Golden Leaf Holdings (CSE: GLH) (OTCQB: GLDFF), a premier, consumer-driven cannabis company specializing in retail, production, processing, wholesale, and distribution, is featured in a recent article titled, “How Oregon’s Cannabis Industry Is Getting Back ‘In the Green.’” The article notes that, since cannabis has been legal in Oregon for some time, shoppers are becoming more comfortable stopping by a dispensary, much like they do a liquor store, and cannabis sales have jumped 40% in the past year to more than $1 billion. The article also reported that both supply and demand have risen significantly, with production up 78% since 2019 and sales up by 150%. As a result, the state cannabis regulatory agency could issue up to 100 more producer licenses this month. In this promising setting, Golden Leaf is developing a dynamic portfolio built around the recognized brands of Chalice Farms, with a focus on health and wellness. “Further cementing its status as a leader in the Oregon market, [Golden Leaf] just signed a non-binding letter of intent to acquire a multistore chain,” the article stated. “It is expected that these stores would generate at least $10 million (USD) in annual run rate revenue (based on unaudited January 2021 results) and had a net operating margin of 11% (unaudited) during fiscal 2020. In a February 2021 media release detailing this news for investors, GLH’s Chief Executive Officer, Jeff Yapp called the acquisition of this retail chain a ‘transformational’ deal for the Company. . . . As the market grows, so too does opportunity for cultivators, as the OLCC noted that some growers, like GLH are targeting retailers’ top shelves to sell their product with the aim of raking in more cash. Golden Leaf plans to advance this plan through the aid of its recently proposed non-brokered private placement of up to 169,230,770 units priced at $0.065 (CAD) per Unit for aggregate gross proceeds of up to $11 million (CAD). The proceeds of the offering will be used by the company for strategic retail license acquisitions. When news of this financing broke, it helped build upon the recent momentum the stock has seen since late January when the Company closed its $3.4 million (CAD) financing.”
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About Golden Leaf Holdings Ltd.
Golden Leaf Holdings is a premiere, consumer-driven cannabis company specializing in production, processing, wholesale, distribution and retail, with seven dispensaries in Portland, Oregon. The company is committed to developing a dynamic portfolio built around the recognized brands of Chalice Farms, with a focus on health and wellness. Markets served include Oregon, California, Nevada and Washington. For more information about this company, visit www.GoldenLeafHoldings.com.
NOTE TO INVESTORS: The latest news and updates relating to GLDFF are available in the company’s newsroom at https://ibn.fm/GLDFF
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