GOLDEN LEAF HOLDIN COM NPV (OTCMKTS:GLDFF)
Cannabis

GOLDEN LEAF HOLDIN COM NPV (OTCMKTS:GLDFF) Continues Its Aggressive Expansion Strategy

Companies in the cannabis industry continue to try to outdo each other in an effort to secure as much cannabis market share as possible in the early stages of the emerging cannabis industry. It is crucial that companies establish a foothold in the market and get their brands as much exposure as possible early in the “game” as new customers are exposed to legal cannabis for the first time. Golden Leaf Holdings Ltd (OTCMKTS:GLDFF) continues to effectively execute its expansion strategy.

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.

The most important recent development for Golden Leaf Holdings Ltd. was the appointment of a new Chief Executive Officer on July 19, 2017. The Company announced the resignation of Don Robinson as its Chief Executive Officer and as a member of the board of directors. The Company soon after announced that William Simpson, the current President of Golden Leaf Holdings Ltd., was appointed as the new Chief Executive Officer. Mr. Simpson commented:

“I am very excited about this opportunity to act as the Company’s CEO and I look forward to focusing on bringing cost efficiencies and streamlining the Company’s operations in an effort to increase shareholder value.”

In our last review of Golden Leaf Holdings Ltd on June 6, 2017, we noted several financing and acquisition transactions that were in progress. With regards to the private placement offering that we mentioned in our last review, the Company announced that it satisfied the outstanding conditions for the release of the escrowed funds from the previously announced C$35 million brokered private placement of subscription receipts, which closed on June 2, 2017.

We also mentioned the initiation on March 22, of the Chalice Farms LLC acquisition in Oregon. On July 10, 2017 the Company announced that it entered into definitive agreements in connection with the closing of the acquisition. Chalice Farms LLC is a leading vertically integrated cannabis business in Oregon, involved with the cultivation, extraction, refinement, marketing and sales of cannabis flower, edibles and oils. Chalice Farms has developed a branded portfolio of cannabis products that have generated significant market penetration and brand equity within the Oregon market. In addition, Chalice Farms operates a chain of four branded retail dispensary stores in Oregon.

The binding Letter of Intent on March 14, 2017 to acquire Canadian based Medical Marijuana Group Corporation that we also mention in our last article has led the Company to enter into a definitive agreement in connection with the acquisition of all of the issued and outstanding shares of Medical Marihuana Group Corporation (“MMGC”) and Medical Marihuana Group Consulting Ltd. (“MMCC”). MMGC has filed an application with Health Canada for a cultivation license.

Perhaps of greatest consequence is the binding Letter of Agreement on March 27, 2017, to acquire a cultivation license and an extraction license in Nevada indirectly from NevWa, LLC (doing business as Grassroots), which we also mention in our last article. On June 07, 2017 Golden Leaf Holdings Ltd announced the closing of the acquisition. NevWa’s cultivation and extraction license, based out of Sparks, Nevada, allows for the distribution and sale of products across the state of Nevada, including in Las Vegas and Reno. It allows the Company to gain first mover advantage by receiving a prized license in Nevada to grow, process and distribute branded marijuana products.

GOLDEN LEAF HOLDIN COM NPV (OTCMKTS:GLDFF) Continues Its Aggressive Expansion Strategy

GLDFF stock has been trading near a strong support level of $.2016 that goes back to the beginning of last May. The stock is currently trading at $.1890. Financial reporting remains unchanged from our last review. Current market capitalization stands at $21.43 million, on 113.41 million shares outstanding as of August, 2017.

Golden Leaf Holdings aggressive expansion will begin to pay off in the form of shareholder value once all the acquisitions begin generating revenue. We will be updating our subscribers as soon as we know more. For the latest updates on GLDFF, sign up below!

Image courtesy of The Flag Shop via Flickr

Disclosure: We have no position in GLDFF and have not been compensated for this article.

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GOLDEN LEAF HOLDIN COM NPV (OTCMKTS:GLDFF) Continues Its Aggressive Expansion Strategy
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