NetworkNewsBreaks – Golden Leaf Holdings Ltd. (C
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Posted On: 04/08/2021 4:05:50 PM
NetworkNewsBreaks – Golden Leaf Holdings Ltd. (CSE: GLH) (OTCQB: GLDFF) Closes on Majority Ownership of Plant-Based CBD Skincare Brand
Golden Leaf Holdings (CSE: GLH) (OTCQB: GLDFF), a premier, consumer-driven cannabis company specializing in retail, production, processing, wholesale, and distribution, has closed on the purchase of its majority ownership in Fifth & Root Inc., a California-based, nationally recognized CBD skin-care brand. Fifth & Root noted that it hopes the move will allow the company to provide innovative CBD products nationwide through the largest and best beauty retail partners in the country. The purchase agreement noted that GLDFF will pay total consideration of up to $1,687,500 for 80% ownership of Fifth & Root. The consideration will consist of $250,000 cash payment paid at closing and up to 30,666,666 common GLH shares. Designed with a “GenZennial” customer in mind, Fifth & Root is sold in major retail locations such as Ulta Beauty, Nordstrom, Anthropologie and Urban Outfitters as well as online. “The acquisition of these distribution channels greatly increases the company’s visibility and reach, and continues to advance our ‘Crawl, Walk, Run’ strategic approach,” said Golden Leaf Holdings CEO Jeff Yapp in the press release. “As we look forward to the eventual federal legalization of cannabis, Fifth & Root’s commerce platform and partnerships will position the company favorably to capitalize on the evolving marketplace. Fifth & Root, a leader in CBD beauty, offers an exceptional line of clean and innovative products. We’re thrilled to add them to Golden Leaf Holdings’ portfolio of products and look forward to growing this brand within the burgeoning CBD skincare space.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Golden Leaf Holdings (CSE: GLH) (OTCQB: GLDFF), a premier, consumer-driven cannabis company specializing in retail, production, processing, wholesale, and distribution, has closed on the purchase of its majority ownership in Fifth & Root Inc., a California-based, nationally recognized CBD skin-care brand. Fifth & Root noted that it hopes the move will allow the company to provide innovative CBD products nationwide through the largest and best beauty retail partners in the country. The purchase agreement noted that GLDFF will pay total consideration of up to $1,687,500 for 80% ownership of Fifth & Root. The consideration will consist of $250,000 cash payment paid at closing and up to 30,666,666 common GLH shares. Designed with a “GenZennial” customer in mind, Fifth & Root is sold in major retail locations such as Ulta Beauty, Nordstrom, Anthropologie and Urban Outfitters as well as online. “The acquisition of these distribution channels greatly increases the company’s visibility and reach, and continues to advance our ‘Crawl, Walk, Run’ strategic approach,” said Golden Leaf Holdings CEO Jeff Yapp in the press release. “As we look forward to the eventual federal legalization of cannabis, Fifth & Root’s commerce platform and partnerships will position the company favorably to capitalize on the evolving marketplace. Fifth & Root, a leader in CBD beauty, offers an exceptional line of clean and innovative products. We’re thrilled to add them to Golden Leaf Holdings’ portfolio of products and look forward to growing this brand within the burgeoning CBD skincare space.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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