October 18, 2017 06:30 ET
Freedom Leaf Inc Releases First Video From Green Market Europe In Spain; Notice On Filing (OTCQB: FRLF) Annual Report (10-K)
Pursuant to the Order for companies affected by Hurricane Irma all reports, schedules or forms must be filed on or before 10/19/17 SEE BELOW
LAS VEGAS, NV–(Marketwired – Oct 18, 2017) – Freedom Leaf Inc., (OTCQB: FRLF), The Marijuana Legalization Company™, is pleased to release the first video of the progress of our overseas investment in Green Market Europe S.A. located in Elche, Spain. Freedom Leaf Fashion Brands, starting with Hempstalkers™ sneakers and apparel made in Elche, Spain, our Spanish HQ, which is a major center for the shoe industry in Europe. Production is expected to begin by end of 2017.
Based on purchase orders already received for delivery in the next few months we expect a little over $1.0 million in revenue for Green Market Europe S. A. during our current fiscal year ending June 30, 2018. Green Market Europe S. A. is the target company as stated in our press release announcing the signed Letter of Intent. It is anticipated that the Acquisition Contract will be signed in November 2017 after our Auditor has completed the audit.
Freedom Leaf and Green Market Europe signed a letter of intent for Freedom Leaf to acquire 100% of GME’s IP, projects and assets. The acquisition is expected to close within the next 30 days. Freedom Leaf has agreed to expand two additional growing operations internationally before the end of 2019 to maximize skills and potential of staff.
“This operation will make an interesting addition to our business model, through the Intellectual Property generated, as well as products and services offered to International market increasing our network of clients,” noted Clifford J Perry, Co-founder and CEO of Freedom Leaf Inc.
Luis Miguel Santos, Founder of GME comments, “We are thrilled to be a part of the Freedom Leaf group and expect to benefit from our mutual collaboration in the near term and into the future. We are confident Green Market Europe is already the most technically advanced hemp producer in Spain, but being a part of Freedom Leaf will help us become a company with global reach, expand operations overseas and maximize our know how and expertise required in this very versatile plant.”
GME facilities include a 21,000-sq. ft. light deprivation greenhouse that allows increasing the number of crops per year, a 43,000-sq. ft. greenhouse and indoor growing facility for Genetic research. GME is strategically located in Elche, Alicante, an important Spanish business hub, with great year-round weather conditions for agricultural growing and it is also a traditional Hemp growing region.
To help promote the Green Market Europe & Hempstalkers, Hempology and Leafceuticals brand opportunities, Freedom Leaf, Inc. and our Joint Venture Investor Relations partner WallStreet Research™, LLC will be presenting at The Alternative Asset ReLeaf Summit, an event primary attended Hedge Fund Managers, (Oct. 23-25) at the Wynn/Encore Hotel in Las Vegas, NV, Freedom Leaf’s hometown.
Notice on filing Annual Report (10K)
The Annual Report on Form 10-K (the “Annual Report”) of Freedom Leaf Inc. (OTCQB: FRLF) (the “Company”) is being filed pursuant to the Order under Section 15B, Section 17A and Section 36 of The Securities Exchange Act of 1934 Granting Exemptions from Specified Provisions of the Exchange Act and Certain Rules Thereunder (the “Order”), dated September 28, 2017, of the Securities and Exchange Commission (available at https://www.sec.gov/rules/other/2017/34-81760.pdf), which extends the Company’s deadline to file this Annual Report. Pursuant to the Order, for companies affected by Hurricane Irma, all reports, schedules or forms must be filed on or before October 19, 2017.
The Company’s independent certifying accountant’s office is located in Tampa, Florida, and as a result of Hurricane Irma and its aftermath, was closed for about a week because it lost power and Internet access, which closure delayed the completion of the audit of the Company’s financial statements. As a result, the Company was not able to file this Annual Report by October 13, 2017, and the Company is therefore relying on the SEC Order.
Alan Stone & Company, LLC with its affiliate WallStreetResearch™ provides a strategic approach to enhancing shareholder value and liquidity. WSR publishes and distributes corporate profiles, newsletters and in-depth research reports on emerging small-cap companies. WallStreetResearch™ is ranked #1 on Google, Yahoo and Bing search engines.
(WSR) has also issued a research report on Freedom Leaf Read the WSR Freedom Leaf Research Report
About NuAxon Tech
NuAxon Tech is the manufacturer of large capacity CO2 Supercritical Extraction unit, and has 17 years of experience in extraction process technology and manufacture of large capacity extraction units over other comparable units, which will serve as a huge plus for Freedom Leaf Inc.
According to NuAxon Tech, CO2 extraction is “the best method of extracting therapeutic compounds from a plant. When CO2 is captured and compressed it becomes a lipophilic solvent. It is exceptional and efficient at retrieving the oils and fats from plants, some herbal extractions are as concentrated as 250 to 1.” With proprietary “high flow rate pump” reducing processing time to “as low as 90 minutes per batch,” NuAxon’s CO2 Supercritical Extraction unit can deliver a much higher output than competitive brands. Freedom Leaf, Inc. has the worldwide exclusive sales and marketing agreement to represent the NuAxon Bioscience line of CO2 Extractors for the cannabis and hemp industry, which include a 100 liter up to 100 liter capacity unit, the sizes that will be needed to convert the thousands of acres of Hemp that are being planted in the U.S. and around the world.
About Freedom Leaf™
Freedom Leaf, Inc., The Marijuana Legalization Company™, is a fully reporting and audited, publicly traded company trading under the symbol (OTCQB: FRLF). Freedom Leaf, Inc. is a leading go-to resource in the cannabis, medical marijuana, and industrial hemp industry. It is involved in mergers and acquisitions and business consulting in the marijuana industry, including incubation/acceleration and spin offs of new marijuana/hemp related companies.
Freedom Leaf, Inc.’s flagship publication is Freedom Leaf Magazine, “The Good News in Marijuana Reform”. The company produces a portfolio of news, print and digital multi-media verticals, websites, blogs and web advertising, for the ever-changing emerging cannabis, medical marijuana and industrial hemp industry.
Freedom Leaf, Inc. does not handle, grow, sell, or dispense marijuana.
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.
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.