FRLF’s Locally Based Distribution Partner Placed a $100,000 Purchase Order with the Company to Service a National Pharmaceutical Chain
LAS VEGAS, NV, May 07, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – Freedom Leaf, Inc. (OTCQB: FRLF), now doing business under Freedom Leaf Health, and parent company of leading hemp health and wellness brands Leafceuticals, IrieCBD, and Hempology announced a significant new order in the emerging South Africa CBD market.
Freedom Leaf’s locally based distribution partner placed a new $100,000 purchase order with the Company to service a national pharmaceutical chain with three hundred outlets. Once delivered, this order is expected to fulfill projected revenue for one quarter. Freedom Leaf is an early mover in South Africa, which has a population of 55mm and is the fifth most populous country on the continent. Over the past year, IrieCBD South Africa has received all the requisite approvals to import and distribute our products nationwide.
IrieCBD products are currently sold in 10 health and wellness and veterinarian locations in Durbin, Johannesburg, and Cape Town and online. Our distribution partner is experiencing triple-digit month-over-month revenue growth and expects to add 3-4 specialty outlets per month.
In the fourth quarter of 2018, the South African Constitutional Court decriminalized the possession and cultivation of cannabis in a “private space” and the country’s legal framework allows for the cultivation, importation and use of medical cannabis under strict regulations. Prohibition Partners estimates that South Africa will be the largest cannabis market on the continent by 2023.
“South Africa represents a significant international growth opportunity for Freedom Leaf, and our partner will continue to aggressively expand our distribution network in this untapped market,” stated Freedom Leaf Health's CEO Cliff Perry.
About Freedom Leaf Health:
Freedom Leaf Health is a clean healthcare company with a family of trusted brands that provide premium hemp-derived CBD health products for greater health, wellness and longevity. IrieCBD is the company’s flagship brand of consumer health products - offering full-spectrum hemp-derived CBD products in liquid, capsule and cream forms to support healthy levels of inflammation, immune system balance, mood and stress management, restful sleep, menstrual discomfort relief, energy boost and to act as a wellness supplement. The company’s NatureBorn brand brings clean health to pets. Freedom Leaf health is a fully reporting and audited publicly traded company trading under the symbol (OTCQB: FRLF).
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.
PR and Business Development Director