Supply Co., a subsidiary of the Company, to serve as Interim COO of the Company. Jason Vegotsky, currently President of Kush Supply Co., will be promoted to Chief Revenue Officer of the Company, and Carmen Lam, currently Regional Sales Director of Kush Supply Co., will be promoted to Senior Vice President of Kush Supply Co.

 

The press release issued by the Company to announce the foregoing leadership changes is furnished as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference.

 

The information in this Item 8.01 of this Current Report on Form 8-K, including Exhibit 99.1 furnished herewith, shall not be deemed “filed” for purposes of Section 18 of the United States Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the United States Securities Act of 1933 or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

  

Item 9.01. Financial Statements and Exhibits.

 

(d) Exhibits.

 

     
Exhibit
Number 		  Title
99.1   Press Release of KushCo Holdings, Inc. dated February 11, 2019.

   

 

 

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

    KUSHCO HOLDINGS, INC.
    (Registrant)
     
February 11, 2019   /s/   Nicholas Kovacevich
(Date)   Nicholas Kovacevich
Chairman and Chief Executive Officer

 

 

 

 

 

INDEX TO EXHIBITS

 

     
Exhibit
Number 		  Description of Exhibit
99.1   Press Release of KushCo Holdings, Inc. dated February 11, 2019.

 

 

 

Exhibit 99.1

 

KushCo Holdings Announces Strategic Changes to its Executive Leadership Team

 

GARDEN GROVE, Calif., February 11, 2019 – KushCo Holdings, Inc. (OTCQB: KSHB) (“KushCo” or the “Company”), the parent company of innovative cannabis industry leaders such as Kush Supply Co., Kush Energy, The Hybrid Creative, and Koleto Innovations, today announced several changes to its executive leadership team.

 

Effective March 1, 2019, Jim McCormick will step down from his role as Chief Operating Officer (“COO”) of KushCo to pursue other opportunities. Rodrigo de Oliveira will be promoted from his current role as Vice President of Operations of Kush Supply Co., to take over as Interim COO of the Company. Jason Vegotsky, currently President of Kush Supply Co., will be promoted to Chief Revenue Officer of the Company, and Carmen Lam, currently Regional Sales Director of Kush Supply Co., will be promoted to Senior Vice President of Kush Supply Co.

 

Nick Kovacevich, Chief Executive Officer at KushCo, commented, “I would like to thank Jim for his strong leadership, hard work and dedication over the past couple of years. With the help of Jim’s oversight, the Company has successfully transformed into a rapidly expanding business with a diverse product offering providing solutions critical to the evolving regulated cannabis industry. This is a great accomplishment that offers us a competitive advantage for driving revenue and customer growth. We’re excited to promote Rodrigo to the role of Interim COO. With over 18 years of professional experience in global supply chain management at Fortune 100 companies, Rodrigo brings an exceptional level of operational excellence critical for executing on the Company’s larger hyper revenue growth and margin expansion initiatives.”

 

Mr. Kovacevich continued, “We are very pleased and excited to announce the promotions of Jason, Rodrigo, and Carmen to these significantly impactful leadership roles. During their time at the Company, they have all consistently demonstrated their ability to execute on critical strategic initiatives and have showcased a passion for KushCo’s success. Since Jason began leading our Kush Supply division during our third quarter of fiscal 2018, we have experienced record organic growth quarter over quarter, positioning us as one of the top revenue-producing companies in the regulated cannabis industry. As our Chief Revenue Officer, Jason will be positioned to further drive exceptional sales results throughout the entire organization. Carmen has served in several critical roles since joining the company in 2017.  She is a proven sales leader with a unique understanding of the regulated cannabis industry. We look forward to utilizing her strengths in a more significant leadership role to further increase value to the company and our customers.”

 

To be added to the distribution list, please email ir@kushco.com with “Kush” in the subject line.

 

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About KushCo Holdings, Inc.

 

KushCo Holdings, Inc. (OTCQB: KSHB) is the parent company to a strategically integrated group of business units that are transformative leaders across several industries. KushCo’s subsidiaries and brands provide exceptional customer service, product quality, compliance knowledge and a local presence in serving its diverse customer base.

 

KushCo’s brands include Kush Supply Co., a dynamic sales platform that is the nation’s largest and most respected distributor of packaging, supplies, and accessories to the cannabis and CBD industry, Kush Energy, which provides ultra-pure hydrocarbon gases and solvents, Hybrid Creative, a premier creative design agency for clients across several industries, and Koleto Innovations, the research and development arm driving intellectual property development and acquisitions.

 

Founded in 2010, KushCo has now sold more than 1 billion units and regularly sells to more than 5,000 legally operated medical and adult-use dispensaries, growers, and producers across North America, South America, and Europe. KushCo’s subsidiaries maintain facilities in the five largest U.S. cannabis markets as well as having a local sales presence in every major U.S. cannabis market.

 

 

 

 

KushCo strives to be the industry leader for responsible and compliant products and services in the legal cannabis and CBD industry. The Company has been featured in media nationwide, including CNBC, Los Angeles Times, TheStreet.com, Entrepreneur, and business magazine Inc. While KushCo provides products and solutions to customers in the cannabis and CBD industries, it has no direct involvement with the cannabis plant or any products that contain THC or CBD.

 

For more information, visit www.kushco.com or call (888)-920-5874. For more information, visit www.kushco.com or call (888)-920-5874.

 

CONTACTS:

 

Media Contact:

Anne Donohoe / Nick Opich
KCSA Strategic Communications
212-896-1265 / 212-896-1206
adonohoe@kcsa.com / nopich@kcsa.com

 

Investor Contact:

Phil Carlson / Elizabeth Barker
KCSA Strategic Communications
212-896-1233 / 212-896-1203
ir@kushco.com

 

 

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