New Leaf Ventures Finalizes Willies Reserve Exclusive Licensing Rights for Washington State

Rhea-AI Summary

New Leaf Ventures Inc. (CSE: NLV) (OTC: NLVVF) announced a commercial packaging, licensing, and distribution agreement with Long Play Inc. for the renowned cannabis brand WILLIE'S RESERVE™. This exclusive agreement, effective from August 31, 2021, grants rights to source, manufacture, distribute, and market Willie’s Reserve products in Washington State. The licensed products include various cannabis items, enhancing New Leaf's positioning in the market. President Boris Gorodnitsky emphasized the potential for growth and strategic partnership in a rapidly evolving industry.

Positive

• Secured an exclusive agreement with Long Play Inc. for Willie’s Reserve brand, enhancing market presence.
• The deal encompasses multiple licensed products, expanding the product line.
• Strategic growth opportunity in the North American cannabis sector.

Negative

• None.

VANCOUVER, British Columbia, Sept. 08, 2021 (GLOBE NEWSWIRE) -- New Leaf Ventures Inc. (CSE: NLV) (OTC: NLVVF) (“New Leaf,” “NLV” or the “Company”), a management and investment organization dedicated to evaluating, investing, and accelerating advanced stage operations in the North American Cannabis sector, wishes to advise that its wholly-owned subsidiary, New Leaf USA, Inc. (“New Leaf USA”) is pleased to announce it has entered into an exclusive Washington State commercial packaging, licensing and distribution agreement with Long Play Inc., a Colorado Corporation and licensors of renowned cannabis brand “WILLIE'S RESERVE™.”

The agreement which was previously introduced in a news release on June 29, was executed and came into effect August 31, 2021. The licensing encompasses exclusive rights to source, manufacture, distribute, and market Willie’s Reserve and Harvest products in Washington State. The agreement includes several USPTO registered trademarks and licensed products including,

• Willie’s Reserve 2-Pack (Double Barrel) Ready Roll Joints (.5G)
• Willie’s Reserve Single Pack Ready Roll Joints (1G)
• Willie’s Reserve Core 5 pack joints (tins)
• Willie’s Reserve (Core) 1/8 Ounce Flower Jar
• Willie’s Reserve (Core) 1/4 Ounce Flower Jar
• Willie’s Reserve (Harvest) 5 pack joints (tins)
• Willie’s Reserve (Harvest) 1/8 Ounce RYO Pouch
• Willie’s Reserve (Harvest) 1/4 Ounce RYO Pouch
• Willie’s Reserve (Harvest) + (Core) 1G Flower Mylar
  

New Leaf Services, LLC a Washington limited liability company, on behalf of itself and its direct wholly owned subsidiaries and any sublicensees, (collectively the “Licensee”) has entered into an exclusive, nontransferable, license to use the Licensed Property in connection with the processing, production, distribution and sale of the Licensed Products in the State of Washington, and which License may sublicense to New Leaf Enterprises, Inc. (“NLE”) as bound by the same terms and conditions under this agreement as Licensee.

In concordance with standard commercial agreements regarding the use of trademarks, packaging, permits and intellectual property, NLE will be responsible for acquiring all cannabis source materials, including dried flower and other products containing cannabis, and upon receipt of a purchase order, will source the necessary Cannabis Materials and undertake production and distribution of the Licensed Products within Washington State. Full details of the agreement are subject to commercial protection and are withheld for proprietary reasons.

Co-founded by renowned singer-songwriter and cannabis pioneer Willie Nelson in 2015, the iconic Willies Reserve brand has become widely recognized for its commitment to the celebration of what is possible when enthusiasts and experts join forces to collaborate. WILLIE'S RESERVE™ embraces the natural diversity of the plant, the range of cultivation methods, and the spectrum of effects cannabis creates.

Boris Gorodnitsky, President, New Leaf USA & Director, New Leaf Ventures Inc. comments, “This is an exciting announcement for the entire New Leaf team today. We have worked hard to secure this agreement and we intend to maximize the relationship to ensure our mutual success in Washington and hopefully beyond. This agreement is the result of an intelligent and considered business-focused approach to growth. Everything we have done since our initial public listing has been aimed at delivering results. Incremental growth, smart investments and partnerships are all shifting the New Leaf brand family into high gear. We are delighted to be working with the team at Willie’s Reserve and look forward to growing our footprint throughout the marketplace.”

About New Leaf Ventures Inc. (CSE: NLV) (OTC: NLVVF)
New Leaf Ventures Inc. is developing a cannabis sector-based scalable securities concept of focused financing and applied management to achieve earnings growth through targeted investment. The Company’s flagship enterprise is New Leaf USA and its subsidiaries, which provide licenses, real property, intellectual property and equipment for lease, certain administrative services and other ancillary services to a Washington-based Tier 3 Producer/Processor focused on cultivating, growing, processing, packaging, and distributing cannabis and cannabis related products. Find out more at: https://newleafventuresinc.com/. For consumer interest visit: https://www.damawashington.com/ and https://damalife.com/.

For further information, please contact:
New Leaf Ventures Inc.
Invictus Investor Relations
Tel: +1 (604) 330-9220
Email: investors@newleafventuresinc.com

Forward Looking Statements

This news release contains certain forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, including statements regarding the Company’s intention to seek other opportunities, are forward-looking statements. These forward-looking statements reflect the expectations and beliefs of management of the Company based on information currently available to it. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully, and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

The CSE does not accept responsibility for the adequacy or accuracy of this release.

FAQ

What recent agreement did New Leaf Ventures make regarding Willie’s Reserve?

New Leaf Ventures entered into an exclusive packaging, licensing, and distribution agreement with Long Play Inc. for Willie’s Reserve brand products in Washington State.

When did the New Leaf Ventures and Long Play Inc. agreement take effect?

The agreement took effect on August 31, 2021.

What products are included in the New Leaf Ventures agreement with Long Play Inc.?

The agreement includes various Willie’s Reserve products such as ready roll joints, flower jars, and RYO pouches.

What is the significance of the agreement for New Leaf Ventures?

The agreement allows New Leaf Ventures to enhance its market presence and expand its product offerings in the cannabis sector.

What is the stock symbol for New Leaf Ventures?

The stock symbol for New Leaf Ventures is NLVVF.