NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED
STATES
TORONTO, Jan. 31, 2018 (GLOBE NEWSWIRE) -- Golden Leaf Holdings Ltd. (the “Company”, “Golden Leaf” or the
“Issuer”) (CSE:GLH) (OTCQB:GLDFF) is pleased to announce the closing of its previously announced offering (the "Offering") of units
(the "Units") on a private placement bought deal basis. Pursuant to the Offering, the Company issued a total of 38,980,000 Units at
a price per Unit of $0.45, for gross proceeds of $17,541,000, including 5,580,000 Units issued pursuant to the exercise of the
underwriter’s over-allotment option in full.
Each Unit consists of one common share of the Company (a "Common Share") and one common share purchase warrant
(a "Warrant"). Each Warrant entitles the holder thereof to acquire one Common Share at a price of $0.55 for a period of 24 months
from the closing of the Offering.
Net proceeds from the Offering will be used primarily for the Company's strategic growth initiatives and for
general working capital purposes.
The Offering was led by Canaccord Genuity Corp. All Common Shares and Warrants issuable upon the closing of the
Offering will be subject to a statutory hold period lasting four months and one day following from the closing date of the
Offer.
The securities 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 or to, or for the account or benefit of, U.S. persons absent
registration or an applicable exemption from the registration requirements. 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.
To be added to the email distribution list please email GLH@kcsa.com with ‘GLH’ in the subject line.
About Golden Leaf Holdings
Golden Leaf Holdings Ltd., based in Portland, Oregon, is one of the largest cannabis oil and solution providers in North
America, and a leading cannabis products company built around recognized brands. Golden Leaf Holdings cultivates, extracts and
manufactures and distributes its products through its branded Chalice Farm retail dispensaries, as well as through third party
dispensaries. Golden Leaf leverages a strong management team with cannabis and food industry experience to complement its expertise
in extracting, refining and selling cannabis oil. Visit http://goldenleafholdings.com/ to learn more.
Media Contacts:
Anne Donohoe / Anne Szustek
KCSA Strategic Communications
adonohoe@kcsa.com/aszustek@kcsa.com
212-896-1265 / 212-896-1210
Investor Relations:
Steve Silver / Phil Carlson
GLH@kcsa.com
212-896-1220 / 212-896-1233
Company:
William Simpson
Chief Executive Officer
Golden Leaf Holdings Ltd.
503-477-7626
William@chalicefarms.com
Disclaimer: This press release contains "forward-looking information" within the meaning of applicable
securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the Company’s
future business operation, expectations of gross sales, the opinions or beliefs of management and future business goals, the use of
the net proceeds of the Offering. Generally, forward looking information can be identified by the use of forward-looking
terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts",
"intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain
actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking
information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of
activity, performance or achievements of the Company to be materially different from those expressed or implied by such
forward-looking information, including but not limited to general business, economic and competitive uncertainties, regulatory
risks including risks related to the expected timing of the Company’s participation in the Adult Use market, market risks, risks
inherent in manufacturing operations and other risks of the cannabis industry. Although the Company has attempted to identify
important factors that could cause actual results to differ materially from those contained in forward-looking information, there
may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such
information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such
statements. Accordingly, readers should not place undue reliance on forward looking information. Forward-looking information is
provided herein for the purpose of presenting information about management’s current expectations relating to the future and
readers are cautioned that such information may not be appropriate for other purpose. The Company does not undertake to update any
forward-looking information, except in accordance with applicable securities laws. This Release does not constitute an offer of
securities for sale in the United States, and such securities may not be offered or sold in the United States absent registration
or an exemption from registration.
