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Golden Leaf Announces C$7.5 Million Bought Deal Financing
Golden Leaf Announces C$7.5 Million Bought Deal Financing.
About this update from Chalice Brands Ltd.
[{"type":"text","content":"\n\n\n\nGolden Leaf Announces C$7.5 Million Bought Deal Financing\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\nGolden Leaf Announces C$7.5 Million Bought Deal Financing\nCanada NewsWire\nTORONTO, Jan. 8, 2018\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n\n\n\nTORONTO, Jan. 8, 2018 /CNW/ - Golden Leaf Holdings Ltd. (the \"Company\", \"Golden Leaf\" or the \"Issuer\") (CSE:GLH) (OTCQB: GLDFF) announced today that it has entered into an agreement with Canaccord Genuity Corp. (the \"Underwriter\"), pursuant to which the Underwriter has agreed to purchase, on a bought deal private placement basis, 16,750,000 units of the Company (the \"Units\"), at a price of $0.45 per Unit (the \"Offering Price\"), for aggregate gross proceeds to Golden Leaf of $7,537,500 (the \"Offering\").\n\nEach Unit will be comprised of one common share of the Company (a \"Common Share\") and one common share purchase warrant (each a \"Warrant\"). Each Warrant will be exercisable to acquire one common share (a \"Warrant Share\") for a period of 2 years following the closing date of the Offering at an exercise price of $0.55 per Warrant Share, subject to adjustment in certain events. \n\nGolden Leaf has also granted the Underwriter an option (the \"Over-Allotment Option\") exercisable at any time on or before the closing date to purchase up to 5,580,000 additional Units of the Company on the same terms as the Offering. If the Over-Allotment Option is exercised in full, the aggregate gross proceeds of the Offering will be $10,048,500. \n\nNet proceeds from the Offering will be used primarily for the Company's strategic growth initiatives and for general working capital purposes.\n\nClosing of the Offering is expected to occur on or about January 31, 2018 and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and stock exchange approvals.\n\nThe securities will be offered on a private placement basis, pursuant to prospectus exemptions under National In...