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Freedom Leaf Acquires Green Lotus Companies for USD 14m in stock.

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Vincent

MANews-(C)2009-2019

29 May 2019 - Nevada, US-based Freedom Leaf Inc. (OTCQB: FRLF), d/b/a Freedom Leaf Health, has agreed to acquire ECS Labs LLC, including its two wholly owned operating subsidiaries, constituting the Colorado, US-based Green Lotus premium hemp oil products brand, the company said.

The purchase price for the transaction is USD 14m of Freedom Leaf common stock to be issued at the closing of the acquisition valued based on the volume-weighted average trading price per share for the thirty trading days prior to the date of the closing of the acquisition.

The acquisition is expected to generate a substantial increase in revenue for Freedom Leaf while providing Freedom Leaf access to a more robust portfolio of products, enhanced distribution capabilities and penetration in attractive emerging CBD markets worldwide.

The combination offers Freedom Leaf an established portfolio of hemp CBD products and greater access to multiple sales channels including traditional retail, independent pharmacies, ecommerce, and direct-to-consumer. The acquisition is expected to significantly increase and broaden Freedom Leaf's current customer base.

Freedom Leaf Health is a clean healthcare company with a family of trusted brands that provide premium hemp-derived CBD 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...

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