Freedom Leaf Inc. Exceeds Revenue Guidance by 47%, Fiscal First Quarter Revenue Projected to Exceed Approximately $600,000 as Tierra Science Launches
Additions to Board and Executives: Former Goldman Sachs Managing Director and Executives from MySpace, McCann-Erickson Marketing Join FRLF Team
Las Vegas, NV, Oct. 31, 2018 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — Freedom Leaf Inc (OTCQB: FRLF) has surprised analysts and investors by exceeding its revenue guidance for its last quarter of its June 30 2018 fiscal year of $400K issued in a press release on July 3rd by 47% delivering revenue of $590K. Additionally its latest acquisition, Tierra Sciences Global, has generated $167K in the first 30 days of their prelaunch in affiliate marketing campaign. We project that the first quarter of our current fiscal year will be above approximately $600,000. Freedom Leaf CEO Clifford J Perry stated, “2018 was a transition year as we integrated Irie and Hempology brands and rationalized our supply chain. Closing Q4 with a 47% above our revenue guidance reflects these efforts and sets us up for a strong year of growth in 2019.”
The Company also announced the following key Board of Director appointments:
Mr. David Goldburg, Senior Partner of Merida Capital Partners, a private equity fund, has been appointed to the Board of Directors of Freedom Leaf Inc. Mr. Goldburg has specialized in credit investing for the past 25 years, managing proprietary investment portfolios at leading Wall Street firms and hedge funds. Before joining Merida, he founded Battlebourne Capital, a cross-capital structure investment firm, in January 2016. Prior to Battlebourne, Mr. Goldburg served as the senior member of the New York office of Silver Rock Financial, Michael Milken’s family office, since its inception in 2010 until his departure in January 2016. In September 2009, Mr. Goldburg formed Garnet Financial, a $200 million special situation credit vehicle funded by the Milken family. He was the portfolio manager of Garnet until it was merged into Silver Rock at the end of 2010.
Previously, Mr. Goldburg was a Managing Director at Goldman Sachs in the Bank Loan Distressed Investing Group, where he became responsible for managing a $1.0+ billion proprietary investment portfolio and a team of nine analysts. Prior to joining Goldman Sachs, he had senior responsibility managing distressed credit portfolios at Oak Hill Advisors, Morgan Stanley, and Bear Stearns. Mr. Goldburg began his career as an analyst in the mergers and acquisitions group at the First Boston Corporation, received a B.A. in History from Brown University and is a Harry S. Truman Scholar.
Ms. Jane Cavalier, CEO of Brightmark Consulting, a leading brand strategy advisory firm, has joined the company’s Strategic Advisory Council. Ms. Cavalier has over twenty-five years of brand marketing experience, as a global brand strategist, Chief Marketing Officer and advertising executive. She has shaped brand and marketing strategies for over 50 organizations and is widely recognized for building some of the world’s most iconic brands. Ms. Cavalier has been internationally recognized for creating such “renegade” brands as Snapple “Made from the Best Stuff on Earth,” Qwest “Ride the Light” and the groundbreaking “BlindNewWorld” public service campaign for Perkins School for the Blind. Prior to founding Brightmark, Ms. Cavalier directed strategic planning at McCann-Erickson Worldwide, where she built McCann’s global consulting unit and has been a visiting professor at New York University’s Stern School of Business and the Yale School of Management.
Mr. Joseph Abrams has joined Freedom Leaf’s Strategic Advisory Council. Mr. Abrams has over thirty years of professional experience as a serial entrepreneur, capital structure and strategic business development advisor and early stage investor. Mr. Abrams was the co-founder of Toolworks where he served as President and Chief Operating Officer. Toolworks was successfully sold to Pearson PLC for $460M, as well as co-founder of eUniverse, Intermix Media and social media network MySpace. He was an early stage investor in Recruiter.com, one of the largest paid recruiter networks on the planet, an early stage investor in Akeena Solar, and is the owner and operator of seven orthotics and prosthetics clinics. He serves on the board of the Williams School of Business and the Simon School of business, both at the University of Rochester as well as the advisory board of Petroeq Energy.
Additionally, Freedom Leaf announced the following key corporate executive appointments:
Mr. Richard A. Bolandz, Managing Partner of the International Consultants Consortium, (ICC) who had been acting Special Assistant to Freedom Leaf’s CEO for Operations has joined the company as Chief Operating Officer. Mr. Bolandz has over 25 years of professional experience in the field of competitive strategy, the strategic management of technology, and the application of technology to corporate development, business transformation and organizational change. Prior to his tenure at ICC, Mr. Bolandz has held successive C level positions within the Fortune 500 and has led four successful emerging technology start-ups as CEO. Before embarking on his career as an operating executive, he served as Director Technology Enabled Business Transformation at CSC Index Consulting, as an international competitive strategy consultant with Booz Allen & Hamilton, and an intelligence officer with the Central Intelligence Agency.
Mr. Christopher Thompson has been promoted to Chief Marketing Officer after serving three years with The Company, first as Director of Digital Marketing, and then Director of Marketing for the new Hempology product line. Mr. Thompson joined Freedom Leaf after graduating with a degree in Biological Engineering from Purdue University, where he learned how to apply engineering-based problem-solving strategies to the design, development, and execution of brand strategy and marketing campaigns. He has also served as the Executive Director and Co-Founder of the Las Vegas NORML Chapter, and has had a hand in founding 6 other non-profit NORML chapters across the country. Mr. Thompson is now leading the Freedom Leaf corporate marketing division and interfaces directly with all of Freedom Leaf’s subsidiaries to align individual market strategies with The Company’s overall corporate brand strategy. Going forward, Mr. Thompson will be continuing to expand The Company’s in-house marketing team and developing new, innovative products to increase The Company’s global brand recognition and market share.
Freedom Leaf CEO and Co-Founder Clifford J. Perry, said, “We are very proud that these leaders have joined the Freedom Leaf team. This is a great vote of confidence in our company.”
All of the Freedom Leaf Inc. brands will be on display in a massive 20×20 island booth (#1869) at MJBizCon at the Las Vegas Convention Center from November 14th through 16th. The Freedom Leaf Inc. booth will feature upgraded lead capture systems and digital order processing for maximum effectiveness at generating bulk orders and marketing email lists at the show. The entire hemp and cannabis industry is invited to see what is new from Freedom Leaf’s subsidiaries, including Hempology, Leafceuticals, and Irie CBD.
About Freedom Leaf
Freedom Leaf Inc. (OTCQB: FRLF), a group of diversified, international, vertically-integrated hemp businesses concentrating on health, wellness, and education as well as cannabis media companies. 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 decades of 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.
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.
About Merida Capital Partners
Merida Capital Partners is a private equity firm targeting fundamental growth drivers which accelerate the rapid development of the cannabis industry. Our motto, Responsible Investing in the Emerging Cannabis Industry, highlights our focus on cultivation technologies, products and services associated with the evolution of cannabis as an agricultural product, a natural plant-based medicine, a constituent in pharmaceutical formulations and a recreational consumer product. For more information, please visit www.meridacap.com or follow us on twitter @meridacap.
Safe Harbor Statement
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.