DALLAS – Freedom Leaf Inc. (OTCQB: FRLF), a Nevada corporation d/b/a Freedom Leaf Health, announced today its renaming and rebranding to GL Brands, Inc. (“GL Brands” or the “Company”). The announcement follows Freedom Leaf Inc.’s recent acquisition of ECS Labs LLC, including its two wholly-owned operating subsidiaries, Green Lotus and IrieCBD, which collectively constitute the “GL Brands” portfolio of premium hemp products.
GL Brands is evolving into a leading hemp consumer packaged goods company and global house of brands serving the rapidly expanding CBD consumer marketplace. Since the acquisition of Green Lotus in May 2019, the Company has been investing in its core premium hemp product portfolio through its two wholly owned operating subsidiaries, Green Lotus and IrieCBD, which have already generated strong growth for the Company. The Company has also divested non-core Freedom Leaf assets, such as Tierra Life Sciences, Cicero, Las Vegas Extraction, and the Spain Greenhouse, and is in the process of divesting from Accuvape, Freedom Leaf Magazine and La Marihuana in order to optimize its portfolio and future performance.
“CBD is rapidly becoming one of the main components of the modern health and wellness movement. Consumers are increasingly looking to access these non-psychoactive products and are relying on our Company and trusted brands to provide the education and consistency and quality they require,” said GL Brands CEO Carlos Frias. “As we continue to grow our business, it is essential that we develop a more defined and sophisticated brand that embodies our mission to deliver first-in-class consumer products, branding and packaging to the global CBD marketplace. Our evolution to GL Brands will reflect that mission as we continue to build out a robust portfolio of global hemp and CBD products, led by our premium Green Lotus and IrieCBD lines, that customers, retailers and distributors can turn to when looking for high-quality cannabis products.”
Green Lotus has recently signed several major distribution agreements since its acquisition. In October 2019, Green Lotus announced a distribution agreement with Greenlane Holdings, Inc., a sizeable North American distribution network of iconic cannabis accessory and CBD brands reaching 11,000 retail locations across the United States, including licensed cannabis dispensaries and smoke and vape shops. The distribution agreement should add between three to four thousand potential new points of sale for GL Brands.
In addition, GL Brands has established a robust distribution pipeline across the United States and Mexico. Within the United States, GL Brands products are now available in over 1,500 stores, including regional supermarket chains Wakefern, Giant Eagle and Wegmans. According to research and analysis from Cowen, by 2025, CBD offerings in all categories of products could conservatively generate $16 billion in retail sales.
Finally, GL Brands has a first-mover advantage globally as the first U.S. company to be approved for the distribution and export of commercial CBD to Mexico. The Company currently holds 21 product permits for CBD-specific products allowed to be imported into Mexico. Currently, no other permits are expected to be issued over the next 18-24 months, making GL Brands the sole distributor and exporter of hemp and CBD products to the Mexican market. Last month, the Company announced that its Green Lotus line had completed its second successful commercial shipment of CBD and hemp products to Mexico. The shipment is part of an exclusive partnership between Green Lotus and CBD Life SA to supply 4,000 major pharmacy retailers throughout Mexico.
Aside from these recent partnership agreements, GL Brands has secured several other strategic partnerships in its pipeline to further expand the reach of its premium hemp products across North America.
Mr. Frias also commented, “As we forge ahead, we believe our value proposition, rigorous quality and testing programs, as well as our multinational distribution agreements, will differentiate GL Brands in the crowded marketplace. This should allow us to capitalize on this rapidly expanding market while providing tremendous value to our customers, shareholders and partners. We will continue to focus our efforts on organic growth and strategic partnerships that we believe will yield shareholder value and position GL Brands for exponential growth.”
About GL Brands Inc.
GL Brands is a global hemp consumer packaged goods company that creates authentic, enduring and culturally relevant brands engaged in the development and sale of cannabis-derived wellness products. Through its premier brands Green Lotus™️ and IrieCBD, GL Brands delivers a full portfolio of hemp-derived CBD products, including tinctures, soft gels, gummies, sparkling beverages, vapes, flower and topical segments to promote greater wellness and balance, in the U.S. and throughout the world.