Business
Golden Leaf Holdings Signs Letter of Intent with BlackShire Capital to Launch Chalice Farms Franchise Model
Golden Leaf Holdings Signs Letter of Intent with BlackShire Capital to Launch Chalice Farms Franchise Model.
About this update from Chalice Brands Ltd.
[{"type":"text","content":"\n\n TORONTO, March 27, 2018 (GLOBE NEWSWIRE) -- Golden Leaf Holdings Ltd. (“Golden Leaf” or the “Company”) (CSE:GLH) (OTCQB:GLDFF), a leading cannabis oil solutions company built around recognized brands, today announced that it has signed a letter of intent (the “LOI”) with BlackShire Capital Corp. (“BlackShire”), a Canadian Private Equity firm focused on the cannabis sector, to launch the Chalice Farms franchise model. This would be one of the first franchising deals of its kind in the cannabis space.\n Golden Leaf is presently working with BlackShire to complete the franchising documentation necessary to launch its cannabis retail franchising opportunity under the “Chalice Farms” brand in the U.S., Canada and international markets.   Golden Leaf and BlackShire are also in final discussions to form a jointly owned management company (“Management Company”) which, as the franchisee, would manage and own the Chalice Farms cannabis retail franchises.  The implementation of this potential partnership with BlackShire would be the first step in Golden Leaf’s franchise program rollout.    “Signing the LOI validates our strategic franchising initiative and allows us to advance this potential franchising and management partnership with BlackShire Capital towards definitive agreements,” commented William Simpson, CEO of Golden Leaf. “Franchising Chalice Farms represents an attractive vehicle to execute on our growth strategy of replicating the Chalice Farms operating model in new territories, which we plan to begin in Canada where and when permitted, and which we envision extending to additional permitted U.S. markets, beyond our current Portland, Oregon footprint.  In our view, Golden Leaf remains uniquely positioned to expand its retail brand-focused model and to build sustainable, long-term shareholder value.” “BlackShire Capital has been invested in the legal cannabis space for several years.  In Golden Leaf and Chalice Farms we have found a proven and progressive partner that believes in a premium customer experience.  We look forward to working with our partner on a definitive agreement that takes this exceptional brand to markets in Canada, the U.S. and the world,” said BlackShi...