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Golden Leaf Holdings Ltd (OTCMKTS:GLDFF) Terminates Asset Purchase Agreement in San Jose, CA

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Golden Leaf Holdings Ltd (OTCMKTS:GLDFF) announced the termination of asset purchase accord to take over multi-use ‘Sweet 16’ license and other assets in San Jose, California. The company previously announced a decision to gain the retail license on August 17, 2018. Chief Executive Officer and President of Golden Leaf said the decision to shelve the agreement is based on its economics. It will no way affects the business of the seller.

Golden Leaf recruits new president and chief executive officer

Golden Leaf has recruited William Kulczycki as the new President and Chief Executive Officer. William Simpon, the former CEO and President, would continue to help the new CEO. As a board observer and founder, Simpson will oversee daily functioning of Golden Leaf.

Kulczycki is an asset to Golden Leaf

Kulczycki is bringing more than 40 years of experience in the outdoor industry. During this 40 years tenure, he improved the profitability of the business and built strong management teams. He played a vital role in providing apt advice in acquisitions and strategies for distribution. Previously, Kulczycki worked as President for 28 years at Patagonia Inc. He also worked as Brand President for four years at Gregory Mountain Products.

Simpson said the company is fortunate to get highly talented and experienced Kulczycki as the CEO and President. He is the right fit when the company is searching for a leader with a proven track record and background in distribution and retail business worldwide. Kulczycki can lead a strong management team and implement a sustainable and profitable business going forward.

Commenting on his appointment, Kulczycki said he is looking forward to leading the company in a growth path capitalizing on the opportunities and meticulously tackling the challenges.

Q3 2018 results and highlights

Golden Leaf reported robust revenues of $5.1 million in Q3, 2018. Health Canada granted a sales license in Canada for Golden Leaf. Oregon Liquor Control Commission awarded a cultivation license for its facility in Bald Peak, Oregon. The company recruited Jeff Yapp as the Sales Officer and CMO. Golden Leaf signed a merger deal with Terra Tech Corp. The company established a footprint in Nevada through the launch of Golden Fruit Chews.

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American Green Inc. (OTCMKTS:ERBB) Announce Integration Of Earthly Mist Into Its AGM Vending Solution

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American Green Inc. (OTCMKTS:ERBB) has announced that Earthly Mist, which is one of its leading AGM Smart Vending Machine Kiosk clients, has integrated fully into its proprietary AGM vending technology.

American Green’s technology making it possible to don contactless transactions

This will enable their staff and retail customers not to require interaction before completing transactions at its retail outlets. This type of contact-free transaction is a way of keeping all parties safe. Following the coronavirus outbreak, Earthly Mist, just like most retail companies, found itself in uncharted waters. The company had to close its stores and look for ways of serving their customers without putting the lives and its staff and clients at risk. As a result, its management decided to deploy the American Green AGM smart kiosks for completion of transactions.

Danielle Pierce, the manager of Earthly Mist, stated that they take the safety of employees and customers seriously; that is why they moved to use the AGM vending technology. The solution offers a way for customers to make contactless purchases in line with measures of combating the spread of COVID-19. He added that American Green’s solution has helped in dispelling concerns among customers as they are now able to complete transactions without interacting physically.

AGM solution helping Earthly Mist sell products any time

The technology has made it possible for the company’s products to be available to customers at any time of the day. Even with forced shutdowns because of coronavirus restriction Earthly Mist’s popular products can be bought at any time of the day.

American Green’s AGM Division head, Lindel Creed, stated that the two companies had to think of ways of becoming creative. As a result, they put AGM technology into optimum use by ensuring that Earthly Mist is operations and easing concerns among its customers. The company is also planning to open in 10 new markets to vending operators seeking its high-quality CBD products. Besides the AGM vending kiosks, the company also is a top online supplier of CBD products that it plans to incorporate into the kiosks.

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Curaleaf Holdings Inc (OTCMKTS:CURLF) Enters A Pact With Mango Cannabis To Distribute Its Select Brand Products In Oklahoma

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Curaleaf Holdings Inc (OTCMKTS:CURLF) signed a pact with Mango Cannabis to distribute its Select Brand products in Oklahoma. Following this accord, the company’s Select Brand products are being distributed at Tulsa and Edmond based Mango Cannabis dispensaries for the first time.

