Golden Leaf Holdings Ltd. (“GLH” or the “Company”) (CSE: GLH) is pleased to announce that the Oregon Health Authority (OHA), Oregon Department of Revenue and the Oregon Liquor Control Commission (OLCC) have announced that commencing June 2, 2016, medical dispensaries that are already participating in the early start program will also be allowed to sell single serving low dose edibles, single receptacles of extract, and topicals to retail consumers.
Currently only flowers are authorized for retail sales to recreational customers in 339 medical dispensaries via the OHA early start program. This change allows for the addition of extracts and edibles to the earlier “Adult Use” sales of cannabis products through the Oregon Medical Marijuana Dispensary Program (OMMDP). The OHA will publish a revised set of temporary administrative rules later this week that will outline the regulatory compliance details.
Once these rules are enacted, Golden Leaf Holdings will be able to sell GoldenXTRX brand CO2 cannabis oil products, Proper brand BHO cannabis oil products and other cannabis based extracts and edibles to adult users.
The long awaited announcement is a welcomed development by the Oregon Cannabis Industry and represents a significant expansion of the retail cannabis market. As when early flowers sales commenced, GLH expects to see another sizable increase in overall cannabis sales. At the time of this announcement, the OLCC also stated that they are on track to roll out the formal recreational, “Adult Use” program in October. This will replace the early start program.
Don Robinson, CEO, stated, “This is absolutely fantastic news for GLH. It will allow us to service a significant portion of the retail market, that, to date, has been left out of the early sales program. We have the opportunity to increase revenue and resume our growth. The environment is finally starting to settle now that we have greater regulatory clarity.”