Golden Leaf Holdings closes financing GOLDEN LEAF HOLDINGS ANNOUNCES FINAL CLOSING OF NON-BROKERED PRIVATE PLACEMENT
All tranches of Golden Leaf Holdings Ltd.'s non-brokered private placement of units, previously announced on Dec. 21, 2020, have now closed. The company received total subscriptions for gross proceeds of $3,446,121. Each unit comprises one common share of the company and one common share purchase warrant. Each warrant is exercisable to acquire one common share at an exercise price of six cents 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. Finders' fees of 5 per cent in cash and 5 per cent in finders' warrants, with each such warrant entitling the holder to acquire one common share for six cents for a period of 24 months, were paid on certain subscriptions. Insiders have subscribed for a total of approximately $300,000.
Included in the non-brokered offering were subscriptions from certain directors and officers, who were issued units at a deemed issue price of five cents in satisfaction of foregone 2020 compensation totalling C$404,528.
In total, six directors and officers have subscribed for a total of $704,528 or 20 per cent of the offering, demonstrating their confidence in the future of Golden Leaf Holdings.
About Golden Leaf Holdings Ltd.
Golden Leaf Holdings is a premier consumer-driven cannabis company specializing in production, processing, wholesale, distribution and retail, with seven dispensaries in Portland, Ore. The company is committed to developing a dynamic portfolio built around the recognized brands of Chalice Farms, with a focus on health and wellness. Markets served include Oregon, California, Nevada and Washington.