Golden Leaf wraps C$500,000 of C$8.78 million convertibles placement

Dundee is lead agent; 18-month note to finance working capital

By Devika Patel

Knoxville, Tenn., July 15 – Golden Leaf Holdings Ltd. said it raised about C$500,000 in the fifth tranche of an C$8.78 million private placement of senior convertible debentures. The deal priced for between C$4.5 million and C$10 million on Jan. 22. It raised about C$5.86 million on March 14, about C$1.65 million on April 5, about C$318,000 on June 15 and about C$419,000 on June 22.

The 10% convertible debentures were sold at par of C$1,000 and mature in 18 months. They 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 is being conducted by a syndicate of agents led by Dundee Securities Ltd.

Proceeds will be used for a strategic partnership with BMF Washington LLC and for operational and working capital purposes.

The Toronto company sells cannabis oil products.

Issuer:	Golden Leaf Holdings Ltd.
Issue:	Senior convertible debentures
Amount:	C$8,775,000 (approximate)
Price:	C$1,000
Tenor:	18 months
Coupon:	10%
Conversion price:	C$0.67
Conversion premium:	3.07%
Warrants:	No
Agents:	Dundee Securities Ltd. (lead), Liberty North Capital Corp.
Pricing date:	Jan. 22
Settlement dates:	March 14 (for C$5,863,000), April 5 (for C$1.65 million), June 15 (for about C$318,000), June 22 (for about C$419,000), July 15 (for about C$500,000)
Stock symbol:	CNSX: GLH
Stock price:	C$0.65 at close Jan. 21
Market capitalization:	C$34.75 million

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.