Galenfeha, Inc. Establishes a Position in a Hemp Cultivation and Product Sales Company

Rhea-AI Summary

Galenfeha has engaged with New Green Holdings, acquiring a 10% stake to collaborate on the Hemp business. New Green Holdings aims to cultivate and sell Hemp products in the U.S., led by entrepreneur Tracy S. Anderson, who has a successful background in the medical field. The company is also working on fundraising efforts to support its initiatives and has launched a website to educate the public on Hemp products. Additional clients unrelated to Hemp have been acquired by Galenfeha.

Positive

• Acquisition of a 10% stake in New Green Holdings, positioning Galenfeha in the growing Hemp industry.
• Leadership by Tracy S. Anderson, who has significant experience in scalable business operations.

Negative

• None.

West Palm Beach, Florida, Nov. 09, 2022 (GLOBE NEWSWIRE) -- Galenfeha, Inc. (OTC: GLFH) has been engaged by New Green Holdings, Inc. to work on several items related to the Hemp growing and sales business. As part of the transaction, the Company has taken a 10% position in New Green Holdings.

New Green Holdings, Inc. plans to cultivate, process and sell Hemp based products throughout the United States by acquiring new and established operations in each division of the process.

The company, New Green Holdings, is headed by Tracy S. Anderson, a serial entrepreneur who has been the main driver of two other corporations in the medical fields. One was successfully sold a number of years ago, and the other is based in Miami, with sales over $70.0 million. “ I have been following the progress of the Hemp industry since 2018 and am impressed by the wide range of products that can be developed from CBD to oil and diesel products among many other products”, Mr. Anderson stated. He went on to say that: “I have assembled a team of professionals that have a passion for the growing and development of hemp products and that will help individuals and the environment.”

New Green Holdings has initiated a web-site to begin the process of educating people on the company and the product(s) along with the research devoted to the development of all things HEMP. The website is www.newgreenholdingsinc.com.

Additionally, the company has initiated fundraising activities to provide capital for the company’s initiatives.

Galenfeha, Inc. has acquired two other clients, unrelated to Hemp, and will discuss them separately at the appropriate time.

About Galenfeha, Inc.:

We were incorporated under the laws of the State of Nevada. We are a publicly traded company focused on developing and acquiring and consulting businesses that fit into our disruptive DSF business model of Developing, Scaling and Financing synergistic industry-focused business groups. Our focus is on how the adaptation of informational technologies, even in the brick and mortar businesses, can drive scalable growth and innovation. (Website: www.galenfeha.com)

This news release contains certain statements that may be deemed "forward-looking statements" with respect to the Company within the meaning of applicable securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Forward-looking statements are based on the reasonable beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

Contact:
Galenfeha, Inc.
561-440-5660
email: info@galenfeha.com

FAQ

What is Galenfeha's recent investment in New Green Holdings?

Galenfeha has acquired a 10% stake in New Green Holdings to collaborate on Hemp cultivation and sales.

Who leads New Green Holdings?

New Green Holdings is led by Tracy S. Anderson, an experienced entrepreneur in the medical field.

What is the focus of New Green Holdings?

New Green Holdings focuses on cultivating, processing, and selling Hemp products in the United States.

What actions is Galenfeha taking to support New Green Holdings?

Galenfeha is engaged in fundraising activities to provide capital for New Green Holdings' initiatives.

What significant business moves did Galenfeha announce?

Aside from the Hemp investment, Galenfeha has acquired other clients unrelated to Hemp.