- New Leaf Ventures (NLV) market share growth driven by expanded production
- Overall advancements in the pre-roll category now include a new line of infused rolled cannabis products
- New Leaf notes that this past year saw unprecedented growth which is being at least partially attributed to the distribution of stimulus payments
- New Leaf is developing strategies to leverage its increasingly prominent regional role with an eye towards national participation
- New Leaf Ventures Inc. (NLV) is up 3.03 per cent and is trading at C$0.51 at 12:19 pm ET
New Leaf Ventures Inc. (NLV) equipment upgrades have grown the market share of its licensed brands through New Leaf Enterprises.
The recent announcement regarding the license holder’s ability to acquire a retail value of $3M USD of additional biomass as well as increased production capability positions New Leaf to immediately increase B2B sales and fully prepare for increased annual demand ahead of the industry-wide 420-holiday event.
Commissioning of New Leaf’s all-new trimming, tamping, and sorting equipment has led to pre-roll historic production output and increased revenues.
Overall advancements in the pre-roll category now include a new line of infused rolled cannabis products offering customers diversity of choice including a range of product potency.
License Holder revenues have been most noticeably improved by a first-quarter (Q1) increase of 35 per cent.
Retail accounts have grown by 40 per cent since the beginning of Q1 and include expansion across most of Washington state, with significant penetration into the eastern portions of the region.
In related news, New Leaf notes that this past year saw unprecedented growth which is being at least partially attributed to the distribution of stimulus payments, and to date 2021 is maintaining a similar growth trajectory.
The positive overall industry economics are generating new and exciting avenues of opportunity for New Leaf in terms of partner agreements, potential joint ventures, and enhanced product offerings.
New Leaf is developing strategies to leverage its increasingly prominent regional role with an eye towards national participation.
CNW (Cannabis News Wire) noted several industry updates recently including the passage of cannabis legalization for New York state with significant advancements in Connecticut, New Mexico, Pennsylvania, and Maryland.
They further predicted that the industry would see increased investor interest in 2021 thanks to the 65 per cent increase in sales the U.S. cannabis industry reported in 2020.
These and similar sector indicators signal a renewed interest in national commercialization subject only to an increasingly overdue shift in Federal policies.
Robert ‘Dax’ Colwell, CEO, Co-Founder, New Leaf USA & Director, New Leaf Ventures Inc. comments, "This annual 420 event brings the newly leased equipment will really help deliver even more products to the brands growing customer base."
In fact, in honour of the new kitchen we will also be releasing “Spaceballs,” our newest and most exciting edible product line and I can’t wait to share more about that in the coming weeks,” added Colwell.
New Leaf Ventures Inc. is developing a cannabis sector-based scalable securities concept of focused financing and applied management to achieve earnings growth through targeted investment.
New Leaf Ventures Inc. (NLV) is up 3.03 per cent and is trading at C$0.51 at 12:19 pm ET.