| | | Golden Leaf closes $5.86-million placement
2016-03-14 08:10 ET - News Release
Shares issued 61,223,736
Mr. Don Robinson reports
GOLDEN LEAF HOLDINGS LTD. ANNOUNCES THE COMPLETION OF THE PRIVATE PLACEMENT OF CONVERTIBLE DEBENTURES
Golden Leaf Holdings Ltd. has closed its previously announced private placement of convertible senior unsecured debentures of the company which were issued at a price per debenture of $1,000, for aggregate gross proceeds of $5,863,000. The offering was completed through a syndicate of agents led by Dundee Securities Ltd. and including Liberty North Capital Corp. as an adviser to the company.
The company intends to use the net proceeds of the offering for financing of the previously announced strategic partnership with BMF Washington LLC and for working capital purposes.
Don Robinson, chief executive officer, stated: "We are pleased with the success of the private placement that will allow GLH to implement our strategic initiatives both in Oregon and Washington state, which will in turn significantly impact our sales and bottom line moving forward."
The debentures and underlying common shares will be subject to a statutory hold period in Canada of four months plus one day from the closing date pursuant to Canadian securities laws. The securities mentioned herein have not been and will not be qualified by prospectus for sale to the public under applicable Canadian securities laws and will be subject to transfer and selling restrictions in certain jurisdictions, including the United States and Canada.
We seek Safe Harbor. |
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