Thursday, March 16, 2017 8:55:52 AM
of Leading Vape Company – JuJu Joints
TORONTO, ONTARIO--(Marketwired – March 16, 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 announce that the Company has signed a binding Letter of Intent (LOI) to acquire the assets and business of JuJu Joints (http://www.jujujoints.com/home) (the “Transaction”).
JuJu Joints is 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.
Don Robinson, CEO of Golden Leaf Holdings, commented, “The JuJu Joint brand complements and expands the GLH brand portfolio and provides GLH with expanded access to distribution and markets in Nevada, California and Canada. The legal cannabis market is a target rich environment for a company like Golden Leaf that has a management team and board of directors with years of experience building businesses organically and through acquisition. While we will be deliberate in pursuing strategic acquisition opportunities, we do believe that such a strategy is in the best interests of Golden Leaf and our shareholders.”
Pursuant to the Transaction, JJ 206, LLC (“JuJu Co”) will receive cash consideration of US$2.25 million and, subject to adjustment in certain circumstances, an aggregate of US$2.25 million of common shares of GLH on the closing date of the Transaction.
The Transaction is subject to certain conditions, including CSE and regulatory approval.
Golden Leaf’s Competitive Strategy
The attached chart illustrates Golden Leaf’s strategy to build a market leader in branded cannabis products that is backed by real science and a commitment to lowest cost manufacturing.
I am only expressing my personal opinions or repeating public information from SEC filings or media outlets-which may or may not be correct. Do your own investigating before investing!
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