Chalice Brands Ltd (CHALF)

[Marillionaire]

Jeff Yapp has been a welcome breath of fresh air to GLH. His passion, commitment, energy and drive, combined with his immense talents, has had a dramatic and positive impact on GLH. The AGM deck will highlight most of Golden 2.0 and the foundation for growth that Jeff has put together.

Jeff has brought much-needed strategic focus to GLH, along with financial discipline and controls never seen within the company. In the process, he has built the best team in GLH’s history. The often-repeated mantra within GLH of CRAWL, WALK, RUN has become part of our culture. GLH no longer chases revenue, investing only once we have proven revenue models. We have entered low-cost partnerships in California, Nevada and Washington, which has allowed us to expand in a planned and supportable manner. We have dramatically increased working capital management, while improving our production processes sales turns and same store performance.

With stringent capital allocation discipline, we will become profitable in our backyard of Oregon and use the positive cash flow generated in Oregon to support our corporate overhead, while we grow our out-of-state businesses prudently. Focus on best-in-class practices in retail optimizes our performance, while ensuring the well-being of our valued employees.

The dramatic difference between Golden 2.0 vs Golden 1.0 is that from July 1, 2019 through June 13, 2020, GLH generated revenue of $16.6M while only deploying $4.3M of cash.