02:22:42 EDT Tue 19 Mar 2024
Enter Symbol
or Name
USA
CA



Golden Leaf Holdings Ltd
Symbol GLH
Shares Issued 568,724,061
Close 2018-04-23 C$ 0.26
Market Cap C$ 147,868,256
Recent Sedar Documents

Golden Leaf to acquire California pot dispensary

2018-04-24 10:14 ET - News Release

Mr. William Simpson reports

GOLDEN LEAF HOLDINGS SIGNS LETTER OF INTENT TO ACQUIRE CALIFORNIA CANNABIS OPERATION

Golden Leaf Holdings Ltd. has signed a letter of intent to acquire a cannabis dispensary currently in operation in northern California. The transaction would include all assets, including licences and permits covering cultivation, production/manufacturing, distribution and two retail licences, and would represent Golden Leaf's entry into the largest U.S. market for both medical and adult-use cannabis sales.

Under the terms of the LOI, Golden Leaf would pay $1.25-million (U.S.) in cash up front and $500,000 in Golden Leaf stock, with additional earnout payments up to $8-million (U.S.) based on future revenue thresholds.

"Signing this LOI is another key strategic step forward for Golden Leaf, as we continue to execute on our plan to introduce our retail brand-focused model to the largest growth markets, both in the U.S. and internationally," commented William Simpson, chief executive officer of Golden Leaf. "California clearly represents the largest market opportunity in the U.S. and we are excited by the prospect of entering this marketplace that is still in its early days for adult use. By establishing a presence in Nevada, Canada and, we anticipate, California to complement our core Portland, Ore., commercial footprint, we are targeting key markets where we see the most potential for growth. We remain confident in our ability to expand our retail brand-focused model and to build sustainable, long-term shareholder value."

About Golden Leaf Holdings Ltd.

Golden Leaf Holdings is one of the largest cannabis oil and solution providers in North America and a leading cannabis products company built around recognized brands. Golden Leaf cultivates, extracts, and manufactures and distributes its products through its branded Chalice Farm retail dispensaries, as well as through third party dispensaries.

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