Golden Leaf Holdings Ltd. (
CSE.GLH,
OTCQB: GLDFF,
Forum) – a premier, consumer-driven cannabis company specializing in retail, production, processing, wholesale and distribution – has announced the signing of a non-binding letter of intent (LOI) to acquire a multistore chain in Northwest Oregon.
It is expected that these stores will generate at least US$10 million in annual run rate revenue – based on unaudited January 2021 results – and had a net operating margin of 11% (unaudited) during fiscal 2020 (under U.S. GAAP).
Golden Leaf’s Executive Chairman John Varghese commented:
“We will announce further details about this transaction upon the signing of a definitive purchase agreement.”
Chief Executive Officer Jeff Yapp added:
“The acquisition of this retail chain will be transformative for GLH, as it would further cement us as a leader in the Oregon market. The Company expects this transaction to be accretive on close, as we will achieve tremendous synergy with our effort and current footprint and the introduction of our market-leading Chalice brand products.”
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