On November 2, 2017, Golden Leaf Holdings Ltd. completed a private placement offering of units for aggregate gross proceeds of $15 million, at a price of $1,000 per unit. Each unit consists of one 10% senior secured convertible debenture and 2,381 common share purchase warrants. The principal amount of the debentures is convertible into common shares of the Golden Leaf at a price of $0.21 per share and each warrant entitles the holder to acquire one common share of Golden Leaf at a price of $0.28 per share, for a period of 24 months. Canaccord Genuity Corp. acted as the sole agent in respect of the sale of units under the offering.
Cassels acted for Golden Leaf with a deal team composed of Greg Hogan and James Lyle (Securities) and Peter Sullivan and Lauren Grossman (Financial Services).