In 2018, FRLF is focusing on building out our revenue streams and acquiring revenue-generating companies like Irie CBD & Green Market Europe
LAS VEGAS, NV, March 22, 2018 (GLOBE NEWSWIRE) -- Freedom Leaf, Inc. (OTCQB: FRLF), a global leader in the cannabis/hemp ecosphere, today announced that it has hired Purdue University Biomedical Engineering graduate Nick Shi to oversee the Leafceuticals Inc hemp extraction, distillation and refining laboratory in North Las Vegas.
Leafceuticals Inc is Freedom Leaf’s wholly-owned extraction and manufacturing division that uses NuAxon CO2 supercritical extraction to manufacture wholesale hemp CBD oil, terpenes, rare cannabinoids, and other valuable byproducts of industrial hemp.
Clifford Perry, CEO and Co-Founder of Freedom Leaf, explained, “Adding yet another Purdue Engineering graduate to FRLF’s team of experts ensures we bring only the best engineering and scientific design to our Leafceuticals Inc extraction facility and Hempology CBD products.”
Chris Thompson, Freedom Leaf’s Director of Digital Marketing and another Purdue Engineering Alumni, commented, “We expect Nick will be another invaluable addition to the Leafceuticals Inc. production team, helping us increase product quality, optimize production speed, and reduce operating costs.”
In addition to hiring highly-skilled staff, Leafceuticals Inc is also in the process of expanding its facility in North Las Vegas, currently constructing two additional fully-functioning laboratory spaces for hemp CBD extracting, distilling, and refining.
Our test run of hemp flower has already garnered $50,000 in revenue this quarter, and CBD oil from hemp flower should start producing $65,000 a month in sales starting the month of April 2018. Within 5 months, after the lab is fully functional, the revenue is expected to grow to approximately $100,000 a month. Upon the installation of a new 50 Liter Supercritical CO2 Extractor by NuAxon BioScience, Inc. expected to be installed within 9 months, the revenue is projected to continue growing to $300,000 a month.
Perry went on to say, “In 2018, FRLF is focusing on building out our product revenue streams and acquiring revenue-generating companies, like our recent acquisitions of Irie CBD, Green Market Europe S.L., and LaMarihuana.com. These projects will continue to grow, develop, and significantly increase FRLF shareholder value.”
Earlier in March 2018, FRLF signed an Asset Purchase Agreement to acquire Irie CBD, a California-based product line that has been operating since 2015. Irie CBD formulates, manufactures and distributes CBD tinctures, CBD edibles, CBD topicals and CBD concentrates to retail markets across the country. Irie boasts a large inventory of more than 25 different products and recorded approximately $1.5 million of revenue in 2017. Irie also leases a full manufacturing and processing facility in Oakland, California that is included in the acquisition.
In January 2018, Freedom Leaf completed its acquisition of Green Market Europe S.L. and intends to become a global leader in mass production of high-quality, EU certified industrial hemp and related research. Luis Miguel Santos, managing director of Green Market Europe S.L., reported, “The greenhouse hemp crop to be harvested in 3 weeks has a projected revenue of approximately €160,000 ($200,000). There is an ever-growing demand for our high-quality hemp products.” Typically, the demand for hemp products in Europe is so strong that each crop of hemp is sold prior to its harvest.
In 2017, Freedom Leaf acquired LaMarihuana.com, the world’s leading Spanish language cannabis portal with an average 1.7 million hits a month and 1.2 million likes on Facebook. As part of the acquisition, Freedom Leaf additionally acquired Marihuana-Medicinal.com, which is one of the largest medical cannabis information websites in Spanish with over 122,000 page visits a month.
About Freedom Leaf®
Freedom Leaf, Inc., The Marijuana Legalization Company®, is a fully-reporting and audited, publicly-traded company trading under the symbol (OTCQB: FRLF), a group of diversified, international, vertically-integrated Cannabis/Hemp/CBD businesses and media companies.
Freedom Leaf, Inc. is a leading, go-to resource in the cannabis, medical and recreational marijuana, CBD and industrial hemp industries. It is involved in mergers and acquisitions in these industries, including acceleration and spin offs of new companies involved in those industries.
Freedom Leaf Inc.'s flagship publication is Freedom Leaf Magazine, The Good News in Marijuana Reform. The company produces a portfolio of news, print and digital multi-media verticals, websites, and web advertising, for the ever-changing emerging cannabis, medical marijuana and industrial hemp industry. The Company also controls LaMarihuana.com, the world’s leading Spanish publication focused on these industries.
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.
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