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GOLDEN LEAF HOLDINGS LTD. ANNOUNCES THE COMPLETION OF

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flemsnopes   Wednesday, 06/15/16 11:29:27 PM
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GOLDEN LEAF HOLDINGS LTD. ANNOUNCES THE COMPLETION OF THIRD TRANCHE OF PRIVATE PLACEMENT OF CONVERTIBLE DEBENTURES

TORONTO, June 15, 2016 – Golden Leaf Holdings Ltd. ("GLH" or the "Company") (CSE: GLH), is pleased to announce the first closing of the third tranche of its previously announced private placement of convertible senior unsecured debentures of the Company (the “Debentures”) which were issued at a price per Debenture of C$1,000, for aggregate gross proceeds of approximately C$318,000 (the “Offering”). This tranche is expected to be part of a total of C$2.1 million to be invested by insiders. The insider participants are purchasing the Debentures at the same convertible note price of C$0.67 that was part of the initial closing.

Combining previous tranches and this round of funding, a total of approximately C$7.856 million has been raised, with insiders subscribing for C$3.478 million. The Company intends to use the net proceeds of the Offering for operational and working capital purposes.

Don Robinson, CEO, stated, “We are pleased with the additional funding support that our insiders provided. The Company is fortunate to have partners who have such a large stake in the company as evidenced by insiders owning 46% of outstanding shares.”
The Debentures and underlying common shares will be subject to a statutory hold period in Canada of four months plus one day from the closing date pursuant to Canadian securities laws. The securities mentioned herein have not been and will not be qualified by prospectus for sale to the public under applicable Canadian securities laws and will be subject to transfer and selling restrictions in certain jurisdictions, including the United States and Canada.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the United States Securities Act of 1933, as amended, and applicable state securities laws.

About Golden Leaf Holdings:

Golden Leaf Holdings Ltd. is one of the largest cannabis oil and solution providers in North America. It's a leading cannabis products company in Oregon built around recognized brands. GLH leverages a strong management team with cannabis and food industry experience to complement its expertise in growing, extracting, refining and selling cannabis oil.


For further information, please contact:

Golden Leaf Holdings Ltd. Investor Relations:
Paul Searle
T: 778.240.7724
E:pauljsearle@shaw.ca

I am only expressing my personal opinions or repeating public information from SEC filings or media outlets-which may or may not be correct. Do your own investigating before investing!
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