GL Brands (Formerly Freedom Leaf) Provides Record First Fiscal Quarter 2020 Revenue Guidance Closely Hitting a 4X Revenue Growth

Company to Participate in the Virtual Investor Conference on January 9th

DALLAS, Jan. 06, 2020 (GLOBE NEWSWIRE) -- GL Brands (OTCQB: FRLF) (“the Company”), a multinational hemp consumer packaged goods company and global house of brands, is pleased to announce that revenue guidance for its recently completed first fiscal quarter of 2020 ended Sept. 30, 2019 in the range of $2.1 million to $2.5 million, as well as its upcoming participation in the Virtual Investor Conference, taking place on Thursday, Jan. 9, 2020 at 3:30 PM ET at https://tinyurl.com/Cannabis-VIC-010920.

Record Revenue Guidance for the First Quarter 2020

For the first fiscal quarter of 2020, the Company is projecting revenue in the range of $2.1 million to $2.4 million, matching its total audited 2019 annual revenue of $2.1 million and surpassing its reported Q1 2019 revenue of $0.6 million, an almost 4X revenue growth. This record revenue growth is a result of the Company’s successful integration of Green Lotus product lines and new distribution partnerships that have positioned GL Brands’ hemp and CBD products on the shelves of major retail chains throughout the U.S. and Mexico.

“The first fiscal quarter of 2020 saw our strongest financial results to date,” said Carlos Frias, CEO of GL Brands. “We see continued top-line growth. We know what steps we need to take to make this business profitable in the long-term. What enabled our near 4x growth in revenue was, first, our successful migration and integration of Green Lotus, and second, our redefining the Company as both a hemp global consumer packaged goods company and a house of brands. For the future, we’ll continue to build brand awareness and increase the efficiency of our supply chain for further rapid and sustainable growth.”

Additionally, the Company will be filing its 10Q for the period of July 1^st to September 30^th within the next 14 days.

Participation at the Virtual Investor Conference Sponsored by the OTC Markets

Mr. Carlos Frias, CEO of GL Brands will also be presenting live at VirtualInvestorConferences.com sponsored by the OTC Markets on Thursday, Jan. 9. The Virtual Investor Conference will be a live, interactive online event where investors are invited to ask Mr. Frias questions in real-time.

DATE: Thursday, January 9^th
TIME: 3:30PM ET
LINK: https://tinyurl.com/Cannabis-VIC-010920

It is recommended that investors pre-register and run the online system check to expedite participation and receive event updates. If attendees are not able to join the event live on the day of the conference, an archived webcast will also be made available after the event.