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Golden Leaf Completes $17.5 Million Private Placement

Published: 01/31/2018

Team: John P. Vettese, Gregory Hogan, Jackson Phillips

On January 31, 2018, Golden Leaf Holdings Ltd. closed a bought deal private placement of 38,980,000 units at a price of $0.45 per unit for gross proceeds of $17.5 million, 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 Golden Leaf and one common share purchase 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 Golden Leaf’s strategic growth initiatives and for general working capital purposes.

Cassels Brock acted for Golden Leaf with a deal team that included John Vettese, Greg Hogan and Jackson Phillips (Securities and Cannabis).