TORONTO, Dec. 27, 2018 (GLOBE NEWSWIRE) -- Golden Leaf Holdings Ltd. (CSE: GLH) (OTCQB: GLDFF)
(“Golden Leaf” of the “Company”), a cannabis company with cultivation, production and retail operations built around recognized
brands announced today that it has hired William Kulczycki as its new CEO and President. Former CEO and President William
Simpson will remain with Golden Leaf on a full-time basis to assist Mr. Kulczycki and the Board with strategic and day-to-day
activities of Golden Leaf in his capacities as “Founder” and a Board observer.
Mr. Kulczycki brings over 40 years of experience to Golden Leaf as an executive with public and private
companies involved in the outdoor industry, where he has successfully built strong management teams, improved profitability, and
provided support and advice on acquisitions as well as distribution strategies. Mr. Kulczycki’s experience includes 28 years
as Vice President of Patagonia Inc./Lost Arrow Corp.; four years as CEO/President of C.C. Filson of Seattle; four years as Brand
President of Gregory Mountain Products, and V.P. of Black Diamond Inc., a publicly traded outdoor company; and two years as
Executive Director of Mountain Khakis of Jackson, WY. While at Patagonia, Mr. Kulczycki was responsible for Global Sales and
Marketing, as well as Product Development.
Mr. Simpson commented, “We are fortunate and privileged to have a man of William Kulczycki’s track record,
experience and talent join Golden Leaf. As Golden Leaf has matured, its operations have become increasingly complex as its
business evolves and the Company expands its geographic footprint. Now, more than ever, the Company needs a leader with a
proven, successful background in international retail and distribution business operations. I look forward to working with
Bill to achieve the goal of attaining Golden Leaf’s full potential.”
Mr. Kulczycki stated, “I am looking forward to both the challenges and opportunities that Golden Leaf
presents. I intend to build on the Company’s positive attributes and address its deficiencies. I believe that my
background and experience is well suited for leading a strong management team, improving the Company’s business operations, and
implementing a profitable, sustainable business model.”
To be added to the distribution list please email ir@goldenxtrx.com with “GLH” in the subject line.
About Golden Leaf Holdings
Golden Leaf Holdings Ltd. is a Canadian company with operations in multiple jurisdictions including Oregon, Nevada, and Canada,
with cultivation, production and retail operations built around recognized brands. Golden Leaf distributes its products through its
branded Chalice Farms retail dispensaries, as well as through third-party dispensaries. Golden Leaf’s cannabis retail operations
and products are designed with the customer in mind, focused on superlative in-store experience and quality products. Visit
goldenleafholdings.com to learn more.
Investor Relations:
Craig Eastwood, Chief Financial Officer
Golden Leaf Holdings Ltd.
503-201-0659
ir@goldenxtrx.com
Media Relations:
Anne Donohoe / Nick Opich
KCSA Strategic Communications
adonohoe@kcsa.com/nopich@kcsa.com
212-896-1265 / 212-896-1206
Disclaimer: This press release contains "forward-looking information" within the meaning of applicable
securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the Company’s
future business operations, the establishment of, and the future scope and scale of, the Chalice Farms retail system, the level of
funding needed to establish the Chalice Farms franchise model, that the Chalice Farms franchise model will be successful and
generate positive cash flows, the opinions or beliefs of management and future business goals. Generally, forward looking
information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is
expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or
variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be
taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other
factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different
from those expressed or implied by such forward-looking information, including but not limited to general business, economic and
competitive uncertainties, regulatory risks including risks related to the expected timing of the Company’s participation in the
adult use market, market risks, risks inherent in manufacturing operations, difficulties of establishing a successful franchise
model and other risks of the cannabis industry. Although the Company has attempted to identify important factors that could cause
actual results to differ materially from those contained in forward-looking information, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate,
as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should
not place undue reliance on forward looking information. Forward-looking information is provided herein for the purpose of
presenting information about management’s current expectations relating to the future and readers are cautioned that such
information may not be appropriate for other purpose. The Company does not undertake to update any forward-looking information,
except in accordance with applicable securities laws. This press release does not constitute an offer of securities for sale in the
United States, and such securities may not be offered or sold in the United States absent registration or an exemption from
registration or an exemption from registration.