GL Brands (Formerly Freedom Leaf) Provides Record First Fiscal Quarter 2020 Revenue Guidance Closely Hitting a 4X Revenue
January 06 2020 - 11:06AM
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, 2020 -- 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