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Washington State Liquor and Cannabis Board Allows Release of $1.2 Million of Cannabis after Test Shows No Pesticide Issues
TORONTO, ONTARIO-(Marketwired – June 28, 2016) – Golden Leaf Holdings Ltd. ("GLH" or the "Company") (CSE:GLH), is pleased to announce that on Thursday, June 23, 2016 the Washington State Liquor and Cannabis Board (WSLCB) released approximately $1.2 million USD of cannabis it had earlier ordered held after tests found no pesticide residues present, clearing the way for BMF of Washington to market the product to Washington retailers.
The WSLCB initially ordered the cannabis in question be placed on an administrative hold after WSLCB testing showed plant clippings contained residue from pesticides not approved for use on cannabis. BMF contested that order believing that the product was not treated with the pesticides in question. BMF asked - and the WSLCB agreed - to retest the approximately 800 pounds of cannabis. That second round of testing showed that the cannabis was not, in fact, treated with any of the pesticides in question.
The release order allows BMF to finish production of the cannabis and market it to retailers throughout Washington under the Liberty Reach brand, which it expects to do in the coming weeks.
The WSLCB has continued its administrative hold of a smaller tranche of cannabis, and has ordered its destruction based on the first round of state testing. BMF is considering appealing that order and asking for a similar retesting process. The state also extended the hold to include a small quantity of cannabis concentrate.
“We understand and appreciate that the WSLCB has been given the daunting task of creating and enforcing a completely new set of standards and rules for an industry that is growing very, very quickly,” said Peter Saladino. “We appreciate their willingness to go the extra step to ensure fairness in dealing with responsible growers as they’ve done with BMF.”
Since the issue began, BMF has taken an industry-leading role in providing its retailers and their customers with only the highest quality cannabis along with adopting first-of-their-kind purity and transparency protocols. Among many steps, BMF has implemented a rigorous independent testing regimen that far exceeds state requirements, allowing consumers to view quality and pesticide-compliance test results online for each retail package of cannabis.
The WSCLB ordered the administrative holds on December 11, 2015 and February 11, 2016.
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.
For further information, please contact:
Paul Searle
T: 778.240.7724
E:pauljsearle@shaw.ca
Disclaimer: This press release contains "forward-looking information" within the meaning of applicable Canadian 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 early roll out of oils and edibles, 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.
Copyright © 2016 Golden Leaf Holding Ltd, All rights reserved.
For anyone expecting rational, while volatile, markets today, I have three words: Plunge Protection Team.
Heliospectra: Let There Be Light
http://seekingalpha.com/article/3965449-heliospectra-let-light
Heliospectra sales up as US cannabis farms adopt LEDs
08 Sep 2015
Swedish provider of horticultural LED lighting systems benefiting from changes to US drug laws.
Pot plant: using LEDs tailored for cannabis growth
Pot plant: using LEDs tailored for cannabis growth
Heliospectra, a small Swedish company specializing in LED systems for growing plants indoors, says that its sales have doubled over the past year – with demand booming as US growers of cannabis become the latest customers to adopt the technology.
The Gothenburg-headquartered firm has just reported financial results for the first half of 2015. Revenues of just under SEK 5.4 million ($0.64 million) were up 113 per cent on the same period last year.
And although operating costs remain high in comparison, with the company posting a net loss of more than SEK 14 million for the six-month period, Heliospectra has recently attracted a private investment of $3 million off the back of sales to the expanding band of cannabis growers in the US.
Commenting on last month’s rights issue, CEO Stafan Hillberg said: “The private placement is done [sic] in order to cover production and purchasing necessary due to the increase in sales. Heliospectra has lately received several breakthrough orders in the US and we anticipate continued increase in sales of our products.”
That is a direct result of the changes to state laws in the US that has seen the sale and distribution of cannabis legalized in Alaska, Colorado, Oregon and Washington. In July, the company said it had received its largest order to date: a $0.7 million contract to provide cannabis growers in Las Vegas with LED lighting systems.
“Not only is this our largest deal to date, it is one of the largest indoor, horticultural LED installations in the world," Hillberg said.
Heliospectra, which is exhibiting at this week’s Native American Marijuana and Hemp Conference & Expo in San Diego, California, sells a series of systems - each featuring more than a hundred LEDs. They are said to give growers control over the intensity and wavelength of light emitted, making it possible to create a spectrum optimized to the needs of different plant species.
