KushCo Holdings Signs Agreement With De La Rue For Product Authentication
Per the agreement, KushCo will provide the cannabis industry “standard and custom branded anti-counterfeit security labels.”
The solution will also include unique IDs to secure product serialization and a digital verification system to allow authentication through the entire cannabis supply chain, the company said.
“It is our responsibility as a leader in the space to build consumer trust in addition to empowering governments and brands. Counterfeit products undermine the legitimate cannabis industry by hurting sales, cheating governments out of tax revenue, and eroding consumer confidence while putting their health at risk," KushCo CEO Nick Kovacevich said in a statement.
"KushCo wants to provide the tools for our clients to have greater transparency and accountability."
Click here for more information about the upcoming Benzinga Cannabis Capital Conference Oct. 22-23 in Chicago.
Andrew Clint, managing director of De La Rue’s authentication business, said the deal helps KushCo's clients safeguard their brand equity and reputation.
"As the legalized cannabis industry matures and companies look to protect their consumers, strengthen regulatory compliance and introduce global trace capabilities, we are happy to partner with KushCo to enable the provision of product authentication labels and anti-counterfeit services to their customers," Clint said in a statement.
KushCo Holdings is a company that provides ancillary products and services to the cannabis and hemp industries.
KushCo shares were down 5.4% at $3.33 at the time of publication Monday.
Don’t miss out on the top cannabis stories of the day. Click here to sign up for our daily insider newsletter.
© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.