LAS VEGAS, July 18, 2018 (GLOBE NEWSWIRE) — via OTC PR WIRE—Freedom Leaf, Inc. (OTCQB:FRLF), a Company dedicated to health and wellness products derived from legal Hemp and comprised of a group of diversified, international, vertically-integrated hemp businesses and cannabis media companies, is pleased to announce that it has entered discussions with prospective buyers for its September 2018 hemp harvest. Contracts will require 20% or higher deposit with balance due upon delivery, estimated to be in mid-October 2018, after trimming and drying processes are complete.
CEO Cliff Perry comments, “In Europe, the flower commands a much higher price than it does here in the USA. Hemp cigarettes have been considered a healthy alternative to tobacco cigarettes and have been smoked there for a number of years. This and other uses of the hemp flower created a larger demand in Europe than the USA. The indoor quality hemp, such as that grown in our greenhouse facility, demands a price of upward to €1,250 a kilo. It is expected that we will harvest 2,000 kilos which can possibly bring in €850,000 to as much as €2,000,000.”
“It is important to note, alongside our most recent filing, that our company is poised for growth like never before. Freedom Leaf, Inc. has absolutely no toxic debt and no convertible notes; Our European Greenhouse is one of the largest at 430,000 square feet, if not the largest, indoor Hemp grow facilities in the world. We will have three harvests a year indoors and we also have the rights for an outdoor grow space of 20 hectares (over 2 million square feet and expecting 20,000 kilos of Hemp flower sale price starting at €45 per kilo). Currently, we are using about 20% of the greenhouse space and will produce hemp in increasing quantities with each harvest until we meet full capacity, which would yield approximately 10,000 kilos per harvest or 30,000 kilos per year.”
“For our outdoor facility, our intention is to follow export rules and ship that crop to our Las Vegas facility for extraction. We currently have a letter of Intent to purchase 120,000 pounds of additional USA hemp from a farm for the purposes of raw extraction into finely honed full spectrum oil which is the only type that we use in our CBD retail products through our IRIE and Hempology product lines. What we do not use for our own IRIE and Hempology product lines we can sell for $13,000 to $17,000 a kilo for full spectrum within the legal limits. We are also sourcing the equipment to produce CBD Isolate, which is selling upwards to $7,500 a kilo.”
IRIE, which was fully acquired in April of 2018, and Hempology, a fully owned subsidiary, are part of the Company’s full vertical integration plan.
In 2017, IRIE had $1.4 million of revenue at a 13% net profit. The Company expects it to have $2.0 million or more revenue in the 2018 calendar year with a similar net profit. In addition, Freedom Leaf will be soon introducing another line of full spectrum Hemp wellness products under the Freedom Leaf brand, which will be an online sales channel managed by an outside company that has developed nutraceutical lines from the ground up with annual sales in the multi-million dollar area within the span of a year.
Perry adds, “Being fully integrated allows all of our product lines the ability to reach higher net profits from revenue than would typically be achieved. It is my goal to strive for $2 to $3 million gross revenues by year’s end and $10-15m next year in our hemp vertical businesses, conservatively. Mark my words, this is a multi-million dollar company in the making and we will work to build shareholder value consistently along the way with each and every step.”
Listen to Freedom Leaf, Inc. CEO, Clifford J Perry, on a recent Stock Day and Uptick Newswire radio show. Visit the Freedom Leaf Inc., message board on: https://investorshangout.com/.
About Freedom Leaf, Inc.®
Freedom Leaf, Inc. (OTCQB:FRLF) is a group of diversified, international, vertically-integrated hemp businesses concentrating on health, wellness, and education as well as cannabis media companies. Freedom Leaf, Inc. is a fully-reporting and audited publicly-traded company under the symbol (OTCQB:FRLF). Freedom Leaf, Inc. has been a leading go-to resource in the cannabis, medical marijuana and industrial hemp industries since 2014, founded by professionals with over 200 years combined experience in marijuana legalization advocacy. FRLF is building a diverse portfolio of valuable businesses through strategic mergers, acquisitions, and acceleration projects across the industry.
FRLF’s large portfolio of acquisitions and properties includes: our recently acquired full spectrum hemp oil product line – Irie CBD; our wholly-owned hemp extraction division – Leafceuticals, Inc.; our exclusive health and wellness full spectrum hemp oil brand – Hempology, our just-acquired indoor hemp greenhouse in Valencia, Spain for the cultivation of Hemp; our hemp-based rolling paper company – Plants to Paper; two of the largest Spanish-speaking cannabis web portals in the world – LaMarihuana.com and Marihuana-Medicinal.com, and of course our flagship publication – Freedom Leaf Magazine.
Utilizing these mergers and acquisitions, Freedom Leaf, Inc. is continually building a solid foundation for our vertically-integrated hemp company to maximize both revenue growth, and net profit, which will increase our shareholders value. Our cultivation and extraction divisions allow FRLF to grow and source our own hemp CBD, which allows dramatically lower production costs for our wholly-owned CBD product lines, thereby generating more revenue for each product sold. We formulate and manufacture the majority of our products in our own in-house formulation centers, also greatly reducing our costs and increasing revenue. In addition, our extensive domestic and international media companies ensure we can continuously direct traffic to our many ecommerce sites and nationwide retail locations. Freedom Leaf, Inc. also sells licenses to use the Freedom Leaf brand in different countries and states across the globe. We have entered into three license agreements: for Spain and Portugal, for The Netherlands, and for Southern California.
Freedom Leaf, Inc. does not handle, grow, sell, or dispense marijuana or related products
All of our European activities are in full compliance with relevant EU laws.
Investor relations information can be found on the FreedomLeafInc.com company website.
Safe Harbor Statement
This news release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are intended to be covered by the “safe harbor” created by those sections. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as “believe,” “expect,” “may,” “will,” “should,” “could,” “seek,” “intend,” “plan,” “goal,” “estimate,” “anticipate” or other comparable terms. All statements other than statements of historical facts included in this news release regarding our strategies, prospects, financial condition, operations, costs, plans and objectives are forward-looking statements. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: our ability to successfully market our products and services; the acceptance of our products and services by customers; our continued ability to pay operating costs and ability to meet demand for our products and services; the amount and nature of competition from other media and cannabis/hemp-related products and services; the effects of changes in laws governing the cannabis and hemp industries; our ability to successfully develop and sell new products and services; our success establishing and maintaining industry relationships, licensing and supplier arrangements; our ability to comply with applicable regulations; and the other risks and uncertainties described in our prior filings with the Securities and Exchange Commission. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
PR and Business Development Director
Freedom Leaf, Inc.