PORTLAND, Ore., April 08, 2021 (GLOBE NEWSWIRE) — Golden Leaf Holdings Ltd. (CSE:GLH) (OTCQB:GLDFF) (“Golden Leaf” or the “Company”), a premier, consumer-driven hashish firm specializing in retail, manufacturing, processing, wholesale, and distribution, right now pronounces the closing of its buy of majority possession in Fifth & Root, Inc. (“Fifth & Root”), a nationally acknowledged CBD skincare model primarily based in California. Fifth & Root is offered on-line at www.fifthandroot.com, and in main retailers together with Ulta Beauty, Nordstrom, Anthropologie and Urban Outfitters. “The acquisition of these distribution channels significantly will increase the Company’s visibility and attain, and continues to advance our “Crawl, Walk, Run” strategic strategy. As we sit up for the eventual federal legalization of hashish, Fifth & Root’s commerce platform and partnerships will place the Company favorably to capitalize on the evolving market. Fifth & Root, a frontrunner in CBD magnificence, gives an distinctive line of clear and revolutionary merchandise. We’re thrilled so as to add them to Golden Leaf Holdings’ portfolio of merchandise and sit up for rising this model throughout the burgeoning CBD skincare area,” acknowledged Jeff Yapp, GLH’s CEO. Fifth & Root Founder and Abstrax CEO Max Koby mentioned, “Golden Leaf Holdings has a long-standing enterprise relationship with Abstrax and has confirmed they’ve a talented administration workforce, who’ve executed nicely and successfully expanded their product choices and markets with a give attention to high quality. As Golden Leaf continues to increase their footprint, we hope that this new partnership will enable them to supply revolutionary CBD merchandise nationwide by the most important and finest magnificence retail companions within the nation, to customers on the lookout for clear magnificence merchandise that harness the ability of botanicals.” The Fifth & Root model was designed with a ‘GenZennial’ buyer in thoughts. “We wished to seize the vibe of the revolutionary and experiential formulation within the branding and packaging,” mentioned Leilah Mundt, Founder of magnificence branding and gross sales company, Crème Collective. “The formulation are vivid and alive with subtle terpene blends that scent unimaginable, in addition to being a confirmed supply system for the energetic components. Our aim was to reflect this in all model touchpoints.” The Company can pay complete consideration valued at as much as US$1,687,500, consisting of a US$250,000 money cost paid at closing, and as much as 30,666,666 widespread shares of the Company (“GLH Shares”) representing eighty % possession. Ninety % of the consideration shares had been issued at closing and ten % of the GLH Shares can be issued if sure post-closing targets are met by Fifth & Root. The Company used funds readily available to fund the money portion of the acquisition value. Based on favorable phrases in Fifth & Root’s manufacturing and gross sales contracts the Company anticipates this enterprise unit will stay working capital impartial as gross sales develop. Golden Leaf owns and operates Oregon-based Chalice Farms, a health- and wellness-driven, vertically built-in hashish enterprise with seven dispensaries within the Portland metropolitan space. Fifth & Root at present gives six merchandise and is offered in over 425 retail areas all through the US on-line at www.fifthandroot.com and in main retailers, together with Ulta Beauty, Nordstrom, Urban Outfitters and Anthropologie, and on-line at www.fifthandroot.com. About Fifth & Root: Born from an obsession with vegetation and love of clear skincare, Fifth & Root was female-founded in 2018 and works to deliver transformative, spell-binding skincare to everybody. Passionate about vibrant skincare options made with the perfect of nature, Fifth & Root formulates its merchandise whereas omitting toxins and irritants together with poisonous chemical compounds, synthetics, GMO’s, parabens, phthalates, harsh preservatives, skin-stripping sulfates and animal byproducts. Unlike different CBD skincare corporations, Fifth & Root formulation are uniquely created and developed utilizing useful botanical components and parts by ladies scientists and herbalists within the analysis & growth and manufacturing services in Irvine, CA. Fifth & Root could be present in nationwide retailers together with Ulta Beauty, Nordstrom, Urban Outfitters, Anthropologie, Revolve and extra. Additional info is offered on their web site, Facebook and Instagram. About Golden Leaf Holdings: Golden Leaf Holdings is a premier consumer-driven hashish firm specializing in manufacturing, processing, wholesale, distribution and retail, with seven dispensaries in Portland, Oregon. The Company is dedicated to creating a dynamic portfolio constructed across the acknowledged manufacturers of Chalice Farms, with a give attention to well being and wellness. Markets served embody Oregon, California, Nevada and Washington. Visit http://www.glhmonthly.com for normal updates. Investor Relations:John VargheseExecutive ChairmanGolden Leaf Holdings [email protected] Disclaimers: Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that time period is outlined within the insurance policies of the Exchange) accepts duty for the adequacy or accuracy of this launch. This press launch comprises “forward-looking info” throughout the which means of relevant securities laws. Forward-looking info consists of, however isn’t restricted to, statements with respect to the Company’s future enterprise operations, the opinions or beliefs of administration and future enterprise objectives. Generally, ahead trying info could be recognized by the use of forward-looking terminology akin to “plans”, “expects” or “doesn’t anticipate”, “is anticipated”, “price range”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “doesn’t anticipate”, or “believes”, or variations of such phrases and phrases or state that sure actions, occasions or outcomes “might”, “might”, “would”, “would possibly” or “can be taken”, “happen” or “be achieved”. Forward-looking info is topic to recognized and unknown dangers, uncertainties and different elements which will trigger the precise outcomes, stage of exercise, efficiency or achievements of the Company to be materially completely different from these expressed or implied by such forward-looking info. These dangers embody however are usually not restricted to common enterprise, financial and aggressive uncertainties, regulatory dangers, market dangers, dangers inherent in manufacturing and retail operations akin to unexpected prices and manufacturing shutdowns, difficulties in sustaining model loyalty, and different dangers of the hashish trade. Although the Company has tried to determine necessary elements that would trigger precise outcomes to vary materially from these contained in forward-looking info, there could also be different elements that trigger outcomes to not be as anticipated, estimated or meant. There could be no assurance that such info will show to be correct, as precise outcomes and future occasions might differ materially from these anticipated in such statements. Accordingly, readers mustn’t place undue reliance on ahead trying info. Forward-looking info is offered herein for the aim of presenting details about administration’s present expectations regarding the longer term and readers are cautioned that such info is probably not applicable for different function. The Company doesn’t undertake to replace any forward-looking info, besides in accordance with relevant securities legal guidelines. This press launch doesn’t represent a suggestion of securities on the market within the United States, and such securities is probably not provided or offered within the United States absent registration or an exemption from registration or an exemption from registration. Chalice Farms doesn’t present medical recommendation and you need to seek the advice of together with your doctor previous to starting or persevering with the use of hashish or any well being and wellness program. These statements haven’t been evaluated by the Food and Drug Administration. The merchandise described above on this launch, are usually not meant to diagnose, deal with, treatment, or forestall any illness. To the fullest extent permitted by relevant legislation, no warranties, guarantees and/or representations of any variety, categorical or implied, together with however not restricted to warranties of merchantability or health for a specific function, are given as to the character, commonplace, accuracy, effectiveness, or in any other case of the knowledge Chalice Farms supplies in its digital wellness initiative, nor to the suitability or in any other case of the knowledge to your specific case or circumstances and also you expressly agree that your use of the Chalice Farms digital wellness initiative info is at your sole threat. Chalice Farms and the Chalice Farms brand are registered emblems of GL Management, Inc.