Curaleaf expands Select brand in 17 states

Curaleaf is expanding the Select brand in 17 states across the US. After acquiring the brand in February 2020 by Curaleaf, the Select Brand retails in Michigan, Colorado, Arizona, Nevada, Maryland, California, Oklahoma, and Oregon. Select has initially introduced its 1 gram Elite Cartridge in the Oklahoma market. The Elite Cartridge (1g) comprises high THC and broad spectrum-oil. Select brand will also provide Elite Live and other products to the medical patients in Oklahoma soon.

Serves medical patients in Oklahoma

President of Curaleaf, Joe Bayern, said the company is pleased to introduce its Select Brand in Oklahoma through a partnership with the trusted dispensary – Mango Cannabis. He said the Select brand entry into Oklahoma helps the company to focus on rapidly growing medical marijuana market and reap rich rewards. The company expects to serve the wellbeing and health of Oklahoma based medical patients.

The manager of Mango Cannabis Store, Rebeka Tucker, said the company is excited to associate with Curaleaf in introducing Select brand to the patients in Oklahoma. It expects to observe how the patients will receive an Elite product. Cannabis is an essential service in most of the states during the COVID-19 pandemic. Curaleaf is committed to serving the customers and patients with high-quality products while ensuring hygienic measures and following the safety procedures.

Curaleaf will report Q1 2020 financial results on May 18, 2020. The company will hold an audio webcast and conference call on the evening of May 18, 2020, at 5 PM EST.

Acquires three Connecticut dispensaries

Curaleaf has acquired three Connecticut based dispensaries of Arrow Alternative Care (AAC). Chief Executive Officer of Curaleaf, Joe Lusardi, said the takeover of AAC strengthens its footprint in Connecticut. It will also help to augment its position as a leading player in Cannabis in the US. AAC is a leading player in Connecticut by operating three among the eighteen dispensaries in the state.

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Golden Leaf Holdings Ltd (OTCMKTS:GLDFF) Reports A Marginal Increase Of 7% in Revenues In 2019

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Golden Leaf Holdings Ltd (OTCMKTS:GLDFF) has posted revenues of $15.8 million in 2019. It is an increase of 7% when compared to the same period last year. The company’s gross profit has surged by 27% to $4.3 million. It is on the backdrop of rationalization of headcount, consolidation of facilities, and in-house production of distillate raw materials.

Vape ban impacts revenues in 2019

CEO of Golden Leaf, Jeff Yapp said the vape ban in fall 2019 has impacted its revenues by $3.5 million when compared to the previous quarter. The company quickly harnessed its team’s agility and market ingenuity to recover and exhibit leadership in Oregon. Golden Leaf has posted improved revenues of $4.7 million in Q1 2020.

Strengthens management team

Golden Leaf has strengthened its management team by recruiting Jeff Yapp as Chief Executive Officer. After induction, Jeff has used his retail and cannabis experience to hone the management team.

Golden Leaf has restructured its balance sheet by converting its debt to equity. It has also postponed the Chalice debt obligations to the year 2022. The company has halved the cash spending by instituting Crawl, Walk, and Run operating mechanism.

Golden Leaf reduced reliance on vape products and introduced innovative products to generate new revenue streams. It has implemented effective purchase and inventory management systems and lowered production costs.

Divests unprofitable businesses

Golden Leaf sold over a two-dozen introductory SKUs in December 2019 in California. To drive growth in 2020, the company has established partnership accords. The company has divested unprofitable subsidiaries – Medical Marijuana Group Consulting Ltd and Medical Marihuana Group Corporation, as of December 2019.

Golden Leaf has realized incremental revenues of $0.4 million in Q1 2020, by laying the foundation for new revenue streams that comprise third-party toll processing. The company signed an asset purchase accord for Tozmoz LLC on October 11, 2019. It has subsequently signed a consulting accord with Tozmoz. As per the terms of the accord, Tozmoz offers all the packaging and extraction requirements for Golden Leaf’s Oregon business. This accord helped the company to improve distillation production efficiencies. It also provided access to the refinement and extraction capabilities to strengthen the leadership of Golden Leaf in the Oregon extraction business.

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