Seven years ago Golden Leaf Holdings ceased to exist. Fast forward to 2018, and the company's subsidiary has secured the Golden Leaf Holdings first cannabis harvest. On top of that, the subsidiary (Medical Marijuana Group) has applied to Health Canada for its final sales license. This was all announced on Thursday, July 19th, in the Golden Leaf Holdings subsidiary update.
Golden Leaf Holdings Subsidiary Update: The Latest
Today, Golden Leaf Holdings provided a progress update on its subsidiary, which, as mentioned, is Medical Marijuana Group (MMG).
Two updates, in particular, stood out: first, the news of the cannabis harvest, and second, a sales strategy update.
Golden Leaf Holdings First Cannabis Harvest
In the Golden Leaf Holdings subsidiary update, the company said it had harvested its first crops. According to the update, these crops had yields that were 30% greater than the original forecast.
The first cannabis harvest comes after MMG was given a cultivation license from Health Canada for its Ontario-based facility in 2017, and then started cultivation activities at the start of this year.
Speaking on the matter, Phillip Millar, president of MMG, said the subsidiary has made considerable progress "over the last six months, realized by the recent crops harvested."
Update on Sales Strategy
Golden Leaf Holdings noted on Thursday that MMG has asked Health Canada for the final sales license inspection. Licenses have been known to take weeks to receive approval, even months. And for MMG, the request is still pending.
Still, it's good news, despite having to wait a while to receive the final sales license. The market doesn't appear too bothered, either. In fact, the stock is soaring today.
Golden Leaf Holdings Stock
On the Canadian Securities Exchange, at 2:36 p.m. EDT, Golden Leaf Holdings (CSE:GLH) was trading at $0.19, Yahoo Finance reported, which puts the stock up 8.57%.
Meanwhile, Yahoo Finance reported that at the same time on the OTC markets, Golden Leaf Holdings (OTCQB:GLDFF) was trading at $0.1454, putting the stock up 4.91%.
The Takeaway
What did you think of the Golden Leaf Holdings subsidiary update? Was it everything you wanted? More? Less? Let us know in the comments below!
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