OSL Holdings Releases Letter to Shareholders CEO Bob Rothenberg outlines company vision; discusses recent activities, including the Company's entry into the legal medical cannabis industry
ORANGEBURG, N.Y., May 23, 2014 /PRNewswire/ -- OSL Holdings (OTCQB: OSLH) ("OSL" or "the Company"), a growth-stage public company in the business of acquiring and optimizing key aspects of the legal medical cannabis industry and loyalty rewards programs, today released a letter to its shareholders from its CEO, Bob Rothenberg.
Thus far, 2014 has seen many changes for OSL Holdings, along with tremendous progress and new opportunities. OSL's corporate mandate has always been to identify and optimize underserved markets comprised of affluent, loyal, and informed consumers and patients with solid spending power, and we believe, through our compassionate focus on and recent experience with the LGBT community, that this vision has been validated.
As noted in our March press release, we have taken a pragmatic , calculated look at the medical marijuana market – keeping in mind both risk and upside – and realized that significant opportunities in line with our corporate vision were readily available, albeit in a staged fashion, dependent upon the various, unique legal environments found in each state where medical cannabis is currently legal.
Consequently, we have been exploring legally operating, fully licensed medical marijuana dispensaries, initially in California, to acquire an option in the future to purchase their medical operations. As part of our strategy, we are offering strategic planning, consulting, marketing, equipment leasing, intellectual property, and other service agreements that we believe will enable these dispensaries to explore how to better manage their operations, inventory, cash flow, and general infrastructure in the future, while allowing them to focus on their primary mission of providing quality medicine to their patients. We have been negotiating agreements whereby dispensary owners and operators will provide an exclusive option to OSL to acquire the dispensary assets when the legal and regulatory environment is right.
OSL will structure its business such that at no time will we ever grow, process, own, handle, or sell marijuana, or the equipment used for these purposes. We have engaged knowledgeable counsel to advise us on matters related to our approach to the medical cannabis market.
In the first of its executed agreements, OSL has agreed to purchase assets – both physical and intangible, such as brands and genetics – with the intention of leveraging these assets in the future medial cannabis and current non-cannabis markets, thereby providing revenue to the Company. We expect to continue our plan of acquiring and leveraging assets in this fashion.
Our commitment to the industry will not be limited to asset purchase transactions and strategic planning contracts but will extend to real estate and marketing services. We believe that in order to truly succeed in this market, OSL must develop proprietary brands and processes, and it must possess and/or acquire world-class talent and market-disruptive technologies. To that end, we have been in negotiations to acquire next-generation farming efficiency technologies, and we expect to have news on these activities to report in the near future.
In order to fund these activities in the legal medical cannabis space, we are actively negotiating to secure lines of credit and private investments, and will report the outcome of our efforts here as well.
Meanwhile, our Loyalty Rewards product programs continue – in fact, we are planning to expand our program into the legal medical marijuana market once we have more asset agreements in place and other market conditions are ideal. We are also actively seeking partners, customers, and possible acquirers for OSL's Loyalty Rewards products.
This is an exciting time for OSL and its shareholders. We are feeling the tremendous momentum in the legal cannabis space and are positioning the Company to capitalize on all segments of the market – while remaining cautiously compliant with all laws and regulations. I invite you to review our existing materials, press releases, and SEC filings, and encourage you to keep OSL on your radar, as we expect to have some exciting, material announcements in the very near future.
Thanks for taking a moment to read this letter, and thank you for being a part of OSL.
Bob Rotherberg, CEO
OSL Holdings, Inc.
OSL Holdings (OTC: OSLH) is a development and technology company specializing in affluent, liberal markets with high disposal income. The Company intends to operate a real-time loyalty rewards platform that can facilitate the earning and redemption of rewards currency at the point of the transaction (online, mobile, at retail) as well as on future transactions. OSL Holdings' target consumers are highly educated, respond to cause marketing initiatives and socially conscious business models, and are technologically savvy. On March 10, 2014, the Company announced its entry into the legal marijuana market, setting up foundational work for branding, marketing, technology, and logistics to existing or emerging legal marijuana licensees via master services, consulting, and lease agreements.
The Company's filings with the SEC are available at http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001329957&owner=exclude&count=40.
For more information, please visit the Company's website at www.oslholdings.com.
Forward Looking Statements – Safe Harbor
This press release contains forward-looking statements as defined within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases you can identify those so-called "forward looking statements" by words such as "may," "will," "should," "expects," plans," "targets," "believes," "anticipates," "estimates," "predicts," "potential," or "continue" or the negative of those words and other comparable words. By their nature, forward-looking statements and forecasts involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the future. There are a number of factors, risks and uncertainties that could cause actual results and developments to differ materially from forecasted results. For a discussion of these factors, risks and uncertainties please see our filings with the Securities and Exchange Commission. Our public filings with the Commission are available from commercial document retrieval services and at the website maintained by the Securities and Exchange Commission at http://www.sec.gov. We assume no obligation to update or alter our forward-looking statements made in this release or in any periodic report filed by us under the Securities Exchange Act of 1934 or any other document, whether as a result of new information, future events or otherwise, except as otherwise required by applicable federal securities laws.
SOURCE OSL Holdings Inc.