Golden Leaf Holdings, Ltd. (OTCQB: GLDFF) (CSE: GLH) Subsidiary Receives First Genetics at Ontario Plant-Growing Facility

  • Company plans mid-2018 commencement of adult-use market sales in Canada as it addresses medical segment opportunity
  • The firm received its cultivation license during the fourth quarter of 2017, anticipates receiving its sales license by May
  • Phillip Millar, MMG president, said company’s portfolio includes genetic strain that holds the highest level of CBD in Canada, sees potential in medical segment and for European export

Golden Leaf Holdings, Ltd. (OTCQB: GLDFF) (CSE: GLH) recently announced that its subsidiary, Medical Marijuana Group (“MMG”), has received its first order of genetics at its St. Thomas, Ontario facility as it transitions from a production location to a functioning plant-growing unit (http://cnw.fm/rm1cJ). The move comes after MMG received its cultivation license in the fourth quarter of 2017.

The firm anticipates receiving its sales license by May, and it has already prepared applications for licenses for oil extraction and wholesale. The plants received at the St. Thomas location are expected to be ready for cultivation in three months, the company said, and it anticipates additional shipments in the future.

GLDFF is a Canadian company with operations in Oregon, Nevada and Canada, and it is one of the largest cannabis oil and solution providers in North America. GLDFF cultivates, extracts, manufactures and distributes its products through its own branded Chalice Farm retail dispensaries, as well as third-party dispensaries. Its advantages include a scalable and proprietary supply chain, low cost production of cannabis supply oils, high brand equity and a proven business model that’s exportable to other states.

“MMG Canada has bold expansion plans for 2018 as its prepares for the commencement of adult-use market sales in Canada in mid-2018, and to adequately address the ever-increasing medical segment opportunity,” William Simpson, CEO of the company, stated in a news release.

The company’s portfolio includes a genetic strain which holds the highest level of CBD in Canada. Phillip Millar, MMG president, added, “This genetic is extremely valuable in the medical market and also holds tremendous potential for European export. We are encouraged by the strong demand for our high-quality THC strains that we expect will provide a strong platform for dynamic growth across Canada.”

For more information, visit the company’s website at www.GoldenLeafHoldings.com

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