GL Brands (Formerly Freedom Leaf) Provides Record First Fiscal Quarter 2020 Revenue Guidance Closely Hitting a 4X Revenue Gro...
January 06 2020 - 8:03AM
InvestorsHub Cannabis NewsWire
GL Brands (Formerly Freedom Leaf)
Provides Record First Fiscal Quarter 2020 Revenue Guidance Closely
Hitting a 4X Revenue
Growth
Company to Participate in the
Virtual Investor Conference on January
9th
DALLAS, TX -- January 6, 2019
-- InvestorsHub NewsWire
-- GL Brands
(OTCQB: FRLF) (“the Company”), a multinational
hemp consumer packaged goods company and global house of brands, is
pleased to announce that revenue guidance for its recently
completed first fiscal quarter of 2020 ended Sept. 30, 2019 in the
range of $2.1 million to $2.5 million, as well as its upcoming
participation in the Virtual Investor Conference, taking place on
Thursday, Jan. 9, 2020 at 3:30 PM ET at
https://tinyurl.com/Cannabis-VIC-010920.
Record Revenue
Guidance for the First Quarter
2020
For the first fiscal quarter of
2020, the Company is projecting revenue in the range of $2.1
million to $2.4 million, matching its total audited 2019 annual
revenue of $2.1 million and surpassing its reported Q1 2019 revenue
of $0.6 million, an almost 4X revenue growth. This record revenue
growth is a result of the Company’s successful integration of Green
Lotus™ product lines and new distribution partnerships that have
positioned GL Brands’ hemp and CBD products on the shelves of major
retail chains throughout the U.S. and
Mexico.
“The first fiscal quarter of 2020
saw our strongest financial results to date,” said Carlos Frias,
CEO of GL Brands. “We see continued top-line growth. We know what
steps we need to take to make this business profitable in the
long-term. What enabled our near 4x growth in revenue was, first,
our successful migration and integration of Green Lotus™, and
second, our redefining the Company as both a hemp global consumer
packaged goods company and a house of brands. For the future, we’ll
continue to build brand awareness and increase the efficiency of
our supply chain for further rapid and sustainable
growth.”
Additionally, the Company will be
filing its 10Q for the period of July 1st to September
30th within the next 14
days.
Participation at
the Virtual Investor Conference Sponsored by the OTC
Markets
Mr. Carlos Frias, CEO of GL Brands will also be presenting live
at VirtualInvestorConferences.com sponsored by the OTC Markets on Thursday,
Jan. 9. The Virtual Investor Conference
will be a live, interactive online
event where investors are invited to ask Mr. Frias questions in
real-time.
DATE: Thursday, January
9th
TIME: 3:30PM
ET
LINK: https://tinyurl.com/Cannabis-VIC-010920
It is recommended that investors
pre-register and run the online system check to expedite
participation and receive event updates. If attendees are not able to join the
event live on the day of the conference, an archived webcast will
also be made available after the
event.
To learn more about the event, you can visit
www.virtualinvestorconferences.com.
About GL Brands
Inc.:
GL Brands is a multinational hemp
consumer packaged goods company that creates authentic, enduring
and culturally relevant brands engaged in the development and sale
of cannabis-derived wellness products. Through its premier brands
Green Lotus™ and IrieCBD, GL Brands delivers a full portfolio of
hemp and hemp-derived CBD products, including tinctures, softgels,
gummies, capsules, sparkling beverages, vapes, flower and topical
segments to promote greater wellness and balance, in the U.S. and
throughout the world. For more information, please visit https://www.glbrands.com.
About Virtual Investor
ConferencesSM
Virtual Investor Conferences is the
leading proprietary investor conference series that provides an
interactive forum for publicly-traded companies to meet and present
directly with investors.
A real-time solution for investor engagement, Virtual Investor
Conferences is part of OTC Market Group's suite of investor
relations services specifically designed for more efficient
Investor Access. Replicating the look and feel of on-site
investor conferences, Virtual Investor Conferences combine
leading-edge conferencing and investor communications capabilities
with a comprehensive global investor audience
network.
Forward-Looking
Statements: This press 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.
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
“believes,” “expects,” “anticipates,” “foresees,” “forecasts,”
“estimates” or other words or phrases of similar import. Similarly,
statements herein that describe GL Brands’ 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 GL Brands’ products and services, changes in relationships with
third parties, and other factors described in GL Brands’ most
recent periodic filings with the Securities and Exchange
Commission.
Media
Contacts
Anthony Feldman / Nick Opich
KCSA Strategic Communications
(347) 487-6194 / (212) 896-1206
afeldman@kcsa.com / nopich@kcsa.com
Investor
Contacts
Phil Carlson / Erika Kay
KCSA Strategic Communications
Phone: (212) 896-1233
Email: pcarlson@kcsa.com /
ekay@kcsa.com