New Leaf Ventures Market Share Growth Driven by Expanded Production
VANCOUVER, British Columbia, April 20, 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 have quantifiably grown regional market share of its licensed brands through New Leaf Enterprises.
The recent announcement regarding the License Holder’s ability to acquire a retail value of $3M USD of additional biomass as well as increased production capability positions the Company to immediately increase B2B sales and fully prepare for increased annual demand ahead of the industry-wide 420 holiday event.
Commissioning of New Leaf’s all-new trimming, tamping, and sorting equipment has led to pre-roll historic production output and increased revenues. Overall advancements in the pre-roll category now include a new line of infused rolled cannabis products offering customers diversity of choice including a range of product potency.
License Holder revenues have been most noticeably improved by a first quarter (Q1) increase of 35%. Retail accounts have grown by 40% since the beginning of Q1 and include expansion across most of Washington state, with significant penetration into the eastern portions of the region.
In related news, New Leaf notes that this past year saw unprecedented growth which is being at least partially attributed to the distribution of stimulus payments, and to-date 2021 is maintaining a similar growth trajectory. The positive overall industry economics are generating new and exciting avenues of opportunity for New Leaf in terms of partner agreements, potential joint ventures, and enhanced product offerings. The Company is developing strategies to leverage its increasingly prominent regional role with an eye towards national participation. CNW (Cannabis News Wire) noted several industry updates recently including the passage of cannabis legalization for New York state with significant advancements in Connecticut, New Mexico, Pennsylvania, and Maryland. They further predicted that the industry would see increased investor interest in 2021 thanks to the 65% increase in sales the U.S. cannabis industry reported in 2020. These and similar sector indicators signal a renewed interest in national commercialization subject only to an increasingly overdue shift in Federal policies.
Robert ‘Dax’ Colwell, CEO, Co-Founder, New Leaf USA & Director, New Leaf Ventures Inc. comments, “The annual 420 event is always a very big deal for everyone involved in and around our industry. Because of the interest this event brings, the newly leased equipment will really help deliver even more products to the brands growing customer base. I’m also personally excited because we are on the cusp of the upcoming launch of our upgraded industrial kitchen. In fact, in honor of the new kitchen we will also be releasing “Spaceballs,” our newest and most exciting edible product line and I can’t wait to share more about that in the coming weeks. But while celebration is great, we are all still definitely suffering from the effects of the pandemic. Undoubtedly there is a pathway to hope ahead, but it may still be a while before we are all able to congregate safely. So, this year please enjoy 420 responsibly, as we all need to help keep each other safe and healthy. On behalf of our team, partners, stakeholders, and shareholders alike, enjoy a good 420 as we look forward to catching up with each and every one of you next year.”
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
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