Golden Leaf Holdings Appoints New Chief Financial Officer

TORONTO, ONTARIO--(Marketwired - Oct. 27, 2016) - Golden Leaf Holdings Ltd. ("GLH" or the "Company") (CSE:GLH)(CSE:GLH.CN)(OTCQB:GLDFF), a leading cannabis oil solutions company built around recognized brands, is pleased to announce that Mr. Eugene Hill joined the Company as its new Chief Financial Officer (CFO), effective October 26, 2016.

Mr. Hill has an extensive background in corporate finance, financial planning and analysis, mergers and acquisitions, tax, strategic planning and international business. He has been involved in raising over $1 billion in equity and debt financing, and completed multiple deal and non-deal road shows with Wall Street analysts. Mr. Hill has worked as a contract CFO and Treasurer to help companies with their capital structures, budgets, accounting and other areas of finance. Such companies include Nutro Products (Bain Capital's Portfolio Company), EPICOR Software, JTS Hardware and Cricket Communications.

Don Robinson, Chief Executive Officer of Golden Leaf Holdings, commented, "I'm excited to welcome Eugene to the GLH family where I believe he will make an immediate impact further supporting the Company's position as a leader in the evolving and dynamic cannabis marketplace. We are confident that his leadership and experience with corporate finance, financial planning and analysis, tax and public companies will contribute greatly to the long-term success of the GLH business."

"I can't imagine a more exciting time to join Golden Leaf," Mr. Hill said. "I look forward to working with Don and the GLH leadership team to support the strategic business plan and the Company's long-term growth in the cannabis industry."

Mr. Hill played a large role in the early days of Cisco Systems as Assistant Treasurer, where he opened up international offices, obtained investment grade rating from Moody's and S&P, established a $2 billion commercial paper program and managed a $1 billion fixed income portfolio. From there he served as Assistant Treasurer at Tektronix, Inc. where he focused among other responsibilities, on managing SEC filings and Wall Street industry and analyst communications. He received his bachelors of science in finance from Brigham Young University and a master's degree in business from the University of San Francisco.

About Golden Leaf Holdings

Golden Leaf Holdings Ltd. is one of the largest cannabis oil and solution providers in North America. It's a leading cannabis products company in Oregon built around recognized brands. GLH leverages a strong management team with cannabis and food industry experience to complement its expertise in extracting, refining and selling cannabis oil.

Forward Looking Statement

Disclaimer: This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the Company's future business operation, expectations of gross sales, the opinions or beliefs of management, and future business goals. Generally, forward looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to general business, economic and competitive uncertainties, regulatory risks including risks related to the expected timing of the Company's participation in the Adult Use market, market risks, risks inherent in manufacturing operations and other risks of the cannabis industry. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking information is provided herein for the purpose of presenting information about management's current expectations relating to the future and readers are cautioned that such information may not be appropriate for other purpose. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.