Golden Leaf Holdings Ltd. Announces Major Brand Relaunch for GoldenXTRX Product Line and Recent Awards

TORONTO, ON--(Marketwired - May 05, 2016) - Golden Leaf Holdings Ltd. ("GLH" or the "Company") (CSE: GLH), is pleased to announce the unveiling of a new name and look for its award-winning GoldenXTRX brand of premium CO2 extracted cannabis oil products. Starting in late May, the Company is expecting to introduce a revised brand name, new branding, new packaging and new products across its entire dispensary network.

GoldenXTRX will be renamed Golden as part of a rebranding objective to better align the brand's name with its future strategy and product roadmap. The high quality and innovative cannabis oil products that GoldenXTRX has built its reputation and brand platform on remains unchanged.

"We are excited to unveil our retail brand update, including the new Golden brand name that reinforces our position as the market leader in premium cannabis oil products. As we continue to grow, we're modernizing the outward expression of the GoldenXTRX brand so that it connects more with consumers seeking aspirational and lifestyle oriented cannabis experiences," announced Bliss Dake, GLH's Chief Marketing Officer.

New Packaging and New Products

In late May, new Golden packaging will launch in dispensaries across Oregon. The new packaging features a visually arresting design with its vibrant yellow color, alluring oil splash and innovative "peek-a-boo" packaging design offering a glimpse of the product within. The new boxes will still contain the same high quality CO2 extract that GoldenXTRX is known for.

In addition to the new packaging, the Company is introducing new CO2 extract product extensions that include a quarter gram vape cartridge and Starter Set to drive trial that comes complete with a one-half gram vape cartridge, battery and USB charger. GLH will also roll out new cannabis flower products under the Golden brand including premium, handcrafted pre-roll joints and bubble hash.

Don Robinson, GLH's Chief Executive Officer stated, "With the upcoming launch on June 2, 2016 of early "Adult Use" sales of cannabis oil and edible products through medical cannabis dispensaries, we are well poised with our brand makeover and new product launches to capture the attention of new retail consumers. It's expected that we have a large opportunity to increase revenue and growth."

New Tagline and Branding

To create the most differentiated brand positioning for consumers with a focus on emotional benefits, GLH is introducing a new "Bliss Vape Pen" brand platform and tagline "No Higher Bliss." The objective is to bring more energy to the brand with a new brand identity and positioning. To drive brand awareness and demand, GLH will leverage public relations, in-store demo programs and other marketing activities.

BMF Washington Wins Dope Award

GLH's strategic partner BMF Washington recently won the DOPE Cup 2016 Washington Award for "Best Sativa Flower -- Recreational Market" with its Liberty Reach Strawberry Mango Haze. The DOPE Cup is an annual competition and industry event organized by Seattle-based DOPE Magazine that stands for "Defending Our Plant Everywhere."

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.

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 early roll out of oils and edibles, 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.