Golden Leaf Holdings Announces Changes to Board of Directors

Company appoints Scott Secord as Director and Richard Carl as Board Observer

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PORTLAND, Ore., March 29, 2021 (GLOBE NEWSWIRE) — Golden Leaf Holdings Ltd. (CSE:GLH) (OTCQB:GLDFF) (“Golden Leaf” or the “Company”), a premier, consumer-driven cannabis company specializing in retail, production, processing, wholesale, and distribution, announced today the appointment of Scott Lawrence Secord, Managing Partner of Shore Capital Sports & Entertainment, and Richard Carl, former President and Chief Operating Officer of AGS Capital Corporation, to the Company’s Board of Directors. Secord is appointed as a director of the Corporation and Carl is appointed as an observer. These appointments increase the Company’s Board of Directors to seven and are effective immediately.

“We are pleased to have Scott join the Board immediately and for Richard to join as an observer to the Board,” said Rick Miller, the Lead Director of the Company’s Board of Directors. “We look forward to benefitting from Scott’s experience in the cannabis space as well as Richard’s capital markets acumen and risk management expertise. Both bring many years of public company board and audit committee experience, as well strong capital markets experience.”

Mr. Secord has served as Shore Capital Sports & Entertainment’s Managing Partner since November 2020. He also currently serves as the Executive Chairman and a member of the Board of Directors for RISE Life Science Corp., a public company that has developed a line of proprietary CBD products. Scott previously served as Gaming Nation’s President and CEO, before selling the company to Orange Capital Partners in 2018. Prior to Gaming Nation, Scott held the position of President and CEO of Pointstreak Sports Technologies from 2009 to 2015, resulting in numerous accolades, including winning Deloitte Technology’s ‘Fast 50’ and ‘Fast 500’ awards. He led the company’s successful public spin-out of its game business while selling the core sports data and content business to Providence Equity and Blue Star Sports.

Mr. Carl currently serves on the board of ARHT Media Inc., Clearview Resources Limited, and InvestPlus REIT and is a past director of Dealnet Capital Corp. He has over 20 years of experience as a director and advisor to public and private companies across a wide variety of industries, including oil and gas, real estate, financial services, mining, and technology. He has assisted companies in capital raising, mergers and acquisitions, debt restructurings and risk management.

About Golden Leaf Holdings
Golden Leaf Holdings is a premier consumer-driven cannabis company specializing in production, processing, wholesale, distribution and retail, with 7 dispensaries in Portland, Oregon. The Company is committed to developing a dynamic portfolio built around the recognized brands of Chalice Farms, with a focus on health and wellness.  Markets served include Oregon, California, Nevada and Washington.   Visit glhmonthly.com for regular updates.

Investor Relations:
John Varghese
Executive Chairman
Golden Leaf Holdings Ltd.
971-371-2685
ir@goldenleafholdings.com

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Disclaimer: This press release contains “forward-looking information” within the meaning of applicable securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the Company’s future business operations, the opinions or beliefs of management and future business goals. Generally, forward looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. These risks include but are not limited to general business, economic and competitive uncertainties, regulatory risks, market risks, risks inherent in manufacturing and retail operations such as unforeseen costs and production shutdowns, difficulties in maintaining brand loyalty, and other risks of the cannabis industry. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking information. Forward-looking information is provided herein for the purpose of presenting information about management’s current expectations relating to the future and readers are cautioned that such information may not be appropriate for other purpose. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws. This press release does not constitute an offer of securities for sale in the United States, and such securities may not be offered or sold in the United States absent registration or an exemption from registration or an exemption from registration.