Freedom Leaf Announces Completion of $ 5 Million Growth Capital Round

Funding supports the company’s evolution into a leading player in CBD hemp in North America

DALLAS, November 18, 2019 (GLOBE NEWSWIRE) – Freedom Leaf, Inc. (“Freedom Leaf” or the “Company”) (OTCQB: FRLF), a first-class hemp consumer products company that recently acquired Green lotus™ to strengthen its position as a leading supplier of cannabinoid-rich natural hemp products, today announced the closing of a $ 5 million convertible note financing led by a subsidiary of Merida Capital. David Goldburg, Chairman of the Board, and Dave Vautrin, Independent Director, invested $ 125,000 and $ 67,000, respectively, in the financing of the convertible notes. Proceeds from the financing will primarily support the company’s production, marketing and sales efforts as it continues to strengthen its position as a leading CBD and hemp company serving the North American and Mexican markets.

The financing is in the form of a unit composed of a three-year senior unsecured note bearing interest at 8%, convertible at the option of the holder into common shares of the Company at $ 0.20 per share, and a three-year warrant to acquire shares of the Company’s common stock. A portion of the financing proceeds represents the cancellation of existing promissory notes held by affiliates of Merida Capital. For more details, please refer to Form 8-K to be filed with the United States Securities and Exchange Commission.

Carlos Frias, CEO and Board Member of Freedom Leaf, said: “This funding will give the company the capital it needs to meet a strong pipeline of new orders from our distribution partner in Mexico, CBD Life SA; Greenlane Holdings, one of the leading distributors of cannabis and CBD products in the United States; and several other major regional and national retailers increasingly looking to meet consumer demand with the highest quality CBD and hemp products today.

David Goldburg, Chairman of the Board of Directors of Freedom Leaf, added, “The acquisition of Green Lotus has positioned the company to become a leading player in CBD and hemp in consumer packaged products in North America. The conversion price of the convertible note, which represents a substantial premium over the current market price, reflects the high level of confidence Merida has in the Company’s ability to execute its business plan. “

Freedom Leaf acquired Green Lotus ™ on May 31, 2019, immediately enabling the launch of a more robust product line focused on leading CBD and hemp products, enhanced distribution capabilities and penetration into emerging markets at strong growth worldwide.

About Freedom Leaf, Inc.
Freedom Leaf Health is a first-class hemp consumer products company with a family of trusted brands that provide premium quality hemp products for increased wellness, balance and longevity. Green Lotus ™ and IrieCBD are the company’s leading brands, offering premium hemp products such as topicals, tinctures, vapables, capsules and sparkling drinks. Freedom Leaf Health is a fully audited, publicly traded, reported company under the symbol (FRLF).

About Green Lotus ™
Green Lotus ™ is a premium hemp brand that provides consumers and businesses with responsibly produced natural products rich in cannabinoids. The brand is led by veterans and powered by a diverse team dedicated to promoting a world where the restorative power of hemp is accessible to everyone. For more information, please visit

Safe Harbor Declaration
This press 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, which are intended to be covered. by the “safety port” created by these sections. 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 can generally be identified by phrases such as “believes”, “expects”, “anticipates”, “anticipates”, “forecasts” , “Estimates” or other words or phrases of similar significance. Similarly, the statements below which describe Freedom Leaf’s business strategy, prospects, objectives, plans, intentions or goals are also forward-looking statements s. All of these forward-looking statements are subject to certain risks and uncertainties which could cause actual results to differ materially from those of forward-looking statements. Factors that could cause or contribute to the differences include uncertainty regarding the viability and market acceptance of Freedom Leaf’s products and services, changes in relationships with third parties, and other factors described in recent filings. Freedom Leaf periodicals with the Securities and Exchange Commission.

These risks and uncertainties include, without limitation, changes in general industry or regional market conditions; changes in consumer and customer preferences for our products; loss of business due to increased competition; changes in strategic relationships; adverse currency or interest rate fluctuations in the regions in which we operate; changes in regulatory conditions; changes in tax laws; import and export duties and rates of duty in or with the countries with which we do business; and the negative impact of any government investigation and related litigation.

The occurrence of any of these risks and uncertainties could have a material adverse effect on the business, financial condition and results of operations of the Company. The Company is not obligated to revise or update any forward-looking statements to reflect events or circumstances that may arise after the date of this press release.

Media contacts:
Anthony Feldman / Nick Opich
KCSA strategic communication
(347) 487-6194 / (212) 896-1206
[email protected] / [email protected]

Investor contacts
Phil Carlson / Erika Kay
KCSA strategic communication
Telephone: (212) 896-1233
E-mail: [email protected] / [email protected]

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