Freedom Leaf Announces Closing of a $5 Million Round of Growth Capital


Ryan Allway

November 18th, 2019

News


Financing supports the evolution of the Company into a leading CBD Hemp player in North America

Dallas, Texas (November 18, 2019) – Freedom Leaf, Inc.  (“Freedom Leaf” or the “Company”) (OTCQB: FRLF), a first in class hemp consumer packaged goods company that recently acquired Green Lotus™ to build its position as a leading provider of natural cannabinoid-rich hemp products, announced today that it closed a $5 million convertible note financing led by an affiliate of Merida Capital. David Goldburg, Chairman of the Board, and Dave Vautrin, Independent Director, invested $125,000 and $67,000, respectively, in the convertible note financing. Proceeds from the financing will primarily support the Company’s production, marketing, and sales efforts as it continues to build its position as a leading CBD and hemp company servicing the North American and Mexican markets.

The financing is in the form of a unit consisting of a three-year senior unsecured note accruing interest at 8%, convertible at the holder’s option into the Company’s common stock at $.20 per share, and a three-year warrant to acquire shares of the Company’s common stock. A portion of the proceeds in the financing represent the cancellation of existing promissory notes held by affiliates of Merida Capital. For additional details, please reference the Form 8-K to be filed with the U.S. Securities and Exchange Commission.

Carlos Frias, CEO and Board Member of Freedom Leaf, commented: “This financing will give the Company the necessary capital to fulfill a robust pipeline of new orders from our distribution partner in Mexico, CBD Life SA; Greenlane Holdings, a leading distributor of cannabis and CBD products in the U.S; and several other leading regional and national retailers who are increasingly looking to meet consumer demand with today’s highest quality CBD and hemp products.”

David Goldburg, Chairman of the Board of Freedom Leaf, added: “The acquisition of Green Lotus has positioned the Company to become a leading consumer packaged goods CBD and hemp player in North America. The conversion price of the convertible note, which is at a substantial premium to the current market price, reflects the high level of confidence Merida has in the ability of the Company to execute on its business plan.”

Freedom Leaf acquired Green Lotus™ on May 31, 2019, immediately enabling the launch of a more robust product line focused on leading CBD and hemp products, enhanced distribution capabilities and penetration into high-growth emerging markets worldwide.

About Freedom Leaf, Inc. 

Freedom Leaf Health is a first-in-class hemp consumer packaged goods company with a family of trusted brands that provide premium hemp products for greater wellness, balance and longevity. Green Lotus™ and IrieCBD are the Company’s foremost brands, offering premium hemp products such as topicals, tinctures, vapables, softgels and sparkling beverages. Freedom Leaf Health is a fully reporting and audited publicly-traded company trading under the symbol (OTCQB: FRLF).

About Green Lotus™

Green Lotus™ is a premium hemp brand that provides responsibly produced, natural cannabinoid-rich products to consumers and businesses. The brand is veteran-led and powered by a diverse team dedicated to promoting a world where the restorative power of hemp is accessible to all people. For more information, please visit https://greenlotushemp.com.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

Ryan Allway

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.


Network Partners

Follow Us on Social Media

About CFN Media Group

CFN Media Group (CannabisFN), owned and operated by CFN Enterprises Inc. (OTCQB: CNFN), is the leading creative agency and media network dedicated to legal cannabis. We help marijuana businesses attract investors, customers (B2B, B2C), capital, and media visibility. Private and public marijuana companies and brands in the US and Canada rely on CFN Media to grow and succeed.

CFN launched in June of 2013 to initially serve the growing universe of publicly traded marijuana companies across North America. Today, CFN Media is also the digital media choice for the emerging brands in the space.

Learn How Your Company can Be Covered on CFN Media

Learn More About the CFN Media Sponsored Content Program

Disclaimer: Matters discussed on this website contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. CFN Media Group, which owns CannabisFN, is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. CFN Media Group, which owns CannabisFN, may from time-to-time have a position in the securities mentioned herein and will increase or decrease such positions without notice. The Information contains forward-looking statements, i.e. statements or discussions that constitute predictions, expectations, beliefs, plans, estimates, or projections as indicated by such words as "expects", "will", "anticipates", and "estimates"; therefore, you should proceed with extreme caution in relying upon such statements and conduct a full investigation of the Information and the Profiled Issuer as well as any such forward-looking statements. Any forward looking statements we make in the Information are limited to the time period in which they are made, and we do not undertake to update forward looking statements that may change at any time; The Information is presented only as a brief "snapshot" of the Profiled Issuer and should only be used, at most, and if at all, as a starting point for you to conduct a thorough investigation of the Profiled Issuer and its securities and to consult your financial, legal or other adviser(s) and avail yourself of the filings and information that may be accessed at www.sec.gov, www.pinksheets.com, www.otcmarkets.com or other electronic sources, including: (a) reviewing SEC periodic reports (Forms 10-Q and 10-K), reports of material events (Form 8-K), insider reports (Forms 3, 4, 5 and Schedule 13D); (b) reviewing Information and Disclosure Statements and unaudited financial reports filed with the Pink Sheets or www.otcmarkets.com; (c) obtaining and reviewing publicly available information contained in commonlyknown search engines such as Google; and (d) consulting investment guides at www.sec.gov and www.finra.com. You should always be cognizant that the Profiled Issuers may not be current in their reporting obligations with the SEC and OTCMarkets and/or have negative signs at www.otcmarkets.com (See section below titled "Risks Related to the Profiled Issuers, which provides additional information pertaining thereto). For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity-based compensation in the companies it writes about, or a combination of the two. For full disclosure, please visit: https://www.cannabisfn.com/legal-disclaimer/. A short time after we acquire the securities of the foregoing company, we may publish the (favorable) information about the issuer referenced above advising others, including you, to purchase; and while doing so, we may sell the securities we acquired. In addition, a third-party shareholder compensating us may sell his or her shares of the issuer while we are publishing favorable information about the issuer. Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. CFN Media Group, which owns CannabisFN, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. CFN Media Group, which owns CannabisFN, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two. For full disclosure please visit: https://www.cannabisfn.com/legal-disclaimer/.

Copyright © Accelerize Inc. · All Rights Reserved · Privacy Policy · Legal Disclaimer

loading