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Thank you!
What was the the reverse split ratio here?
TOTALLY agree .. Anything under a dollar is bank IMO .
Stay safe >> M
It's showing pre-split prices off and on whenever I look up the current value, but when I put in a buy order a little while ago, it did reflect the accurate post-split price, so I picked up another chunk at 45 cents... After the last 2 quarters, management seems to be heading in the right direction, so I feel like the post-split plummet is a gift in disguise right now.
I am surprised this hasn't been halted . CRAZY trading ...
In US GLDFF is the symbol . CHAL is only in Canada .
That may have confused the US brokerages this morning .
My brokerage account shows GLDFF
at .07 cents. Haven't seen CHAL yet. That's good news on the 1st qtr.
How is this trading at pre-split prices ???
Chalice Brands Ltd. Reports Record First Quarter 2021 Revenues of $5.5 million and Consecutive Positive Adjusted EBITDA(1)
https://www.otcmarkets.com/stock/GLDFF/news/Chalice-Brands-Ltd-Reports-Record-First-Quarter-2021-Revenues-of-55-million-and-Consecutive-Positive-Adjusted-EBITDA1?id=304515
Yep, Victoria Day. Thanks for the reminder!
Canadian holiday today , yes ?
I'm surprised that GLDFF is trading today. They
do have GLH shut down for the re-structuring.
https://goldenleafholdings.com/investors/
Re-structure at open tomorrow somewhere around $1.15 or so .
Chalice (CHAL) in Canada ... OTC symbol change to follow .
That's much better, thanks.
I saw no news of any kind on this site. It was just a marketplace for purchasing marijuana products...
A very good site to get info on legalization and much more go to Marijuana Moment.com Has up to the minute news on what is happening in the Senate and in all 50 States.
Golden Leaf Announces Timing of Corporate Name Change to Chalice Brands Ltd. and Share Consolidation
PORTLAND, Ore., May 20, 2021 (GLOBE NEWSWIRE) -- Golden Leaf Holdings Ltd. (CSE:GLH) (OTCQB:GLDFF) (“Golden Leaf” or the “Company”), announced today that, pursuant to the shareholder approval obtained by the Company at its Annual and Special Meeting (“AGM”) held on May 10, 2021, the Company is enacting the consolidation of its common shares on the basis of one (1) post-consolidation common share for every twenty-three (23) pre-consolidation common shares (the "Consolidation") and the change of its name from “Golden Leaf Holdings Ltd.” to “Chalice Brands Ltd.” (the “Name Change”).
The Consolidation and the Name Change will take effect on Tuesday, May 25, 2021 and the Company's common shares will commence trading on a post-Consolidation basis under the new name and under the symbol “CHAL” on the Canadian Securities Exchange at the open of trading on May 20, 2021. The Company will receive a new symbol for the OTCQB in short-order and will announce separately.
“Management believes the acquisition of Homegrown as announced on May 19, 2021 represents a transformative event for Chalice, making this the right inflection point to embark on the Name Change and Consolidation. As noted in that release, we raised sufficient capital to fund this accretive acquisition. Combined with the fact that Homegrown is cash flow positive, the Company will be able to generate positive cash flow to fund operations,” stated John Varghese, Executive Chairman of Chalice Brands Ltd.
“Rebranding as Chalice allows this management team that has been on executing our “Crawl, Walk, Run” operating philosophy to focus on the future and leave all legacy issues behind”, stated Jeff Yapp, Chief Executive Officer of Chalice Brands Ltd. Over the last 18 months we have continued to gather momentum and galvanize management behind the Chalice brand.” Our Chalice Farms stores and our Chalice chews are the pride of our business. As we put the Golden Leaf era behind us, this name change serves to symbolize our resurgence as a relevant contender in the US cannabis industry, driven by leadership in our home market of Oregon.”
As a result of the Consolidation, approximately 1,358,871,942 common shares issued and outstanding prior to the Consolidation will be reduced to approximately 59,081,260 common shares. Each shareholder’s percentage ownership in the Company and proportional voting power will remain unchanged after the Consolidation. No fractional common shares will be issued in connection with the Consolidation and, in the event that a shareholder would otherwise be entitled to receive a fractional common share as a result of the Consolidation, such fraction will be rounded down to the nearest whole number.
