TORONTO, June 26, 2019 (GLOBE NEWSWIRE) -- Golden Leaf Holdings Ltd. (CSE: GLH) (OTCQB: GLDFF) (“Golden Leaf” of the “Company”), a cannabis company with cultivation, production and retail operations built around recognized brands, announced today that Rick Miller, Bob McKnight, Alex Winch, John Varghese, Gary Zipfel and Larry Martin were elected as Directors at the annual meeting of shareholders held at 10:00 a.m. EDT yesterday, June 25, 2019. At the meeting of the Board of Directors held following the meeting of shareholders, Rick Miller was elected as Chairman of the Board.

At a meeting of the holders of debentures maturing on November 2, 2019 (the “Debentures”), held yesterday, June 25, 2019 at 11 a.m. EDT, the Debentureholders approved an amendment to the Debenture Indenture permitting the Company to sell, transfer or otherwise dispose of corporate assets having an aggregate value of C$2,000,000 in any 12-month period, if the assets are in the reasonable opinion of the Company not profitable, unproductive, or strategically unnecessary. The Company requested the amendment to better facilitate the disposition of unprofitable, unproductive or strategically unnecessary assets.

The Company will be posting an updated corporate slide-deck presentation on SEDAR later today, providing management’s views on current strategy and outlook.

To be added to the distribution list, please email GLH@kcsa.com with “GLH” in the subject line.

About Golden Leaf Holdings

Golden Leaf Holdings Ltd. is a Canadian company with operations in multiple jurisdictions including Oregon, Nevada, and Canada, with cultivation, production and retail operations built around recognized brands. Golden Leaf distributes its products through its branded Chalice Farms retail dispensaries, as well as through third-party dispensaries. Golden Leaf’s cannabis retail operations and products are designed with the customer in mind, focused on superlative in-store experience and quality products. Visit www.goldenleafholdings.com to learn more.

Investor Relations:

Steve Hosein

Renmark Financial Communications

416-644-2020

shosein@renmarkfinancial.com

Kate Koustareva

Director of Financial Reporting and Treasury

Golden Leaf Holdings Ltd.

971-371-2685

ir@goldenxtrx.com

Media Relations:

Anne Donohoe / Nick Opich

KCSA Strategic Communications

adonohoe@kcsa.com/ nopich@kcsa.com

212-896-1265 / 212-896-1206