Cannabis drives growth
Like all LED lighting, the systems also consume far less electrical power than equivalent lamps based on conventional lighting technologies. Energy is a significant cost for indoor growers, with Heliospectra claiming that the plant sciences laboratory at Cambridge University in the UK is the institution's largest single consumer of electricity.
Since it was set up in 2006, Heliospectra’s customer base has typically comprised university and "agrotech" company laboratories, while similar technology was recently used on board the International Space Station to grow lettuce eaten by astronauts.
Commenting on the latest half-yearly results, Hillberg said that one of the firm’s most prominent customers was Germany’s DLR space agency, with whom it is collaborating on a European Union-funded project. MIT’s famed Media Lab and Kyoto University in Japan are among its other high-profile partners.
But the demand for cannabis growth in the US – for both medical and recreational purposes – looks like it could be one to stimulate much more rapid sales growth than the firm has posted so far.
According to Hillberg, the company received its first order worth more than SEK 1 million from cannabis growers in Washington State in the first quarter of 2015.
Then in the second quarter, Heliospectra began co-operating with Dixie Brands and American Cannabis, said to be two of the largest brands involved in medical cannabis growth. Hillberg believes that the US market for medical applications of the drug will exceed $10 billion by 2017, representing growth of some 700 per cent since 2013.
“Today, 23 states have approved cultivation for medical purposes and further states are expected to follow suit,” he wrote. “We can also see plans for approvals in other countries such as Germany, the UK and Australia, and expansions in Israel among others.”
Golden Leaf Holdings Ltd. Announces Trailing 12-Month Revenues
for Oregon and Washington Brands
TORONTO, ONTARIO - (Marketwired – June 21, 2016) – Golden Leaf Holdings Ltd. ("GLH" or the "Company") (CSE:GLH), is pleased to announce that combined trailing 12-month revenues through March 2016 or Q1 2016 for the respective brands of the Company and strategic partner BMF Washington (“BMF”) are $16,555,870 USD ($21,185,636 CDN). The significant numbers underscore and validate the success and traction that GLH and BMF’s brands have achieved with customers in both the Oregon and Washington state cannabis marketplaces.
Substantial revenue growth and a focus on leveraging strategic cannabis brands further illustrates that GLH has become one of the best-of-breed cannabis companies in North America. With the lack of currently established brands in the cannabis industry, the Company believes it is best positioned to capitalize on this opportunity by developing a brand portfolio across multiple price points to meet the needs of consumer segments in both recreational and medicinal markets. GLH expects to continue building strength in its respective product categories because of product innovation, strong customer loyalty and brand recognition.
GLH’s showed impressive trailing 12-month revenues with $11,082,625 USD in Oregon ($14,180,217 CDN). BMF’s 12-month revenue in Washington State stands strong at US$5,473,245 ($7,003,017 CDN).
Don Robinson, Chief Executive Officer of GLH commented, “Our solid revenue numbers driven by growing consumer demand demonstrate that cannabis is increasingly becoming a branded business. The power and value of our collective brands are making a difference as GLH continues to capture additional market share. As with consumer goods branding, consumers are faced with choices about what cannabis to consume when they walk in to a retail outlet. Our mission is to revolutionize cannabis marketing as we know it today and provide consumers with a more premium and lifestyle oriented brand experience focused on health and well-being.”
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.
For further information, please contact:
Golden Leaf Holdings Ltd. Investor Relations:
Paul Searle
T: 778.240.7724
E:pauljsearle@shaw.ca
Gold and silver slam-down this morning! You can almost hear the computer hard drives whirring and straining as the target paper contracts are mercilessly monkey-hammered down to fresh depths with the dark pools of endless CB fiat liquidity. It's good to be king.
LED Company Heliospectra Gains Cannabis Grower Cred
http://cannabisnowmagazine.com/grow/led-company-heliospectra-gains-cannabis-grower-cred
Thank goodness only one important person had to die in order to ensure Britain remains in the EU, and of course, to keep CB hegemony in place for a while longer. In other news, gold and silver will be on sale today.
Senators OK Banking Access for Marijuana Businesses
Read more http://www.marijuana.com/blog/news/2016/06/senators-ok-banking-access-for-marijuana-businesses/
Dove is the new hawk.
