Blum Holdings Inc (BLMH)

[GreenJeans]

William Simpson for President !

Golden Leaf Holdings Ltd. (GLDFF) CEO William Simpson on Q3 2018 Results - Earnings Call Transcript
Nov. 5, 2018 7:05 PM ET | About: Golden Leaf Hldgs Ltd (GLDFF)

William Simpson

Thanks, Craig, and thank you to everyone who is participating on today’s call.

We have several exciting developments to discuss, the first of which is our announcement earlier this morning to merge with Terra Tech Corporation. Terra Tech’s CEO, Derek Peterson and I met several months ago. As we learned more about each other’s organizations and how we can participate in this industry, we realized how similar our companies are in terms of mission, vision and values, and our business models. Joining forces make our two companies stronger with complementary demographics.

They operate in Nevada and California, which are markets that Golden Leaf is entering, and we operate in Oregon and Canada, markets which Terra Tech has not yet expanded into. Derek’s entrepreneurial spirit resonates well with me and we both a passion to enhance people’s lives through cannabis.

Terra Tech and GLH have several projects in process and under construction, and as they come on line, they will further bolster our collective strength. As a combined company, we will have a stronger footing in an industry that is undergoing rapid consolidation. I’m extremely excited for the future and what we can accomplish together. Today’s announcement to merge is predicated on a signed non-binding letter of intent. And the LOI provides that Golden Leaf shareholders will be entitled to receive 0.1203 common shares of Terra Tech for each common share of Golden Leaf held.

The transaction is subject to several regulatory approvals and our teams are already collaborating in anticipation of joining forces. More to come on this exciting development as we proceed on things in the coming months.

On to the next most exciting part of the call, Golden Leaf’s third quarter earnings. We recorded record-breaking revenues of $5.1 million for the third quarter of 2018, an increase of 39% over the second quarter of 2018, driven by the shipment of our backlog of flower from our Canadian operations and seasonal strength in retail. I’m incredibly pleased with the performance of my team to accomplish this significant milestone.

https://seekingalpha.com/article/4218432-golden-leaf-holdings-ltd-gldff-ceo-william-simpson-q3-2018-results-earnings-call-transcript