LAS VEGAS, NV, June 18, 2018 (GLOBE NEWSWIRE) -- Freedom Leaf, Inc. (OTCQB: FRLF), a group of international vertically integrated hemp businesses focused on health, wellness, education and media products, has acquired a 430,000-square-foot greenhouse complex near Valencia, Spain for €4,100,000 ($4.75 million) 39°16'46.0"N 0°27'31.1"W
The facility is fully operational and is equipped for light deprivation to force plants to flower, which will allow it to produce up to four crops per year.
Over 100,000 hemp seedlings have already been planted with more being planted everyday till the end of this month. The facility is projected to yield over 100,000 plants this first summer crop, with an approximate yield of 200-400 grams per plant. Currently, in Europe, hemp bud sells for €45 to €$450 per kg based on the quality of the seed stock and strain.
Clifford J. Perry, Freedom Leaf co-founder and CEO, explained: “With this acquisition, Freedom Leaf intends to become the largest indoor hemp producer in Europe, where there is a booming market for CBD products. We expect to have the facility in full production by early 2019. It will replace our much smaller operation near Elche, as we have dissolved our previous arrangement with Green Market Europe by mutual agreement.”
Perry added, “We currently have orders in excess of 3,000 kilos of European-Certified (low THC.02%), industrial hemp for flower and full spectrum oil extraction with projected sales of close to $600,0000 in November of 2018. When in full operation in 2019, with state of the art upgrades, we anticipate this facility will produce over 50,000 kilos of high-grade industrial hemp per year. When recreational cannabis is legalized, it will be easy for us to convert our production to meet that demand.”
The facility was formerly the largest poinsettia nursery in Europe with advanced technologies, such as:
Freedom Leaf co-founder Richard Cowan noted: “Europe is also moving rapidly toward the recognition of the medical value of full spectrum (high THC) medical cannabis (marijuana). Last week, the Parliament of the Valencian ‘Province/State’ voted overwhelmingly to create a parliamentary commission to study how to legalize the cultivation and use of high-THC medical marijuana. This proposal will put pressure on the new national government in Madrid to take a more progressive stance on cannabis legalization. The European potential market for recreational cannabis is estimated to be larger than the U.S. market.”
Marijuana Business Daily reports, “Europe could become the world’s largest legal cannabis market over the next five years if every or most of the continent’s roughly 50 nations introduces legislation and regulations, according to a new report.
“The second edition of the European Cannabis Report – produced by London-based advisory group Prohibition Partners – suggests that with 12% of the continent’s 739 million people being either ‘irregular and intensive’ cannabis consumers, Europe’s annual:
About Freedom Leaf, Inc.®
Freedom Leaf, Inc., The Marijuana Legalization Company®, is a group of diversified, international, vertically-integrated hemp businesses concentrating on health, wellness, and education as well as cannabis media companies. Freedom Leaf Inc. is a fully-reporting and audited publicly-traded company under the symbol (OTCQB: FRLF). Freedom Leaf Inc. has been a leading go-to resource in the cannabis, medical marijuana and industrial hemp industries since 2014, founded by professionals with over 200 years combined experience in marijuana legalization advocacy. FRLF is building a diverse portfolio of valuable businesses through strategic mergers, acquisitions, and acceleration projects across the industry.
FRLF’s large portfolio of acquisitions and properties includes: our recently acquired full spectrum hemp oil product line - Irie CBD; our wholly-owned hemp extraction division - Leafceuticals, Inc.; our exclusive health and wellness full spectrum hemp oil brand - Hempology, our just-acquired indoor hemp greenhouse in Valencia, Spain for the cultivation of Hemp; our hemp-based rolling paper company - Plants to Paper; two of the largest Spanish-speaking cannabis web portals in the world - LaMarihuana.com and Marihuana-Medicinal.com, and of course our flagship publication - Freedom Leaf Magazine.
Utilizing these mergers and acquisitions, Freedom Leaf Inc. is continually building a solid foundation for our vertically-integrated hemp company to maximize both revenue growth, and net profit, which will increase our shareholders value. Our cultivation and extraction divisions allow FRLF to grow and source our own hemp CBD, which allows dramatically lower production costs for our wholly-owned CBD product lines, thereby generating more revenue for each product sold. We formulate and manufacture the majority of our products in our own in-house formulation centers, also greatly reducing our costs and increasing revenue. In addition, our extensive domestic and international media companies ensure we can continuously direct traffic to our many ecommerce sites and nationwide retail locations.
Freedom Leaf Inc. also sells licenses to use the Freedom Leaf brand in different countries and states across the globe. We have entered into three license agreements: for Spain and Portugal, for The Netherlands, and for Southern California.
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.
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Statements in this press release that are not strictly historical are "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally can be identified by phrases such as Freedom Leaf, Inc. or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import. Similarly, statements herein that describe the Company's business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. Factors that could cause or contribute to differences include the uncertainty regarding viability and market acceptance of the Company's products and services, changes in relationships with third parties, and other factors described in the Company's most recent periodic filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K dated June 30, 2016 and quarterly reports on Form 10-Q.
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