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.
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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.
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