New Leaf Ventures Provides Corporate Update
New Leaf Ventures Inc. (CSE: NLV, OTC: NLVVF) reports on its first year since IPO, highlighting major achievements in the cannabis sector. After raising over $1.9M, the company acquired New Leaf USA, enhancing its operations. With successful equipment upgrades and a focus on innovation, New Leaf has expanded its product lines, including the Dama brand in the CBD market. Notable revenue growth of 35% in Q1 2021 and a 40% increase in retail accounts demonstrate positive market impact. The company also initiated partnerships to penetrate the cannabis beverage market, positioning for future growth.
- Raised over $4.48M from the exercise of 15,921,637 warrants and options.
- Achieved a 35% revenue increase for Q1 2021 and expanded retail accounts by 40%.
- Successfully entered the CBD market with new product offerings.
- Established a strategic partnership for cannabis-infused beverages.
- None.
VANCOUVER, British Columbia, May 18, 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, is pleased to provide a corporate update following its 1-year IPO anniversary.
May of 2020 is when New Leaf successfully listed on the Canadian Securities Exchange under the symbol “NLV” and financed over
The Company subsequently listed on the US-based OTC Markets listing under the symbol “NLVVF” with trading support from the Depository Trust Company (“DTC”) effectively establishing a key ability to open the door for US investors.
The New Leaf team immediately identified and actioned several key goals for rapid development. These included updates to existing product identities as well as introductory brand positioning across the edibles, CBD, infused beverages, premium brands and related greenhouse and outdoor product lineups. With investment, and vastly improved visibility for New Leaf Enterprises, came increased purchasing power and a commensurate ability to offer flower and pre-roll products in greater volume with an expanded range of strains and price levels.
Throughout the year New Leaf Ventures had a total of 15,921,637 warrants and options exercised at various strike prices for more than
Development of new brands combined with structured and responsive marketing allowed for greater consumer feedback and faster time-to-market development of new product lines aligned to market trend data. Aggressive distribution of samples to retailers, alongside structured follow-up and incentive closing protocols identified several new sales category opportunities.
A prime example of a new product category is the flagship Dama brand entry into the growing CBD marketplace. Featuring herbal blend tinctures, soft gels, and topicals, the new products are designed for direct-to-consumer online national sales and through wholesale agreements with multi-outlet grocery and pharmacy retailers. All the infrastructure has been finalized over the last several months and is now ready to launch in Q2, 2021.
By mid-year it was apparent that the investment in equipment upgrades had quantifiably grown regional market share. A significant boost was realized when the license holder announced its ability to acquire additional biomass valued at approximately
As a result of trend data that placed the global market for Cannabis Edibles at US
The Company went on to initiate a strategic collaborative partnership with Seattle’s Schilling Hard Cider for entry into the cannabis infused beverage marketplace and engaged Fire Creative Branding of Seattle to undertake branding and packaging design initiatives across the growing lineup of cannabis products and categories.
Recently, New Leaf reported that for the first time in the license holders’ history, its biomass processing capability exceeded projected capacity. This came as a result of the acquisition and installation of higher efficiency dried flower trimming and sorting machines, advanced drying and curing systems, along with extensive pre-roll automation. Looking ahead, the increase in production output further accelerated plans to position New Leaf USA as a white label service provider to several keenly interested underproducing regional brands.
The business development team also successfully navigated agreements with both new and long-standing local Tier l, 2 and 3 farm operators aimed at ensuring sustainable long term biomass purchasing access. With additional processing capability in-place, New Leaf USA is increasingly confident these multiple efforts and initiatives will result in the ability to service a significant increase in regional consumer market share. Located just north of Seattle’s SEA-TAC airport, New Leaf’s 30,000 square foot facility leased by the license holder is strategically positioned as a major competitor in distribution throughout Washington State. To capitalize on this enhanced role in the marketplace, the Company announced the appointment of ex-Red Bull territory manager David Weston to build a robust sales team and lead the development of new initiatives, including the procurement of additional white-label opportunities, adding additional industry-recognized names to our rapidly growing house of brands concept.
Michael Stier, CEO of New Leaf Ventures states, “Its amazing that we have hit this anniversary with so many initiatives already underway. When we reflect on what we have achieved, I think the entire team can be justifiably proud of how much has been accomplished. But it has also only just been a year, and we have lots more to do. But as is plain to see, our investments have created momentum beyond our initial expectation, so I am confident that the upcoming quarters will fully validate what we set out to do. Continuing this current momentum, we look to multi-state expansion to propel further value and increase market share for all our brands. We thank the team, our partners, stakeholders and especially our shareholders for their continued participation and interest in New Leaf. We invite you to share our story and look forward together for an even more exciting second anniversary ahead.”
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, consulting services, real property, intellectual property and equipment for lease and 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 further information, please contact:
New Leaf Ventures Inc.
Invictus Investor Relations
Tel: +1 (604) 330-9220
Email: investors@newleafventuresinc.com
Forward Looking Statement
This news release contains statements and information that, to the extent that they are not historical fact, may constitute “forward-looking information” within the meaning of applicable securities legislation. Forward-looking information may include financial and other projections, as well as statements regarding future plans, objectives, or economic performance, or the assumption underlying any of the foregoing. In some cases, forward-looking statements can be identified by terms such as “may”, “would”, “could”, “will”, “likely”, “except”, “anticipate”, “believe”, “intend”, “plan”, “forecast”, “project”, “estimate”, “outlook”, or the negative thereof or other similar expressions concerning matters that are not historical facts. Forward-looking information is based on the assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information. Accordingly, readers should not place undue reliance on any such forward-looking information. Further, any forward-looking information speaks only as of the date on which such statement is made. New factors emerge from time to time, and it is not possible for the Company’s management to predict all of such factors and to assess in advance the impact of each such factor on the Company’s business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking information. The Company does not undertake any obligation to update any forward-looking information to reflect information or events after the date on which it is made or to reflect the occurrence of unanticipated events, except as required by law, including securities laws.
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