Green Leaf Farms entered the Northern Nevada market, announces first quarter
revenues in excess of $170,000 and plan to generate substantial revenues starting third quarter 2018.
LAS VEGAS (March 8th, 2018) Players Network, Inc. (OTCQB:PNTV), a diversified holding company operating in marijuana and media, announced today that Green Leaf Farms Holdings, LLC (Green Leaf) has entered into a new market in Northern Nevada as well as revenue updates.
Green Leaf is now officially selling throughout the State of Nevada. Green Leaf has now placed its products in approx. one-third of the dispensaries in Southern Nevada and has added a few Northern Nevada dispensaries.
Thus far in this quarter (Q1 2018), Green Leaf has generated approx. $175,700 in revenues to date. That is roughly a 60,000% increase over its first reported sales in Q2 2017.
The launch of Phase II is now fully underway. It took considerably longer to start growing in the 8,000 sq ft expansion due to unforeseen complications arising from the confluence of architects, contractors and the permitting office. Because of the delays, our first major harvest will take place in June this year. The good news is initially Green Leaf should realize in excess of 75 pounds in its first harvest which at the current wholesale price per pound in Nevada of $2,268 equates to approx. $170,100 in flower (bud) sales in the first month. The harvest should steadily increase in size to a capacity of approx. 180 pounds per month which should generate approx. $408,240 in flower (bud) sales in just Phase II. These revenues exclude additional revenues generated from non-flower production sales of rosin, oils and hash.
Geoffrey Lawrence, CFO and Chief Compliance Officer states, “It’s extremely satisfying to see Green Leaf Farms expand across the state and enter new markets.” Lawrence continues, “As a former resident of Northern Nevada while working as the Assistant State Controller, The Sierra Well in Carson City was actually the first dispensary I’d ever visited. Now it has our brand on its shelves. This entry into the Northern Nevada market, which hosts an older and wealthier population than Southern Nevada, will only further add to the tremendous growth we’ve experienced over the past year. Revenues have grown exponentially since our first sale, and we expect that trend to continue throughout 2018 and beyond as well.”
Green Leaf Farms’ Director of Sales, Andrew Hallenbeck notes, “We are excited to be premiering in Carson City and Reno at Sierra Well with our line of high quality rosin. Our rosin is 100% solventless, no additives and hand pressed in North Las Vegas doing a single run from premium flower only. Further, since Northern Nevada relies heavily on suppliers from Southern Nevada, I believe this entry into Northern Nevada is strategic and could result in rapid growth of sales by Green Leaf to that part of the state.”
To learn more about Green Leaf’s projects, please visit http://greenleaf-projects.com.
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About Players Network (PNTV)
Players Network is a diversified company operating in media and cannabis markets. PNTV owns approximately 89% of Green Leaf Farms Holdings, LLC (Green Leaf Farms), which holds cultivation and production license(s) awarded by the state of Nevada. The cultivation license enables Green Leaf Farms to grow marijuana and the production license enables them to create extracts which are used for cartridges, oils and edibles. WeedTV.com is developing the ultimate resource for the marijuana lifestyle within our media operations.
About Green Leaf Farms
Green Leaf Farms produces medical and recreational cannabis products. Green Leaf currently operates in North Las Vegas, Nevada, on 2.3 acres in a state-of-the-art 27,000 sq. ft. facility and is entering the California market with the Grass Roots Industrial Park (GRIP) project. They have a seasoned team of professional growers and operators with proven best practices to ensure they have the highest quality products available. Please visit http://greenleaf-projects.com.
This release contains 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. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the company’s SEC filings. These risks and uncertainties could cause the company’s actual results to differ materially from those indicated in the forward-looking statements.
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