Las
Vegas, NV -- March 22, 2018 -- InvestorsHub NewsWire -- Freedom
Leaf, Inc. (OTCQB: FRLF), a global leader in
the cannabis/hemp ecosphere, today announced that it has hired
Purdue University Biomedical Engineering graduate Nick Shi to
oversee the Leafceuticals Inc hemp extraction, distillation and
refining laboratory in North Las Vegas.
Leafceuticals
Inc is Freedom Leaf’s wholly-owned extraction and
manufacturing division that uses NuAxon CO2
supercritical extraction to manufacture wholesale
hemp CBD oil, terpenes, rare cannabinoids, and other valuable
byproducts of industrial hemp.
Clifford
Perry, CEO and Co-Founder of Freedom Leaf, explained,
“Adding yet another Purdue Engineering graduate to FRLF’s
team of experts ensures we bring only the best engineering and
scientific design to our Leafceuticals Inc extraction facility
and Hempology CBD products.”
Chris
Thompson, Freedom Leaf’s Director of Digital Marketing and another
Purdue Engineering Alumni, commented, “We expect Nick will be
another invaluable addition to the Leafceuticals Inc. production
team, helping us increase product quality, optimize production
speed, and reduce operating costs.”
In
addition to hiring highly-skilled staff, Leafceuticals Inc is also
in the process of expanding its facility in North Las Vegas,
currently constructing two additional fully-functioning laboratory
spaces for hemp CBD extracting, distilling, and
refining.
Our
test run of hemp flower has already garnered $50,000 in
revenue this quarter, and CBD oil from hemp flower should start
producing $65,000 a month in sales starting the month of April
2018. Within 5 months, after the lab is fully functional, the
revenue is expected to grow to approximately $100,000 a month. Upon
the installation of a new 50 Liter Supercritical CO2 Extractor by
NuAxon BioScience, Inc. expected to be installed within 9 months,
the revenue is projected to continue growing to $300,000 a
month.
Perry
went on to say, “In 2018, FRLF is focusing on building out our
product revenue streams and acquiring revenue-generating companies,
like our recent acquisitions of Irie CBD, Green Market
Europe S.L., and LaMarihuana.com. These projects will continue
to grow, develop, and significantly increase FRLF shareholder
value.”
Earlier
in March 2018, FRLF signed an Asset Purchase Agreement to
acquire Irie CBD, a California-based product
line that has been operating since 2015. Irie CBD formulates,
manufactures and distributes CBD tinctures, CBD edibles, CBD
topicals and CBD concentrates to retail markets across the country.
Irie boasts a large inventory of more than 25 different products
and recorded approximately $1.5 million of revenue in
2017. Irie also leases a full manufacturing and processing
facility in Oakland, California that is included in the
acquisition.
In
January 2018, Freedom Leaf completed its acquisition
of Green Market Europe S.L. and intends
to become a global leader in mass production of high-quality, EU
certified industrial hemp and related research. Luis Miguel
Santos, managing director of Green Market Europe S.L.,
reported, “The greenhouse hemp crop to be harvested in 3
weeks has a projected revenue of approximately €160,000
($200,000). There is an ever-growing demand for
our high-quality hemp products.” Typically,
the demand for hemp products in Europe is so strong that each crop
of hemp is sold prior to its harvest.
In
2017, Freedom Leaf acquired LaMarihuana.com, the world’s
leading Spanish language cannabis portal with an average 1.7
million hits a month and 1.2 million likes on Facebook. As part of
the acquisition, Freedom Leaf additionally
acquired Marihuana-Medicinal.com, which is one of the largest
medical cannabis information websites in Spanish with over 122,000
page visits a month.
About Freedom Leaf®
Freedom
Leaf, Inc., The Marijuana Legalization Company®, is a
fully-reporting and audited, publicly-traded company trading under
the symbol (OTCQB: FRLF), a group of diversified,
international, vertically-integrated Cannabis/Hemp/CBD businesses
and media companies.
Freedom
Leaf, Inc. is a leading, go-to resource in the cannabis, medical
and recreational marijuana, CBD and industrial hemp industries.
It is involved in mergers and acquisitions in these
industries, including acceleration and spin offs of new companies
involved in those industries.
Freedom
Leaf Inc.'s flagship publication is Freedom Leaf
Magazine, The Good News in Marijuana Reform. The company
produces a portfolio of news, print and digital multi-media
verticals, websites, and web advertising, for the ever-changing
emerging cannabis, medical marijuana and industrial hemp
industry. The Company also controls LaMarihuana.com, the
world’s leading Spanish publication focused on these
industries.
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
Statements
in this press release that are not strictly historical are
"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. These forward-looking
statements generally can be identified by phrases such as Freedom
Leaf, Inc. or its management "believes," "expects," "anticipates,"
"foresees," "forecasts," "estimates" or other words or phrases of
similar import. Similarly, statements herein that describe the
Company's business strategy, outlook, objectives, plans, intentions
or goals also are forward-looking statements. All such
forward-looking statements are subject to certain risks and
uncertainties that could cause actual results to differ materially
from those in forward-looking statements. Factors that could cause
or contribute to differences include the uncertainty regarding
viability and market acceptance of the Company's products and
services, changes in relationships with third parties, the changing
regulatory environments governing the Company’s products and
services, and other factors described in the Company's periodic
filings with the Securities and Exchange Commission, including its
Annual Reports on Form 10-K and quarterly reports on Form
10-Q.
Contact: Raymond Medeiros PR and Business Development Director Phone: 415-601-1974 ray@freedomleaf.com Freedom Leaf, Inc.