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Strategies & Market Trends : Golden Leaf GLH or GLDFf

GLDFF 0.0570

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Dec 3 3:12 PM EST

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From: Rocket Red	4/5/2016 9:17:00 AM
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Golden Leaf closes $1.65M second tranche of financing 2016-04-05 09:06 ET - News Release Shares issued 94,540,673 Mr. Don Robinson reports GOLDEN LEAF HOLDINGS LTD. ANNOUNCES THE COMPLETION OF THE PRIVATE PLACEMENT OF CONVERTIBLE DEBENTURES Golden Leaf Holdings Ltd. has closed the second tranche of 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 approximately $1.65-million. 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. Combining the two tranches, a total of approximately $7.5-million was raised, with insiders subscribing for $1.5-million. 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 very pleased to have closed this financing and continue to progress and achieve our milestones in Oregon and Washington. I expect these funds will fast track the company into profitability and move us into a leading pole position in both states." 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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