Golden Leaf Announces First Quarter 2021 Financial Results Release Date and Provides Corporate Update

Golden Leaf Announces First Quarter 2021 Financial Results Release Date and Provides Corporate Update

A replay of the audio webcast will be available online on the Company’s website at www.goldenleafholdings.com where it will be archived for one year. A replay of the conference call will also be available at 7:30 PM EDT on May 25, 2021 and will be accessible until June 8th, 2021. For access to replay: Replay Canada/US:1-844-512-2921International:1-412-317-6671Conference PIN: 13719831

Program Title: Golden Leaf Holdings – First Quarter 2021 Earnings CallCanada & US: 1-877-407-0784International: 1-201-689-8560 REGISTRATION: Please visit click here to register and stream the conference call, or use the following dial-in information as follows:

Once dialed in, participants must request the “Golden Leaf Holdings – First Quarter 2021 Earnings Call”. Golden Leaf management, led by Mr. John Varghese, Executive Chairman, and Mr. Jeff Yapp, Chief Executive Officer, will hold a conference call on Tuesday, May 25th at 5.00 PM EDT to report its financial results for first quarter 2021.

Story continues The Company also wishes to share preliminary unaudited first quarter 2021 results of US$5.5 million revenues and gross profit of US$2.5 million or 45% gross margin and adjusted EBITDA1 was positive for the quarter. The Company also announces that it has signed a settlement agreement (the “Settlement Agreement”) with Peter Saladino and settled the lawsuit the Company filed against him on June 19, 2020. The case has now been dismissed with prejudice. The Company filed a lawsuit captioned GL Management, Inc. et al. v. BMF Washington LLC and Peter Saladino, in the United States District Court Western District of Washington at Tacoma (“Court”), Court Case No. 3:20-cv-05434-MAT, which was later amended to GL Management, Inc. and Golden Leaf Holdings Ltd. v. Peter Saladino (“Lawsuit”). The claims asserted in the Lawsuit originated from a transaction that closed on or about January 20, 2016, among Golden Leaf Holdings, Ltd.; GL Management, Inc.; Saladino; Liberty Reach LLC; and BMF Washington LLC (the “Transaction”). Pursuant to the terms of the Settlement Agreement, Saladino waived his right to pursue counterclaims against the Company stemming from the Transaction. The Company and Saladino have also released all claims against each other and mutually agreed that neither party would be pay any monetary consideration to the other.

The Company is pleased to announce that it had a record 412,089,878 shares voted at this year’s Annual General Meeting and that we received over whelming support, in excess of 95% on all of the motions contained within its management information circular. Included in the approved motions approved was changing the name to “Chalice Brands Ltd.” and to affect a 23 for 1 share consolidation. The Company anticipates setting the date for the share consolidation and name change shortly. Corporate Updates

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