VANCOUVER, British Columbia., March 16, 2021 (GLOBE NEWSWIRE) -- New Leaf Ventures Inc. (CSE: NLV) (OTC: NLVVF) (“New Leaf,” “NLV” or the “Company”), a management and investment organization dedicated to evaluating, investing and accelerating advanced stage operations in the North American Cannabis sector advises that its New Leaf USA venture equipment upgrades and increased market visibility are poised to deliver second quarter growth.
With the acquisition and implementation of new state-of-the-art equipment coming online, the Company reports that for the first time in the License Holder’s history, biomass processing capability has exceeded projected capacity. The equipment now includes all-new dried flower trimming and sorting machines, advanced drying and curing systems along with extensive pre-roll automation.
The business development team concurrently reports that favorable relationships, many of which are long-standing, with local Tier l, 2 and 3 farm operators has secured opportunities to acquire an additional 1,000 pounds of quality biomass with a retail value of approximately $3M USD. With the additional processing capability in-place, New Leaf USA is confident this will result in the ability to service a significant increase in regional consumer market share.
Looking ahead, the increase in production output further accelerates plans to position New Leaf USA as a service provider to several underproducing regional brands. The business development team has been working diligently towards today’s announcement that New Leaf USA will offer production contracts across a range of white label brand services for operations with known manufacturing constraints. The Company anticipates outsourced services to grow on par with demand, especially as pandemic restrictions ease over the coming months.
Boris Gorodnitsky, President, New Leaf USA & Director, New Leaf Ventures Inc. notes, “We are thrilled to advise that our long-term operational plans are beginning to come online and unlock the added-value we envisioned from the outset. The newly activated equipment boosts our primary production services in combination with our upcoming industrial kitchen upgrades. This is all the result of strategic planning and investment throughout much of last year. As a result, we now enter a period of tactical advantage through increased output poised to drive previously unattainable sales opportunities. This newfound ability combined with our entry into the infused edible and beverage sectors positions New Leaf to capture market share and revenues to the benefit of our partners, stakeholders, and shareholders alike.”
About New Leaf Ventures Inc. (CSE: NLV) (OTC: NLVVF)
New Leaf Ventures Inc. is developing a cannabis sector-based scalable securities concept of focused financing and applied management to achieve earnings growth through targeted investment. The Company’s flagship enterprise is New Leaf USA and its subsidiaries, which provide licenses, consulting services, real property, intellectual property and equipment for lease and ancillary services to a Washington-based Tier 3 Producer/Processor focused on cultivating, growing, processing, packaging, and distributing cannabis and cannabis related products. Find out more at: https://newleafventuresinc.com/.
For further information, please contact:
New Leaf Ventures Inc.
Invictus Investor Relations
Tel: +1 (604) 330-9220
Email: investors@newleafventuresinc.com
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