Fed can sit on hands as current economic trends likely to persist, Bullard says
http://www.marketwatch.com/story/fed-can-sit-on-its-hands-as-current-economic-trends-likely-to-persist-bullard-says-2016-06-17
British lawmaker shot dead, EU referendum campaigns suspended
http://www.investing.com/news/world-news/british-lawmaker-injured-in-attack-at-advice-surgery:-bbc-408821
I do, and sooner rather than later.
I think we may be witnessing the final death throes of gold and silver price manipulation by the financial elites of the world. The markets seem very nervous.
Folks, "the centre cannot hold" much longer. It just has that feeling.
Golden Leaf Holdings Ltd. Announces First Planting from Contract Grow
TORONTO, ONTARIO--(Marketwired – June 16, 2016) – Golden Leaf Holdings Ltd. ("GLH" or the "Company") (CSE:GLH), is pleased to announce in connection with the Company’s strategic contract trim buying strategy and supply agreements, that the first plantings of contract growers went into soil on Thursday June 9, 2016. The plants are expected to be harvested for use in October 2016.
GLH has developed a model where contracted growers provide feedstock to GLH in exchange for a guaranteed demand and a set price. In exchange, growers follow strict GLH practices that include growing conditions, restrictions on pesticide use, which strains will be planted and guidelines on growing techniques and processes. This helps GLH define the market for flower and trim, leverage cost effective trim purchases supporting higher overall product margins, provides consistent high quality, strain based raw materials and meets market demand for consistent, predictable supply.
Don Robinson, GLH CEO commented, “We want to congratulate our suppliers who have partnered with us on this project. They share our vision for the future of the industry and have made a commitment to supporting the next wave in the development of this market.”
The contracted supplier model has solidified GLH as an industry leader and has made other competitors scramble to catch up. Guaranteed consistent, high quality, low cost materials will be a key differentiating factor in the industry moving forward and GLH is a brand leader. Robinson added, “Strategic trim buying contracts are key to the Company’s value-added manufacturing business model and allow GLH to distance itself from competitors.”
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.
For further information, please contact:
Paul Searle
Investor Relations
T: 778.240.7724
E:pauljsearle@shaw.ca
Disclaimer: This press release contains "forward-looking information" within the meaning of applicable Canadian 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 early roll out of oils and edibles, 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.
Copyright © 2016 Golden Leaf Holding Ltd, All rights reserved.
GOLDEN LEAF HOLDINGS LTD. ANNOUNCES THE COMPLETION OF THIRD TRANCHE OF PRIVATE PLACEMENT OF CONVERTIBLE DEBENTURES
TORONTO, June 15, 2016 – Golden Leaf Holdings Ltd. ("GLH" or the "Company") (CSE: GLH), is pleased to announce the first closing of the third tranche of its previously announced private placement of convertible senior unsecured debentures of the Company (the “Debentures”) which were issued at a price per Debenture of C$1,000, for aggregate gross proceeds of approximately C$318,000 (the “Offering”). This tranche is expected to be part of a total of C$2.1 million to be invested by insiders. The insider participants are purchasing the Debentures at the same convertible note price of C$0.67 that was part of the initial closing.
Combining previous tranches and this round of funding, a total of approximately C$7.856 million has been raised, with insiders subscribing for C$3.478 million. The Company intends to use the net proceeds of the Offering for operational and working capital purposes.
Don Robinson, CEO, stated, “We are pleased with the additional funding support that our insiders provided. The Company is fortunate to have partners who have such a large stake in the company as evidenced by insiders owning 46% of outstanding shares.”
The Debentures and underlying common shares will be subject to a statutory hold period in Canada of four months plus one day from the closing date pursuant to Canadian securities laws. The securities mentioned herein have not been and will not be qualified by prospectus for sale to the public under applicable Canadian securities laws and will be subject to transfer and selling restrictions in certain jurisdictions, including the United States and Canada.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the United States Securities Act of 1933, as amended, and applicable state securities laws.
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 growing, extracting, refining and selling cannabis oil.
For further information, please contact:
Golden Leaf Holdings Ltd. Investor Relations:
Paul Searle
T: 778.240.7724
E:pauljsearle@shaw.ca
TD Ameritrade just listed the new SSRI shares in my account.
