As the cannabis industry continues its growth trend across North America, companies in the industry are scrambling to expand their operations and capitalize on the anticipated growth over the next few years. Marijuana businesses are in a frenzy to capture as much market share as possible, as early as possible. New and innovative products are also appearing on the market including advanced medicines, various type of edibles, and cannabis oils. Cannabis oils are becoming more popular, and more applications for oils are being discovered. GOLDEN LEAF HOLDIN COM NPV (OTCMKTS:GLDFF) specializes in producing cannabis oils and has recently taken significant steps to expand its production capacity.
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. Golden Leaf leverages a strong management team with cannabis and food industry experience to complement its expertise in extracting, refining and selling cannabis oil.
On June 2, 2017, Golden Leaf Holdings Ltd. announced the closing of its previously announced best efforts private placement offering of subscription receipts. Pursuant to the Offering, the Company has sold 125,892,857 Subscription Receipts, at a price of C$0.28 per Subscription Receipt for aggregate gross proceeds of C$35,249,999.96 million. Each subscription will be exchanged for one common share, and one-half of one common share purchase warrant exercisable to acquire common shares of the Company at a price of $0.37 per Warrant Share, until June 2, 2019, subject to adjustment in certain events.
Golden Leaf Holdings Ltd. announced on March 27, 2017, that the Company signed a binding Letter of Agreement to acquire a cultivation license and an extraction license in Nevada from NevWa, LLC (doing business as Grassroots). 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. Don Robinson, CEO of Golden Leaf Holdings, commented:
“Nevada is increasingly being recognized as one of the fastest growing cannabis markets in the U.S. The level of tourism in the state combined with the reciprocity provision in the state’s cannabis laws, positions Nevada to become one of the largest and most dynamic markets in the country. Cannabis brands that are on store shelves in Nevada can create brand loyalty throughout the North America. We are excited about this opportunity and confident that it will bring significant value to our Company and our shareholders.”
On March 22, 2017, Golden Leaf Holdings Ltd. announced that the Company signed a binding Letter of Agreement to acquire Chalice LLC (“Chalice Farms”), 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 also operates a chain of four branded retail dispensary stores in Oregon and was recently dubbed “Cannabis Store of the Year” at the 2017 Dope Magazine Industry Awards in Oregon.
Golden Leaf Holdings Ltd. also announced on March 26, 2017, that the Company signed a binding Letter of Intent to acquire the assets and business of JuJu Joints, a leading disposable cannabis oil vape e-joint product that utilizes proprietary vape technology and has established strong brand equity and market penetration in Washington state, Oregon, Nevada, California and Canada.
In Canada, Golden Leaf Holdings Ltd. announced that the Company signed a binding Letter of Intent on March 14, 2017 to acquire Canadian based Medical Marijuana Group Corporation. Medical Marijuana Group represents a strategic acquisition for Golden Leaf and provides key benefits to the Company including leverage for the Company’s growing, extraction, refining, sales and marketing expertise to provide a competitive advantage and head start with cannabis oil and related products in the Canadian market.
GLDFF stock has been on a downward trend since late-October of 2016 when it made its all-time high of $.6896 on October 19, 2016 after a run-up that started in September of 2016. At present, the stock is trading at $.2230 near a very solid support level of $.20. Volume remains strong. Financial results for the first quarter ended March 31, 2017 report sales of the Company’s brands in Oregon and Washington state of nearly $6M CAD, showing a 33% increase versus Q1 2016, and more than a 70% increase versus the fourth quarter of 2016 (“Q4 2016”). Current market capitalization for Golden Leaf Holdings Ltd. is $27.79 million, on 113.41 million shares outstanding as of June 2, 2017.
The strategic acquisitions that Golden Leaf Holdings Ltd. is in the midst of closing will have a positive impact, and puts the Company in a great position to capitalize on the rapidly growing cannabis industry. We will be updating our subscribers as soon as we know more. For the latest updates on GLDFF, sign up below!
Disclosure: We have no position in GLDFF and have not been compensated for this article.