Golden Leaf Holdings Ltd. (CSE: GLH) (OTCQB: GLDFF), a Portland-based cannabis company widely recognized for its Chalice Farms stores and products has raised approximately $8.7 million and recently signed a letter of intent to acquire a store chain in Northwest Oregon, both indications that the company is shifting into a growth mode with a focus on Oregon markets. In a recent article, Golden Leaf Holdings CEO Jeff Yapp noted that the company was waiting to reveal the name of the chain of store pending a definitive purchase agreement. When the deal goes through, Yapp noted, GLH will use monies from recent fundraising, along with stock and a promissory note, to complete the transaction; the stores could conceivably bring in an at least $10 million annually. The article noted that a series of restructuring moves, a cash-flow positive quarter from operations for the first time and consecutive record-breaking quarters last year have revived investor interest in the company, which also distributes products in California, Nevada and Washington. “Our focus has been on the operating fundamentals and earning credibility,” said Golden Leaf Holdings CEO Jeff Yapp in the article. “That got us to the place where we had a base of revenue that allowed us to operate on a profitable basis. So the question became, how do we accelerate growth? . . . Oregon is undervalued by the industry. People see it as oversaturated, over supplied, but Oregon as a leadership market is very interesting. We think it’s a bellwether state.”
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About Golden Leaf Holdings Ltd.
Golden Leaf Holdings is a premiere, consumer-driven cannabis company specializing in production, processing, wholesale, distribution and retail, with seven dispensaries in Portland, Oregon. The company is committed to developing a dynamic portfolio built around the recognized brands of Chalice Farms, with a focus on health and wellness. Markets served include Oregon, California, Nevada and Washington. For more information about this company, visit www.GoldenLeafHoldings.com.
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