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Golden Leaf Announces Private Placement of Unsecured Convertible Subordinated Debenture Units for up to $15 million
Golden Leaf Announces Private Placement of Unsecured Convertible Subordinated Debenture Units for up to $15 million.
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[{"type":"text","content":"\n\n\n\nGolden Leaf Announces Private Placement of Unsecured Convertible Subordinated Debenture Units for up to $15 million\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 Private Placement of Unsecured Convertible Subordinated Debenture Units for up to $15 million\nCanada NewsWire\nTORONTO, Sept. 10, 2018\n\n\n\nNOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FORDISSEMINATION IN THE UNITED STATES\n TORONTO, Sept. 10, 2018 /CNW/ - Golden Leaf Holdings Ltd. (\"Golden Leaf\" or the \"Company\") (CSE:GLH) (OTCQB:GLDFF), a cannabis company with cultivation, production and retail operations built around recognized brands, today announced that it has entered into an agreement with Canaccord Genuity Corp. (\"Canaccord Genuity\") as sole agent and bookrunner with respect to a \"best efforts\" private placement of unsecured convertible subordinated debenture units (the \"Offering\").\nPursuant to the Offering, the Company has engaged Canaccord Genuity to offer to sell, on a best efforts, private placement basis, up to C$15 million of debenture units (the \"Units\") of the Company, each Unit to be comprised of one C$1,000 principal amount unsecured convertible subordinated debenture (each, a \"Debenture\" and collectively, the \"Debentures\") accruing interest at 12% per annum until December 31, 2019, after which date interest will decrease to 10% per annum, and be payable semi-annually until maturity, and 1,665 common share purchase warrants of the Company (each, a \"Warrant\" and collectively, the \"Warrants\"), at a price of C$1,000 per Unit, for aggregate gross proceeds of up to C$15 million. Each Debenture is convertible into common shares of the Company (each, a \"Common Share\") at a conversion price of C$0.30 per Common Share (the \"Conversion Price\"), subject to adjustment and acceleration in certain events. The Debentures will mature 36 months from the closing of the Offering. Each Warrant will entitle the holder to acquire one Common Share at a price of C$0.40 per Common Share for a period of two ye...