TORONTO, ON--(Marketwired - March 08, 2017) - Golden Leaf Holdings Ltd. ("GLH" or the "Company") (CSE: GLH) (OTCQB: GLDFF), a leading cannabis oil solutions company built around recognized brands, is pleased to provide an update on business activity in the Oregon market.
Sales have picked up so far in the first quarter of 2017, as compared to the fourth quarter of 2016, primarily as a result of the introduction of GLH's Golden Gold Label Reserve product line, new Private Stash brand strain flavors, and branded Golden flower products. Launched in dispensaries across Oregon, Gold Label Reserve and the new Private Stash strain varieties are targeted at recreational customers looking for pure solvent-free and high potency cannabis oil products. The branded Golden flower products focus on meeting growing consumer demand for high quality full flower pre-rolled joints.
Don Robinson, CEO of Golden Leaf Holdings, commented, "The increase in sales that we have experienced so far in 2017 in Oregon is a direct result of our new product program and the fact that our products have been well received in the market and are being stocked on dispensary store shelves across Oregon. Moreover, after a difficult fourth quarter of 2016 across the entire Oregon market, we believe that we have recovered faster than others because of the forward planning initiatives we put into place earlier last year that have positioned us for the growth that we're experiencing."
About Golden Leaf Holdings:
Golden Leaf Holdings Ltd. is one of the largest cannabis oil and solution providers in North America. It's a leading cannabis products company in Oregon built around recognized brands. GLH leverages a strong management team with cannabis and food industry experience to complement its expertise in extracting, refining and selling cannabis oil.
This press release contains "forward-looking information" within the meaning of applicable securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the Company's future business operation, expectations of gross sales, the opinions or beliefs of management, and future business goals. Generally, forward looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to general business, economic and competitive uncertainties, regulatory risks including risks related to the expected timing of the Company's participation in the Adult Use market, market risks, risks inherent in manufacturing operations and other risks of the cannabis industry. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking information. Forward-looking information is provided herein for the purpose of presenting information about management's current expectations relating to the future and readers are cautioned that such information may not be appropriate for other purpose. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.