Freedom Leaf Inc. announce that its newly acquired subsidiary, Green Lotus, completed its inaugural shipment of $600,000 of topical hemp-CBD products to Mexico on July 31. Products will be distributed by Green Lotus' Mexican partner, CBD Life SA, initially in up to 4,000 locations and expanding to over 40,000 locations over the next 12 months.
This represents the first commercial shipment of retail products that can be distributed in Mexico through regular distribution channels, requiring no additional government approvals or medical certifications. The initial shipment includes three SKUs of 3-ounce CBD creams labeled "Heat," "Freeze," and "Salve." Every product label will also include "manufactured by Green Lotus."
David Goldburg, Merida Capital Senior Partner and Chairman of the Board, said, "One of the reasons we were so excited about the Green Lotus acquisition is the ability of Carlos Frias (Freedom Leaf CEO) and his team to penetrate new international markets. As a first mover in Mexico, we have an opportunity to be one of the largest players in this emerging market with significant opportunities for growth. This also validates Merida's investment thesis that the Freedom Leaf-Green Lotus combination will significantly enhance revenue domestically, open new markets, and lead to increased market share, benefiting all shareholders as management continues to execute on its strategic plan."