Chalice Brands Ltd CHALF

NR: PP closed

[buddingprospect]

PORTLAND, Ore., April 05, 2021 (GLOBE NEWSWIRE) -- 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.

About Golden Leaf Holdings
Golden Leaf Holdings is a premiere consumer-driven cannabis company specializing in production, processing, wholesale, distribution and retail, with 7 dispensaries in Portland, Oregon. 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. Visit glhmonthly.com for regular updates.

[Goodgrief]

So if I'm understanding right GLH has gotten somebody to give them over $10,000,000.at $.10 a share and can't sell them for four months in one day that would put us in September and they have 24 months to sell the shares ? so projecting to September the share should be $.10 or more than $.10 whoever is managing $10 million would they really want the Reverse split to happen ? what

[Goodgrief]

So somebody managing $10 million doesn't believe Chuck Cheese Schumer is going to do anything soon soon is September  With a reverse split at $.10 so now he has 1 million shares at a dollar  10 to 1 split  Ready for Chuck  Cheese Schumer to legalize marijuana

[Goodgrief]

So in saying this I can't see somebody that gives GLH 10 million and Can't sell it even if the stocks at $.30 10 million I made 30 million I would want to sell so I can't see the stock hitting $.30 anytime soon maybe $.10 or $.11  Before May 10

[GideonO]

no not at all - if I recall the PP correclty the share price was at 0.06 per share - those shares are tradable at any point in time - its the warrents that came with them that have a price of 0.10 and are not tradable for 4 months - if there is a split the price of the warrents doesn't stay at 0.10 they would be adjusted based of the split. so if there was a 16:1 split the price of the

[Goodgrief]

Thank you