I like to think of my mistakes as "teachable moments". Now, if I can just stop making the same ones over and over, they really will be.
I'm an active trader and being retired helps on the tax issue, but I'm adding you to my "follow" list because you bring up some very good points.
I've gotten impatient and skeptical in my old age. I know I'm being a curmudgeon, but fortunately, I bought a truckload of SSRI Jan $7 options back when they were dirt cheap. Count my blessings, right?
I'm not worried, just annoyed. I'll get over it.
TD Ameritrade is still showing the old CLGRF symbol today. It's a little annoying to not to be able to buy or sell.
The volume will likely provide you with an answer. In the long run, it probably won't make much difference, but trading today may be a short-term strategy for anyone looking to capitalize on any confusion - buying or selling.
Presumably, this is the last day we trade as CLGRF. It will be interesting to see the volume of trading on this final day.
Silver Standard acquired all of the outstanding common shares of Claude Resources for total consideration of approximately 37.4 million Silver Standard common shares and cash consideration of $0.2 million. Silver Standard now has approximately 118.4 million shares issued and outstanding. Claude Resources shares are expected to be delisted from the Toronto Stock Exchange and cease to trade on the OTCQB on or about the close of trading on June 6, 2016.
American Vanadium Announces Update on Letter of Intent
1
VANCOUVER, BC / ACCESSWIRE / May 24, 2016 / AMERICAN VANADIUM CORP. (TSXV: AVC) (OTC: AVCVF) ("American Vanadium" or the "Company") reports that, further to its press release of January 11, 2016, the Letter of Intent to acquire DMG MORI's wholly owned subsidiary, GILDEMEISTER energy storage GmbH ("GES"), manufacturer of the CellCube vanadium flow energy storage system, has expired. Due to market conditions, the Company was unable to secure the necessary financing to fund the acquisition of GES pursuant to the terms of the Letter of Intent. American Vanadium will continue to be the North American sales agent for the CellCube.
Corporate Update
The development of the grid level energy storage market has not met the expectations of industry and Company forecasts and, as a consequence, the Company does not believe the Gibellini vanadium deposit will have strategic value as a supply of vanadium electrolyte for an extended period of time. As a result, the Company has decided to discontinue developing and permitting the Gibellini property and one of the main Gibellini leases has reverted back to the owner. Therefore, unless the Company is able to negotiate reasonable terms to re-acquire this lease, the Company may relinquish other leases which require annual payments by December 31, 2016 and claims which expire August 31, 2016 in the area.
The Company has a significant working capital deficiency, and it needs to reorganize and streamline its activities. Further equity financing and settlement of its accounts payables are required to sustain its operations.
The Company applied for a resumption to trading with the TSX Venture Exchange (the "Exchange") and advised the Exchange that it is not meeting the requirements for a Tier 1 issuer. The Exchange has advised that soon after the dissemination of this news release that it would be issuing a bulletin resuming the trading of the securities of the Company as a Tier 2 issuer.
At the request of the TSX Venture Exchange, the Company also announces that it is suspending its rolling stock option plan (the "Plan") however, the current outstanding options will continue to be governed by the Plan.
About American Vanadium Corp.
American Vanadium is the Master Sales Agent in North America for GILDEMEISTER energy solution's CellCube energy storage system. The CellCube is the world's leading commercially available vanadium flow battery, providing long duration solutions over a 20+ year life for a broad range of applications including renewable energy integration and demand charge reduction. CellCube is a powerful, durable and reliable energy storage system that ensures a clean, emission-free energy supply at all times.
ON BEHALF OF THE BOARD
Bill Radvak, President and CEO
For further information, please contact:
Bill Radvak, President & CEO
(778) 888 4101
bradvak@americanvanadium.com
www.americanvanadium.com
Forward-Looking Statements: This press release contains "forward-looking information" within the meaning of applicable securities laws, including statements with respect to the negotiation of an SPA, the trading halt, the potential acquisition of GES, financing plans, other plans, objectives and strategies for the energy storage business and the Gibellini Vanadium Project, the expected performance of GES' products and competitive products, market opportunities and market developments. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of American Vanadium to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information, including that we may be unsuccessful in negotiating the SPA, in obtaining the financing required to complete the acquisition of GES or in obtaining the necessary regulatory, corporate or contractual approvals to complete the acquisition, the results of the acquisition or the performance of GES' products may differ from our expectations, the market may not adopt our products or may shift, and other factors including a history of losses, inadequate financing, reliance upon key management, the difficulties of integrating acquisitions and scaling operations, regulatory requirements, and the other risk factors included in our annual information form and other disclosure documents available on SEDAR at www.sedar.com. Although American Vanadium has attempted to identify important factors that could cause actual results to differ materially from those contained in forward- looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements 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 statements. American Vanadium does not undertake to update any forward- looking statements, except in accordance with applicable securities laws.
