Golden Leaf Holdings (GLH-Cse) March 14, '16 is pleased to announce the closing of its previously announced private placement of convertible senior unsecured debentures of the Company (the "Debentures") which were issued at a price per Debenture of C$1,000, for aggregate gross proceeds of C$5,863,000 (the "Offering"). The Offering was completed through a syndicate of agents led by Dundee Securities Ltd. and including Liberty North Capital Corp. as an advisor to the Company.
The Company intends to use the net proceeds of the Offering for funding of the previously announced strategic partnership with BMF Washington LLC and for working capital purposes.
Don Robinson, CEO, 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.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the United States Securities Act of 1933, as amended, and applicable state securities laws.
About Golden Leaf Holdings:
Golden Leaf Holdings Ltd. is one of the largest cannabis oil and solution providers in North America. It's a leading cannabis products company in Oregon built around recognized brands. GLH leverages a strong management team with cannabis and food industry experience to complement its expertise in growing, extracting, refining and selling cannabis oil.
Contact Information
For further information, please contact:
John Aird
Investor Relations
Golden Leaf Holdings Ltd.
T: 416.725.6458
E: jaird@goldenleafholdings.com
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