Dundee is lead agent; 18-month note finances working capital purposes
By Devika Patel
Knoxville, Tenn., Jan. 22 – Golden Leaf Holdings Ltd. said it will raise between C$4.5 million and C$10 million in a private placement of senior unsecured convertible debentures.
The 10% convertible debentures are being sold at par of C$1,000 and mature in 18 months. The debenture may be converted into common shares at C$0.67 per share, a 3.07% premium to the Jan. 21 closing share price of C$0.65.
The deal will be conducted by a syndicate of agents led by Dundee Securities Ltd.
Settlement is expected Feb. 11.
Proceeds will be used for a strategic partnership with BMF Washington LLC and working capital purposes.
The Toronto company sells cannabis oil products.
| Issuer: | Golden Leaf Holdings Ltd.
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| Issue: | Senior unsecured convertible debentures
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| Amount: | C$4.5 million (minimum), C$10 million (maximum)
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| Price: | C$1,000
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| Maturity: | 18 months
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| Coupon: | 10%
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| Conversion price: | C$0.67
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| Conversion premium: | 3.07%
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| Warrants: | No
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| Agent: | Dundee Securities Ltd. (lead), Liberty North Capital Corp.
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| Pricing date: | Jan. 22
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| Settlement date: | Feb. 11
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| Stock symbol: | CNSX: GLH
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| Stock price: | C$0.65 at close Jan. 21
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