This press release does not constitute an offer to sell, or a solicitation of offers to buy, any securities.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY HEREIN.
SOURCE: American Vanadium Corp.
Any connection to reality is currently being suppressed by the CB connected financial elites of the world as they scoop up all the physical gold and silver their greedy and twisted little hands can hold. Of course, they won't be able to maintain the fiscal Three-card Monte ruse indefinitely, and some as yet unknown event will, at some point, unceremoniously rip the cover off their evil artifice like the rotten roof on a crack house in a category 5 hurricane. Like most cataclysmic events, the devastation will be long remembered.
The markets have now fully disengaged from reality, and the crash can't be too far behind. Bargains in real gold and silver abound. Get'em on the cheap while you still can, my friends.
For any skeptics, check out the lower right-hand corner for the "dollar to gold ratio NOW", versus 1913 - the year the U.S. Fed was created.
http://www.usdebtclock.org/#
They have a "worst case" clause which would allow them to settle in cash rather than deliver the PM. Convenient, right?
Dear Janet,
I was able to grab a few bargain shares this morning, and I'm looking for a few more if you can push the lie a few more weeks. Please give my best wishes to all your fine minions at the Fed!
Sincerely,
Long term PM Investor
P.S. Pay no attention to the following rational analysis
http://www.jsmineset.com/2016/05/19/key-points-to-take-home-on-todays-gold-market/
The Fed obviously can't decide whether to defecate or go blind. Slamming gold is working so far, but let's see how long they can stand the searing heat of declining stocks.
Morning CB fueled paper gold slam down well under way this morning. Sell that paper gold all you financial elites! You can always settle in newly printed fiat if anything goes wrong!
Golden Leaf Holdings Ltd Announces Update on Details of Extracts and Edible Sales in Oregon and April Sales Revenue
http://goldenleafholdings.com/wp-content/uploads/2015/09/Golden-Leaf-Holdings-Ltd.-Announces-Update-on-Details-of-Extracts-and-Edible-Sales.pdf
Here's your ball game, and it will likely lift all boats if the DEA eases even a little.
DEA Plans To Decide Whether To Reschedule Marijuana By Mid-Year
http://www.huffingtonpost.com/entry/dea-marijuana-reschedule_us_5704567de4b0537661881644
Sell that paper gold all day long, doo-da, doo-da
Central bank's balance sheet five miles long, oh, de doo-da day...
http://www.zerohedge.com/news/2016-05-16/gold-silver-are-being-dumped
Janet had better marshal the Fed's paper gold slam-down troops this morning! Who knows what will happen if it breaches 1300!
GOLDEN LEAF HOLDINGS LTD. PROVIDES ANNUAL FILING STATUS REPORT
TORONTO, ONTARIO--(Marketwired – May 13, 2016) – Golden Leaf Holdings Ltd. ("GLH" or the "Company") (CSE:GLH) is providing this bi-weekly default status report in accordance with National Policy 12-203 – Cease Trade Orders for Continuous Disclosure Defaults ("NP 12-203"). On May 3, 2016, the Company announced that it had been granted a management cease trade order against the Company’s CEO and CFO (“MCTO”) by its principal regulator, the Ontario Securities Commission. The MCTO prohibits trading in the Corporation's securities by the Company’s CEO and CFO until the Company files the Required Filings and the MCTO is revoked, but does not affect the ability of Golden Leaf’s shareholders to trade in the Company’s securities.
As previously announced in the Company’s press release dated April 27, 2016 (the “Initial Press Release”), the application for the MCTO was made by the Company in respect of the late filing of the Company’s 2015 annual audited financial statements, its related management’s discussion and analysis, CEO and CFO certifications, and Ontario Form 13-502F1 (collectively, the "Required Filings"), which were required to be filed on or before April 29, 2016.
