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SECURES CITY LICENSES TO SELL CANNABIS IN ADDITIONAL NEVADA JURISDICTIONS

 

Golden Leaf Holdings Ltd. (GLH.C) has been granted business licences by Henderson County and Washoe County, in the state of Nevada, to sell cannabis to the adult-use markets in these locations. The company plans to commence sales in these jurisdictions immediately.

The company previously announced in September, 2017, that it secured a business licence to sell into the adult-use market in the city of Sparks, Nev., and the acquisition of a statewide cultivation and extraction licence in Nevada, in March, 2017. Receiving these licences is expected to enable the company to expand beyond its home market of Oregon, and to sell its high-quality cannabis-infused products to a larger market. The company continues to work toward securing the requisite licences to sell into Las Vegas, which requires a separate licence.

William Simpson, chief executive officer of the company, commented: "We remain committed to replicating our successful Oregon operating model of building out an internally produced and distributed portfolio of premium cannabis brands, sold through a channel of retail dispensaries. Securing these additional city licences in Nevada supports this key strategic initiative, as Nevada became the fifth state to allow adult-use cannabis sales earlier this year, opening a new market opportunity for Golden Leaf. We have already begun to gain early sales traction in Reno, Nev., where we are using a licensed distributor to generate sales, as well as in Sparks, Nev., and look forward to continuing to expand our customer base and product reach."

About Golden Leaf Holdings Ltd.

Golden Leaf Holdings, based in Portland, Ore., is one of the largest cannabis oil and solution providers in North America, and a leading cannabis products company built around recognized brands. Golden Leaf Holdings cultivates, extracts and manufactures, and distributes its products through its branded Chalice Farm retail dispensaries, as well as through third party dispensaries. Golden Leaf leverages a strong management team with cannabis and food industry experience to complement its expertise in extracting, refining and selling cannabis oil.