CORRECTION - Golden Leaf Holdings Ltd. to Present at Viridian Cannabis Investment Series and Update on Washington State Revenue

TORONTO, ON --(Marketwired - May 19, 2016) - In the news release, "Golden Leaf Holdings Ltd. to Present at Viridian Cannabis Investment Series and Update on Washington State Revenue," issued earlier today by Golden Leaf Holdings Inc. GLH, we are advised by the company that the date of the event in the first paragraph should read "June 8th, 2016" rather than "June 8th, 2017" as originally issued. Complete corrected text follows.

Golden Leaf Holdings Ltd. to Present at Viridian Cannabis Investment Series and Update on Washington State Revenue

TORONTO, ON -- May 19, 2016 -- Golden Leaf Holdings Ltd. ("GLH" or the "Company") GLH, is pleased to be presenting at the Viridian Cannabis Investment Series on June 8th, 2016.

The event, organized by Viridian Capital Advisors, will be held in Fort Lauderdale, Florida and is composed of some of the top industry leaders representing everything from analytics and security to extraction and cultivation. Don Robinson, CEO, will be a keynote speaker at the event, discussing infused products and extracts.

This event follows the last two Viridian Cannabis Investment Conferences, which welcomed over 500 family office, venture capital, private equity, and high-net-worth investors to the first-ever cannabis investment conferences held in New York. This event, will be the first of its kind in the State of Florida and we look forward to being a part of it.

Update on Washington State Revenue

GLH's strategic partner in Washington BMF has begun to see positive momentum and increased revenue growth month over month. BMF generated US$357,108 in unaudited revenue for the month of April 2016 as compared to $US283,285 in March 2016, representing a month over month increase of 26%. The Company has hired new sales team members and continues to leverage new oil extraction equipment to capture additional market share and revenue. The Company welcomes BMF's positive revenue and sales momentum, which the Company anticipates will in turn lead to greater revenues for the Company from this strategic relationship.

CEO, Don Robinson stated, "The increased revenue growth we are seeing in connection with BMF our strategic partner in Washington is encouraging. We are seeing the positive results of continuing to work closely with BMF to share best practices in extraction, refining, sales and marketing."

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.


FOR FURTHER INFORMATION PLEASE CONTACT:

For further information, please contact:
Golden Leaf Holdings Ltd. Investor Relations:
John Aird
T: 416.725.6458
E: jaird@goldenleafholdings.com