Greenlane (GNLN) said Tuesday that it signed a multiyear distribution agreement with Veriteque USA, a manufacturer of detection tests for narcotics and explosives.
Under the terms of the deal, Greenlane will distribute Veriteque's field test kits across the US, targeting institutional retail, education, law enforcement, and corporate accounts. The main focus of the agreement is for SwabTek and Verifique tests, the company said.
Veriteque's San Diego facility produces hundreds of thousands of tests daily and supplies major retailers and schools, airports, and law enforcement agencies worldwide, the company added.
Shares of Greenlane were down more than 5% in recent trading activity.
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