Pursuant to the provisions of the alternative information guidelines specified in Section 4.4 of NP 12-203, the Company reports that:
The Company and its auditor are in the process of completing the Required Filings and the associated audit work, which were delayed for the reasons discussed in the Initial Press Release.
The Company anticipates that the Required Filings will be completed on or before May 30, 2016.
There have been no failures by the Company to fulfill its stated intentions with respect to satisfying the provisions of the alternative reporting guidelines.
There has not been, nor is there anticipated to be, any specified default subsequent to the default which is the subject of the Initial Press Release.
The Company has not taken any steps towards any insolvency proceeding and the Company has no material information to release to the public.
The Company confirms that it intends to continue to satisfy the provisions of the alternative information guidelines described in section 4.4 of NP 12-203 for so long as it remains in default of the requirement to file the Required Filings. The Company has made the foregoing representations in accordance with the requirements of applicable securities laws.
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 growing, extracting, refining and selling cannabis oil.
For further information, please contact:
Golden Leaf Holdings Ltd. Investor Relations:
John Aird
T: 416.725.6458
E:jaird@goldenleafholdings.com
Disclaimer: This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the to filing of the Required Filings. 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 early roll out of oils and edibles, 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.
Copyright © *2016* *Golden Leaf Holdings Ltd.*, All rights reserved.
Well, well, well, that didn't take long. Mester vomits up some rate hike Fedspeak and gold plummets. Now, let's see if the smell lingers at least until the close today.
Fed’s Mester calls recent inflation data ‘encouraging’
http://www.marketwatch.com/story/feds-mester-calls-recent-inflation-data-encouraging-2016-05-12?siteid=bigcharts&dist=bigcharts
GOLDEN LEAF HOLDINGS LTD. PROVIDES UPDATE ON AURORA SITE
TORONTO, ONTARIO--(Marketwired – May 12, 2016) – Golden Leaf Holdings Ltd. ("GLH" or the "Company") (CSE:GLH) is pleased to announce that the build out and development of GLH's main campus and production center in Aurora, Oregon (the “Aurora Site”) continues on schedule. The Aurora Site will allow GLH to continue leading the field in various forms of extraction and enable further development of the Company’s branded products targeting relevant consumer segments in the recreational (adult use) and medical markets.
The Aurora Site is a newly consolidated extraction and refinement center, running five supercritical fluid extractors and two BHO extractors. GLH recently acquired a Pope Fractional Distillation machine for making solvent-free products that are currently in the new product development pipeline. The machine will allow the Company to complete further research and development in the refining of cannabis oil, in order to maximize its purity, potency and consistency.
The Aurora Site also houses new bubble-hash equipment for production of GLH’s new, premium bubble hash and rosin products. The first run of bubble hash just launched into the medicinal market, targets cannabis connoisseurs.
The Company has implemented an all-new quality control, testing and analytics lab at the Aurora Site and construction is underway on new office space at the main building to house all GLH employees. GLH is continuing development on a small cultivation center focused on innovative flower research and development.
The Company expects that its continued efforts to build out the Aurora Site facilitates will lower costs and create economies of scale in production. The Company expects this will provide it with a competitive advantage as the extraction industry evolves.
Don Robinson, CEO of GLH stated; “Having all of Golden Leaf’s staff centered in one location, will not only save on costs but also greatly increase productivity and efficiency. We are delighted at how the Aurora Site has turned out and I am confident that it will continue to get better.”
The Aurora site is presently limited to operations covered by the medical marijuana program, since the county in which it is located (Marion County) “opted out” of the recreational (adult use) program that will be deployed in Q4 2016. Fortunately, the “opt out” has been referred to the voters for the November 2016 election and based upon a public opinion survey commissioned by the Company to determine how much support there is for cannabis, management believes the public opinion is very much in the Company’s favor and the initiative to prohibit recreational (adult use) cannabis businesses is anticipated to fail. At the very least, regardless of the referendum’s outcome, the Company expects that Aurora should be able to be utilized as a medical grow site, although it would be subject to a substantial plant restriction under present law.
Forgotten, but not gone.
Trading again, albeit sporadically.