PORTLAND, Ore., Dec. 14, 2017 (GLOBE NEWSWIRE) -- Golden Leaf Holdings Ltd. (“GLH” or the “Company”) (CSE:GLH) (OTCQB:GLDFF), a leading cannabis oil solutions company and dispensary operator built around recognized brands, today announced that it has opened a new Chalice Farms dispensary on the popular Willamette River waterfront area of Downtown Portland, Oregon.

This new facility marks the fifth dispensary in the Chalice Farms family and the sixth overall for GLH (the company also owns the Left Coast Connection dispensary). The new dispensary is 1,000 square feet and includes the hallmark branding of the sophisticated, yet earthy feel for which Chalice Farms has become known.

“We are pleased to deliver on our stated operational goal of opening this new Chalice Farms location, which we expect to expand our retail operational footprint in the Portland area, and drive a more profitable long-term product mix,” said William Simpson, CEO, Golden Leaf Holdings.

The Oregon cannabis market continues to grow, with the Oregon Department of Revenue estimating that cannabis sales have already generated more than $100 million in tax revenue for the state and created upwards of 12,000 local jobs.

“While we are Portlanders at heart, this section of the waterfront is a new geographic location for us. As a tourist destination and as one of the only dispensaries on the river, we are hoping to introduce a whole new clientele to our brand,” continued Mr. Simpson.

The address of the new dispensary is 823 SW Naito Parkway, Portland, Oregon. The Company plans on opening a sixth Chalice Farms location in Happy Valley, Oregon during the first quarter of 2018.

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About Golden Leaf Holdings

Golden Leaf Holdings Ltd., a Canadian company with operations in Portland, Oregon, 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.  Visit http://goldenleafholdings.com/ to learn more.   

Investor Relations:
Steve Silver / Phil Carlson
GLH@kcsa.com
212-896-1220 / 212-896-1233

Media Contacts:
Anne Donohoe / Anne Szustek
KCSA Strategic Communications
adonohoe@kcsa.com/aszustek@kcsa.com   
212-896-1265 / 212-896-1210

Company:
William Simpson
Chief Executive Officer
Golden Leaf Holdings Ltd.  
503-477-7626
William@chalicefarms.com 

Disclaimer: This press release contains "forward-looking information" within the meaning of applicable securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the Company’s future business operation, expectations of gross sales, the opinions or beliefs of management and future business goals, statements regarding the timing for opening of the Company’s sixth Chalice Farms dispensary. Generally, forward looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to general business, economic and competitive uncertainties, regulatory risks including risks related to the expected timing of the Company’s participation in the Adult Use market, market risks, risks inherent in manufacturing operations and other risks of the cannabis industry. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking information. Forward-looking information is provided herein for the purpose of presenting information about management’s current expectations relating to the future and readers are cautioned that such information may not be appropriate for other purpose. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws. This Release does not constitute an offer of securities for sale in the United States, and such securities may not be offered or sold in the United States absent registration or an exemption from registration.