Golden Leaf Holdings Ltd. announced unaudited financial results for the first quarter ended March 31, 2017. Despite facing significant regulatory challenges in Oregon's cannabis industry in 2016 as previously communicated, the company overcame obstacles and positioned itself in 2017 for renewed revenue growth and success. The company generated revenues of $2,259,094 for the three months ended March 31, 2017, a slight decrease compared to $2,316,688 for the three months ended March 31, 2016, but a significant increase compared to $434,967 for the three months ended December 31, 2016. In the first quarter of 2017 the revenues increased by over 400% versus fourth quarter of 2016. On an adjusted EBITDA basis, the company reported a reduced EBITDA loss of $1,854,565 for the three months ended March 31, 2017 compared to an EBITDA loss of $2,346,339 for the three months ended March 31, 2016 and an EBITDA loss of $2,074,566 for the three months ended December 31, 2016. This EBITDA loss improvement and positive trend is a result of the company's focus on continued cost-cutting and efficiency gains. In addition, GLH expects to recognize margin improvements once the company begins manufacturing its own oils and edible products in its new Eugene, Oregon production facility.