PEMBROKE PINES, FL / ACCESSWIRE / August 29, 2024 / Green Leaf Innovations, Inc. (OTCPK:GRLF), a Florida-based emerging growth company specializing in the marketing and distribution of handmade premium cigars, is pleased to announce a series of strategic initiatives that underscore its commitment to financial stability, market expansion, and shareholder value creation.
Strengthening Financial Health through Debt Reduction
On August 27, 2024, Green Leaf Innovations announced significant progress in reducing corporate debt, a critical step in optimizing the company's financial structure. The company successfully reduced the majority of one of its outstanding notes and is on track to eliminate an additional $88,000 in outstanding notes in the coming weeks. These efforts are part of a broader strategy to clean up the balance sheet, reduce the burden of debt, and pave the way for sustainable growth. This focus on financial health reflects the company's dedication to enhancing shareholder value and positioning itself for future success.
Strategic Acquisition of SOFLO Wholesaler Group, Inc.
On August 22, 2024, Green Leaf Innovations signed a letter of intent to acquire SOFLO Wholesaler Group, Inc., a leading wholesale cigar distributor. Over the past four years, SOFLO has established itself as a key player in the cigar industry, distributing the #1 rated cigars among the Top 30 in the industry. Under the leadership of President Miguel Pinto, an industry veteran with over 20 years of experience, SOFLO has expanded its market share, serving over 400 customers across various sectors, including cigar lounges, smoke shops, cigar distributors, C-stores, and duty-free shops.
In 2023, SOFLO reported revenues of $2.3 million, with strong growth anticipated in 2024. The company's robust financial position, with current assets exceeding $500,000, aligns perfectly with Green Leaf Innovations' vision for growth and market leadership.
Optimizing Capital Structure
On July 23, 2024, Green Leaf Innovations took decisive steps to optimize its capital structure by reducing both authorized shares and issued and outstanding shares. This included a significant reduction of 5 billion shares. This action reflects the company's ongoing commitment to creating value for shareholders and positioning itself for sustainable success in the competitive premium cigar market.
Commitment to Financial Transparency and Regulatory Compliance
On May 27, 2024, Green Leaf Innovations engaged the renowned audit firm Olayinka Oyebola & Co to conduct a comprehensive two-year audit of the company's financial statements. This audit is a pivotal step toward becoming fully reporting with the U.S. Securities and Exchange Commission (SEC) and up listing to the OTCQB Venture Market. By ensuring financial transparency and adherence to regulatory standards, Green Leaf Innovations aims to attract a broader base of shareholders and enhance investor confidence.
Positioning for Long-Term Success
Roberto Mederos, CEO of Green Leaf Innovations, Inc., stated, "Our recent initiatives reflect a focused strategy to strengthen our financial health, expand our market presence, and enhance shareholder value. We are committed to building a solid foundation for sustainable growth and look forward to continuing to execute on our vision of becoming a dominant player in the premium cigar industry."
About Green Leaf Innovations, Inc.
Green Leaf Innovations, Inc., a Florida corporation, is an emerging growth company engaged in the Marketing and Distribution of handmade premium cigars. The company strategically imports and exclusively distributes some of the best known premium cigar brands in the Market created by the Mederos family a Third generation Cigar maker with Robert Mederos at the helm who has owned and operated handmade cigar operation in Nicaragua and the US for over 20 years with a rich family history in the craft dating back to the 1800s Cuba, brands such as CUBANACAN, MEDEROS and TABACALERA SERRANO. In addition to it the company also distributes packaged whole leaf Tobacco to cigar lounges, smoke shops, C-stores and vape shops across the United States and soon International Markets.
Additional information can be found on our websites http://www.greenleafinnovation.com or follow us on Twitter @otcgrlf.
For more information, press only:
Phone number: (800) 303-6268
Email: [email protected]
Safe Harbor Statement:
The information posted in this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by use of the words "may," "will," "should," "plans," "expects," "anticipates," "continue," "estimate," "project," "intend," and similar expressions. The Company may also make written or oral forward-looking statements in its filings with the U.S. Securities and Exchange Commission, in press releases and other written materials, and in oral statements made by its officers, directors or employees to third parties. There can be no assurance that such statements will prove to be accurate. The Company cautions that these forward-looking statements are further qualified by other factors including, but not limited to, those set forth in the Company's Annual Reports on Form 10-K and its other filings with the Securities and Exchange Commission. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing various engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technological advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced components, and various other factors beyond the Company's control. The Company does not undertake any obligation to update publicly or to revise any statements in this release, whether as a result of new information, future events, or otherwise.
Contact Information
RYAN MEDICO
MARKETING MANAGER
[email protected]
8003036268
SOURCE: Green Leaf Innovations, Inc.