Golden Leaf Holdings Ltd (OTCMKTS:GLDFF) Reports Revenues Of $5.5 Million In Q4 2020 And Positive Adjusted EBITDA Of $342,000

Golden Leaf Holdings Ltd (OTCMKTS:GLDFF) reported a robust growth of 53% YoY to $5.5 million in earnings in Q4 2020. It also posted a positive adjusted EBITDA of $342,000 in the quarter.

Posts profits of $6.8 million

Its full-year revenues are $21.9 Million (up 39% YoY). The company also realized profits of $6.8 million in 2020. It also reported a cash flow of $170,000 in H2 2020.

Achievements

Golden Leaf holds a talented management team at its disposal to achieve success despite the COVID-19 pandemic. The company utilized its cannabis team and Chalice reputation to clinch exception purchase terms for its retail stores. 

Golden Leaf reorganized its Bald Peak Grow facility and hired a director (cultivation), who won several awards for his exceptional leadership skills. 

The company commenced an in-house breeding program to create unique strains and serve seasoned and new consumers. 

Golden Leaf launched an omnichannel advertisement channel. It is used to create a non-traditional and innovative approach to collaborative marketing and vendor associations. The company also offered collaborative discounts to attract partners. 

Golden Leaf minimized cash flow obligations of $2.5 million by modifying the earn-outs of its Chalice Farms and restructuring the balance sheet. It also arranged a manageable payment schedule for the balance payments of more than five years commencing 2022.

Events after 2021

Golden Leaf received the consent of convertible debenture holders on January 21, 2021, to extend the due date by one more year to November 16, 2022, with a revised conversion price of $0.06.

Golden Leaf raised $$13.7 million through a non-brokered private placement in Q1 2021 to complete the takeover of a retail outlet as previously announced. 

The company signed an LOI to purchase a Northwest-based retail store chain on February 26, 2021, and expect to complete the deal by April 2021. It also converted debentures of CAD 3.7 million to equity shares in Q1 2021. 

Golden Leaf acquired a stake of 80% in Fifth & Root, the CBD skincare brand, on April 8, 2021. 

Golden Leaf reported an increase of 48% in daily 420 revenues. CEO of Golden Leaf, Jeff Yap, said the company’s growth is on the backdrop of the efforts of its partners and the works of its teams at Chalice Farms. 

Golden Leaf would also expand its partnership marketing to continue the presence in Oregon.