Business
Golden Leaf Holdings Reports Fiscal First Quarter 2019 Results
Golden Leaf Holdings Reports Fiscal First Quarter 2019 Results.
About this update from Chalice Brands Ltd.
[{"type":"text","content":"\nTORONTO, May 31, 2019 (GLOBE NEWSWIRE) -- Golden Leaf Holdings Ltd. (“Golden Leaf” or the “Company”) (CSE:GLH) (OTCQB:GLDFF), a pioneer cannabis oil solutions company and dispensary operator built around recognized brands, today announced financial results for the fiscal first quarter ended March 31, 2019, and a general business update.\n Strategic Direction We believe that a trusted, internationally-recognized brand targeting customers new to cannabis products services the coming wave of new users. These new users are expected to seek health and wellness benefits as restrictions on cannabis use relax over the next three years.  Building the Chalice Farms brand leverages the Company’s dispensary locations, high-touch customer service approach, and management expertise.  Already an established leader in Oregon, Nevada and Canada, the Company intends to expand to California through an innovative approach to consumer-direct sales as well as wholesale sales.  The Company intends to achieve national sales of CBD and other non-THC products in 2019 and will search for global opportunities in 2020 and beyond. Recent Business and Financial Highlights Sales increased 34% over the prior year periodOperating loss improved 28% to US$3.0 million from US$4.2 million in the prior year periodLaunched Elysium Fields brandLaunched Jackpot brand in OregonAchieved over 33% increase in Oregon wholesale account baseRetained Renmark Financial to support investor relationsReduced headcount by 19% and initiated other efficiency measuresAppointed Larry Martin to the Board of DirectorsAppointed Karyn Barsa as Chief Financial Officer Subsequent Events: Appointed Karyn Barsa as Chief Executive OfficerAppointed Robert Gordon as Director, Human Resources Ms. Karyn Barsa, Chief Executive Officer of Golden Leaf Holdings, commented, “We saw year-over-year revenue growth of 34% for the first quarter of 2019. We are pleased with the successful launch of two new brands in our Oregon and Nevada markets, Elysium Fields and Jackpot, showing strong customer support and trust.” “The appointment of Larry Martin to the Board of Directors is another indication of faith in our future.  Larry’s unique background and experience as a successful CEO and entrepreneur, particularly his years of experience ...