TORONTO, Aug. 23, 2019 (GLOBE NEWSWIRE) — Golden Leaf Holdings Ltd. (“Golden Leaf” or the “Firm”) (CSE:GLH) (OTCQB:GLDFF), a pioneer cannabis oil options firm and dispensary operator constructed round acknowledged manufacturers, has introduced the completion of the debenture funds.

On July 2, 2019, the Firm issued 4,848,464 frequent shares at C$0.0782 to pay curiosity on the debentures for a complete of C$379,150. 

On August 21, 2019, as disclosed, with better than 98 p.c assist, the debenture holders authorized the reimbursement of the principal quantity of the convertible debentures of C$12,961,000 and accrued curiosity of C$190,815, by way of an early conversion in the present day, August 23, 2019 at C$0.06. The Firm issued 219,069,556 frequent shares to repay the principal and accrued curiosity. The unique maturity date of those debentures was November 2, 2019.

In July 2019, the Firm reached an settlement in precept to increase the due date for the $9,527,350 earn-out cost because of Chalice LLC and its members. This settlement was conditional on early settlement of the convertible debentures. Because the debenture holders agreed to speed up the settlement of the debentures, the settlement to increase the Chalice LLC earn-out cost from November 2, 2019 to Might 2, 2022 turned efficient. The principal quantity of the earn-out cost because of Chalice LLC and its members is $9,527,350, of which $5,000,000 is payable in money and $4,527,350 is payable within the firm’s frequent shares.

About Golden Leaf Holdings
Golden Leaf Holdings Ltd., a Canadian firm with operations in a number of jurisdictions together with Oregon, Nevada and Canada, is likely one of the largest cannabis oil and resolution suppliers in North America, and a pioneer cannabis merchandise firm constructed round acknowledged manufacturers. Golden Leaf cultivates, extracts, manufactures and distributes its merchandise by its branded Chalice Farm retail dispensaries, in addition to by third get together dispensaries. Golden Leaf leverages a powerful administration group with cannabis and meals trade expertise to enrich its experience in extracting, refining and promoting cannabis oil.  Go to goldenleafholdings.com to study extra.          

Firm:
John Varghese
Interim CEO
Golden Leaf Holdings Ltd.
[email protected]

Investor Relations:
Steve Hosein
Renmark Monetary Communications
416-644-2020

Media Relations:
Anne Donohoe / Nick Opich
KCSA Strategic Communications
[email protected] / [email protected]
212-896-1265 / 212-896-1206

Disclaimer: This press launch incorporates “forward-looking info” throughout the which means of relevant securities laws. Ahead-looking info consists of, however is just not restricted to, statements with respect to the Firm’s future enterprise operations, the opinions or beliefs of administration and future enterprise targets. Typically, ahead wanting info might be recognized by way of forward-looking terminology akin to “plans”, “expects” or “doesn’t count on”, “is predicted”, “price range”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “doesn’t anticipate”, or “believes”, or variations of such phrases and phrases or state that sure actions, occasions or outcomes “might”, “may”, “would”, “would possibly” or “shall be taken”, “happen” or “be achieved”. Ahead-looking info is topic to recognized and unknown dangers, uncertainties and different components which will trigger the precise outcomes, stage of exercise, efficiency or achievements of the Firm to be materially totally different from these expressed or implied by such forward-looking info. These dangers embody however should not restricted to normal enterprise, financial and aggressive uncertainties, regulatory dangers, market dangers, dangers inherent in manufacturing and retail operations akin to unexpected prices and manufacturing shutdowns, difficulties in sustaining model loyalty, and different dangers of the cannabis trade. Though the Firm has tried to determine necessary components that might trigger precise outcomes to vary materially from these contained in forward-looking info, there could also be different components that trigger outcomes to not be as anticipated, estimated or supposed. There might be no assurance that such info will show to be correct, as precise outcomes and future occasions may differ materially from these anticipated in such statements. Accordingly, readers mustn’t place undue reliance on ahead wanting info. Ahead-looking info is offered herein for the aim of presenting details about administration’s present expectations referring to the longer term and readers are cautioned that such info will not be acceptable for different goal. The Firm doesn’t undertake to replace any forward-looking info, besides in accordance with relevant securities legal guidelines. This press launch doesn’t represent a proposal of securities on the market in america, and such securities will not be provided or offered in america absent registration or an exemption from registration or an exemption from registration.

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