Golden Leaf’s Innovative Partnership Approach to 420 Leads to Back-to-Back Record Setting Performance

PORTLAND, Ore., April 22, 2021 (GLOBE NEWSWIRE) — Golden Leaf Holdings Ltd. (CSE: GLH) (OTCQB: GLDFF) (“Golden Leaf” or the “Company”), operating under Chalice Farms, a premier, consumer-driven cannabis company specializing in retail, production, processing, wholesale, and distribution, announces a 43% increase in recorded daily 4/20 revenues and a 68% increase over two years ago on the same store footprint. “It was a 420 like no other and it would not have been possible without the work of the entire Chalice Farms team and our incredible partners,” said Jeff Yapp, CEO of Golden Leaf Holdings.

As the Company continues to expand its physical footprint in the Oregon market, it has also looked to expand its partnership marketing. Piloted this past Holiday season, Chalice Farms has launched a vendor collaboration program, which leverages Chalice Farms’ innovative marketing platform.

“Collaboration and co-marketing partnerships were at the heart of 420 this year, as branded content becomes essential to omni-channel marketing. As the ecosystem continues to explode, we are seeing the convergence of digital and physical retail showing strong engagement and revenue. Chalice is leading the charge in innovation across the cannabis landscape, and we are investing in technology and content marketing to accelerate and scale at a rapid pace,” said Karen Morgan, Chief Marketing Officer of Chalice Farms.

“The partners selling product through the Chalice Farms stores are as important to the overall success of the Company, as the bricks and mortars themselves,” said John Ford, Chief Revenue Officer. That is why it was important for Chief Cultivation Officer, Meghan Miller, to not only bring in the top brands in the state, but to ensure Chalice Farms was a champion for the small farmers and the companies looking to do things the ‘right way’.

“Overall, this was an exceptional day by any measure – definitely a 4/20 for the books. After what has been a challenging year for so many, to be able to come together and celebrate, along with a phenomenal 4/20 was a special moment for all involved. We would not be here without the partnerships we have forged over the past year and a half, and we can proudly say our partners feel the same way. We look forward to seeing what the next year holds in store for us all,” said Miller.

Chalice Farms encourages customers to take advantage of its online ordering platform, plus delivery and express pick-up offerings. While shopping in stores is still permitted, the number of customers in each retail location is being limited as an additional precaution and as a measure of social distancing. The Company’s online ordering platform allows customers to reserve products, select options for pick-up in store, have products delivered or utilize curbside pick-up.

Chalice Farms offers complimentary delivery services for orders of $60 or more, available daily beginning at noon. Deliveries are collected and distributed on an hourly basis, with an estimated wait time of 30 to 90 minutes. Customers interested in submitting online orders for delivery can place orders and find more information here: https://www.chalicefarms.com/delivery.

Chalice Farms advocates for cannabis accessibility with an emphasis on health and wellness benefits. Offered at its seven locations are more than 25 strains of cannabis, as well as a variety of concentrates, edibles, topicals and related products. The award-winning dispensary is led by a team of experienced operators and is known for its curated product selection, high-quality vendors and innovative sustainability efforts.

About Golden Leaf Holdings

Golden Leaf Holdings is a premier consumer-driven cannabis company specializing in production, processing, wholesale, distribution, and retail, with seven 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. GLH operates nationally through Fifth & Root and has operations in Oregon and California. Visit http://www.glhmonthly.com for regular updates.

Investor Relations:

John Varghese
Executive Chairman
Golden Leaf Holdings Ltd.
971-371-2685
ir@goldenxtrx.com

Media Contacts:

Sidney Stewart/Lauren Baumann
ChaliceFarms@WickedCreative.com

Disclaimers:

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.

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 purposes. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.