Beats the Canadian LP's all day long.
Golden Leaf estimates July revenue at $1.6M (U.S.)
2016-08-11 10:34 ET - News Release
Mr. Paul Searle reports
GOLDEN LEAF HOLDINGS ANNOUNCES PRELIMINARY RESULTS FOR JULY 2016 -- OREGON AND WASHINGTON STATE BRANDS REPORT 15% COMBINED MONTHLY SALES GROWTH
Golden Leaf Holdings Ltd. (GLH) has provided preliminary revenue results for July, 2016, for the respective brands of the company in Oregon and strategic partner, BMF Washington.
Oregon and Washington State brand revenue update
Preliminary results show that combined brand sales for GLH and BMF in Oregon and Washington were estimated at $1.6-million (U.S.) in unaudited revenue for July, 2016, as compared with unaudited revenue of $1.4-million (U.S.) for June, 2016, representing a month-over-month increase of 14 per cent.
GLH posted preliminary results for July, 2016, showing $914,000 (U.S.) in estimated and unaudited revenue as compared with $891,000 (U.S.) (updated and revised from previously published number of $923,000 (U.S.)) in June, 2016, representing a month-over-month increase of 2.6 per cent. BMF's July, 2016, unaudited and estimated revenue in Washington State was $728,665 (U.S.), a month-over-month increase of 35 per cent from the June, 2016, revenue of $537,880 (U.S.).
GLH contract grow update
In connection with the company's successful contract trim buying strategy, the first contract cannabis grow is under way and the harvest is anticipated to commence in October of 2016. GLH will leverage the supply agreement that dictates guidelines for grow conditions and strain types to obtain flower and trim for its portfolio of branded products. This strategic approach to sourcing raw materials reinforces the company's position as a leader in the industry and provides a cost-effective method to support higher product margins and consistent, high-quality supply to meet the market demand.
Don Robinson, GLH chief executive officer, commented: "We are looking forward to October, 2016, and harvesting plants from our first contract grow. This strategic supply agreement is expected to help support our raw material requirements while ensuring only the highest level of quality and variety demanded by our consumers." |
