"The growth of hemp-derived CBD products is
accelerating rapidly and Freedom Leaf, with its strong
suite of brands, is an upcoming contender"
Las Vegas, NV -- November 28, 2018 --
InvestorsHub NewsWire -- Freedom Leaf
Inc (OTCQB: FRLF), (the ‘Company’), parent company of leading
CBD health and wellness brands Leafceuticals, Irie
CBD and Hempology, announced today that Merida
Capital Partners (“Merida”) Senior Partner David Goldburg has
been named Chairman of Freedom Leaf’s Board of Directors.
This announcement follows a recent Merida equity
investment of $3,000,000in the Company. Mr. Goldburg replaces
Paul F. Pelosi Jr., who leaves the Board to devote more time to his
other business endeavors.
Mr. Goldburg has specialized in credit investing for the past 25
years, having managed investment portfolios at leading Wall Street
firms and hedge funds. Prior to joining Merida in 2017, Mr.
Goldburg established the New York office of Silver Rock Financial,
the Milken family office. Mr. Goldburg also served as a Managing
Director at Goldman Sachs, overseeing a billion dollar proprietary
investment portfolio.
“The growth of hemp-derived CBD products is accelerating rapidly
and Freedom Leaf, with its strong suite of brands, including the
recently
announced Hemp2o acquisition,
is well positioned for this tremendous opportunity in consumer
markets,” said Mr. Goldburg. “I look forward to helping Freedom
Leaf become a leading hemp-derived CBD product supplier while
Merida continues to identify strategic acquisitions that will fuel
the Company’s growth trajectory.”
Clifford J Perry, CEO, noted: “Freedom Leaf thanks Mr. Pelosi Jr
for his leadership on areas of corporate governance. We are
excited about the expanding role Mr. Goldburg and Merida will play
as we accelerate our growth and continue to expand our global
vertically-integrated hemp platform with a focus on health and
wellness products for the consumer.”
The Company also announced the promotion of Laurence Ruhe,
currently the Company’s Controller, to Chief Financial Officer.
Ruhe replaces Richard Groberg, who will remain on the
Company’s Board and also serve on the Board’s newly-formed Finance
Committee.
Mr. Ruhe joined Freedom Leaf in July with over 30 years of
finance experience, most recently as SVP of Global Finance at BMM
International, a leading provider of testing services to the gaming
industry with offices in ten countries. Mr. Ruhe held senior
finance positions at Progressive Gaming and Konami Gaming focusing
on internal controls and SOX implementation. Mr. Ruhe also worked
in international banking, including positions at Wells Fargo,
Deutsche Bank, and Banca CRT.
The Company also announced today its acquisition of the assets
of Accuvape,
Inc. (www.accuvape.net),
which manufactures and sells personal vaporizer devices and
accessories under the health and wellness category. The
company was founded in 2013 as a vaporizer and small electronics
company to fill the growing needs of the emerging vape market.
Accuvape distributes its four vape models in all 50 states, Canada,
the UK and EU and has Midwest and West Coast distribution centers
with hundreds of retailers that carry its products. Accuvape
has received numerous product awards and its proprietary V. Stick
AV is the only adjustable voltage battery with no buttons.
Hilary Dulany, Accuvape’s founder who will continue to manage
the company, commented: “Accuvape has set the standard for personal
vaporizers offering new, easy vaporizing options that won’t break
the bank or disappoint. We are known as the go-to brand for
no hassle enjoyment by both new market entrants and experts alike.
As part of the Freedom Leaf family, we will be able to roll out
product more quickly and expand our national footprint.”
About Freedom Leaf
Freedom Leaf Inc. (OTCQB: FRLF), is a global,
vertically-integrated clean health company producing and selling a
diverse range of premium full spectrum hemp-derived CBD products
used by healthcare professionals and consumers. The company
currently offers professional grade solutions, over-the-counter
consumer health and wellness products and a pet line under the
Leafceutical, IrieCBD, and Hempology brands. Once the previously
announced Hemp2o acquisition is closed, the Company will offer
hemp-infused beverages at leading retail locations throughout the
country.
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.
About Merida Capital Partners
Merida Capital Partners is a private equity firm targeting
fundamental growth drivers which accelerate the rapid development
of the cannabis industry. Our motto, Responsible Investing in
the Emerging Cannabis Industry, highlights our focus on
cultivation technologies, products and services associated with the
evolution of cannabis as an agricultural product, a natural
plant-based medicine, a constituent in pharmaceutical formulations
and a recreational consumer product. For more information, please
visit www.meridacap.com or follow us on
twitter @meridacap.
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, and other
factors described in the Company's most recent periodic filings
with the Securities and Exchange Commission, including its Annual
Report on Form 10-K dated June 30, 2016 and quarterly report on
Form 10-Q dated September 30, 2018.
Contact: Raymond Medeiros PR and Business Development Director Phone: 415-601-1974 ray@freedomleaf.com Freedom Leaf, Inc.