Golden Leaf Holdings Announces Final Closing of More Non-Brokered Private Placements

PORTLAND, Ore., April 05, 2021 — Golden Leaf Holdings Ltd. (CSE: GLH) (OTCQB: GLDFF) (“Golden Leaf” or the “Company”), a premier, consumer-driven cannabis company specializing in production, processing, wholesale, distribution and retail, is pleased to announce that all tranches of its non-brokered private placement (the “Non-Brokered Offering”) of units (“Units”), previously announced on February 17, 2021, have now closed.  The Company received total subscriptions for gross proceeds of C$10,375,154.  Each Unit is comprised of one common share of the Company (a “Common Share”) and one Common Share purchase warrant (a “Warrant”).  Each Warrant is exercisable to acquire one Common Share (a “Warrant Share”) at an exercise price of C$0.10 per Warrant Share for a period of 24 months from the closing.  The Units will have a hold period of four months and one day from the date of issuance. Finder’s fees consisting of cash and/or finders warrants were paid to certain subscribers with each such warrant entitling the holder to acquire one Common Share for C$0.10 for a period of 24 months.

“The completion of this placement provides the Company with the financial ability to complete its previously announced transformational retail acquisition and leaves the Company with sufficient capital to allow for smaller additional accretive acquisitions,”  commented John Varghese, Executive Chairman of GLH.

The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom.  This press release does not constitute an offer to sell or a solicitation to buy any securities in any jurisdiction.


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