PEMBROKE PINES, FL / ACCESSWIRE / August 22, 2024 / Green Leaf Innovations, Inc. (OTC PINK:GRLF), a Florida corporation and an emerging growth company engaged in the marketing and distribution of handmade premium cigars, is pleased to announce the signing of a letter of intent to acquire SOFLO Wholesaler Group, Inc., a leading wholesale cigar distributor.
SOFLO Wholesaler Group, Inc. has made significant strides in the cigar industry over the past four years, earning a reputation as the distributor of 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 grown its market share to serve 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 anticipated growth projected for 2024. The company's current assets exceed $500,000, further solidifying its strong financial foundation.
The acquisition of SOFLO Wholesaler Group, Inc. will significantly enhance Green Leaf Innovations' product offerings, which include premium cigars and cigar accessories, and will bolster its presence in the expanding U.S. and international markets.
Roberto Mederos, CEO of Green Leaf Innovations, Inc., commented, "This strategic acquisition marks a pivotal moment for our company as we continue to build on our commitment to delivering the finest cigars to our customers. With Miguel Pinto and the SOFLO team joining forces with Green Leaf, we are confident that this partnership will drive growth and value for our shareholders."
The transaction is expected to close in the coming weeks, subject to customary closing conditions.
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: info@greenleafinnovation.com
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
info@greenleafinnovation.com
8003036268
SOURCE: Green Leaf Innovations, Inc.
View the original press release on accesswire.com
