Golden Leaf Signs Binding Letter of Agreement to Acquire Leading Oregon Cannabis Business
Canaccord Genuity Toronto to Lead Capital Raise to Fund Acquisition Strategy
TORONTO, ON--( March 22, 2017) - Golden Leaf Holdings Ltd. ("GLH" or the "Company") (CSE: GLH)(OTCQB: GLDFF), a leading cannabis oil solutions company built around recognized brands, is pleased to announce that the Company has signed a binding Letter of Agreement (LOA) to acquire Chalice LLC ("Chalice Farms") (https://chalicefarms.com/), a leading vertically integrated cannabis company in Oregon (the "Transaction").
In conjunction with the Transaction, the Company has entered into an engagement agreement with Canaccord Genuity Corp. ("Canaccord" or the "Agent") with respect to a best efforts brokered private placement of subscription receipts (the "Subscription Receipts") for anticipated gross proceeds of up to approximately $35 million (the "Offering"). The net proceeds from the Offering are to be used to satisfy the cash component of the purchase price for the Chalice Farms Transaction, as well as to fund the Company's recently announced acquisitions and for existing operations. The Subscription Receipts will be priced in the context of the market.
- Published: 22 March 2017
- Written by Editor