In order to receive certificates representing post-Consolidation common shares issued pursuant to the Consolidation, shareholders must deliver to Odyssey Trust Company as depositary (i) their certificates representing common shares; (ii) a duly completed letter of transmittal, which was previously delivered to shareholders; and (iii) such other documents as the Depositary may require. Upon return of a properly completed letter of transmittal, together with certificates representing common shares and such other information as requested by the depositary, certificates for the appropriate number of post-Consolidation common shares will be distributed without charge. Certificates for the post-Consolidation common shares issued to a Shareholder who provides the appropriate documentation described above, shall be registered in such name or names and will be delivered to such address or addresses as such holder may direct in the letter of transmittal as soon as practicable after the receipt by the Depositary of the required documents.
Non-registered shareholders holding their common shares through a bank, broker or other nominee should note that such banks, brokers or other nominees may have various procedures for processing the Share Consolidation. If a Non-registered shareholder has any questions in this regard, the shareholder is encouraged to contact its nominee.
“We had a record number of shares voted at this year's AGM receiving over 95% support for both the Name Change and the Consolidation. We’re pleased that the shareholders overwhelmingly supported our proposal. The Consolidation is an important step as we anticipate federal deregulation and look to attract long term focused institutional shareholders,” said Varghese.
About Chalice Brands
Chalice Brands is a premier consumer-driven cannabis company specializing in production, processing, wholesale, distribution, and retail, with twelve dispensaries in Portland, Oregon. The Company is committed to developing a dynamic portfolio built around the recognized brands of Chalice Farms, with a focus on health and wellness. Chalice Brands operates nationally through Fifth and Root and has operations in Oregon and California. Visit http://www.glhmonthly.com for regular updates.
Investor Relations:
John Varghese
Executive Chairman
Chalice Brands Ltd.
971-371-2685
ir@chalicebrandsltd.com
Golden Leaf Holdings Announces Closing of Transformational Acquisition of Retail Store Chain in Oregon
PORTLAND, Ore., May 19, 2021 (GLOBE NEWSWIRE) -- Golden Leaf Holdings Ltd. ( GLDFF
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) (“Golden Leaf,” “GLH” or the “Company”), operating as Chalice Brands, a premier, consumer-driven cannabis company specializing in retail, production, processing, wholesale and distribution, announces the signing of a definitive agreement today, May 19, and concurrent closing of the purchase of 100% ownership in SMS Ventures, LLC, dba Homegrown Oregon (“Homegrown”), a chain of five retail dispensaries located in Portland, Salem and Albany, Oregon, for total consideration of approximately US$9.75 million or 0.9 times Homegrown’s first quarter 2021 annualized revenue2. The added fact that Homegrown is profitable makes this a highly accretive acquisition for Golden Leaf ( GLDFF
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) earnings per share.
Transaction Highlights:
Total consideration of US$9.75 million, consisting of a US$6 million cash payment at closing, approximately 37 million common shares of the Company priced at a price of C$0.065, plus a secured promissory note for US$1.75 million carrying interest of 8% interest, payable over 48 months with interest only for the first year, with monthly principal payments to start upon the one-year anniversary of closing. Certain additional amounts may be due based on the market price of the Company's common shares.
For the quarter ended March 31, 2021, Homegrown reported unaudited gross revenues of US$2.7 million and Adjusted EBITDA1 of US$368,000.
On a pro-forma basis, had Homegrown been included, first quarter 2021 revenues for GLH would have been US$8.2 million with a 47% gross margin and Adjusted EBITDA1 of approximately US$722,000.
Homegrown’s first quarter 2021 revenue extrapolates to annualized revenue2 of US$10.8 million or 33% of GLH’s fiscal 2020 revenue and Adjusted EBITDA1 of US$1.5M, before realizing on potential benefits of operational synergies between the two organizations or factoring in GLH organic growth for 2021.
Store count in Oregon increases from seven to 12. Homegrown is expected to carry Chalice Brands products by Q4 2021, providing the opportunity to increase gross margins by between 5% and 10% in the newly acquired stores.
Total consideration of US$9.75 million represents 0.9 times 2021 Homegrown annualized revenue2 the quarter ended March 31, 2021 and is immediately accretive to GLH. To fund this acquisition, GLH raised C$10.5 million at a valuation of 3.2 times fiscal 2020 revenue.
Incremental shareholder value of C$43.0 million or C$0.032 per share at FY 2020 revenue multiples based on post transaction 1,355,125,275 shares outstanding3.
“Management is excited to combine with Homegrown and fully expects to continue its migration to better valuations for shareholders as we continue to execute our acquisition strategy. As part of our West Coast-focused growth strategy, we will continue to seek acquisitions like these to demonstrate that we are good allocators of capital,” noted John Varghese, Executive Chairman. “We will continue to grow our business with positive cash flow from both internal organic revenue growth with stringent cost containment. On the acquisition front, we have a growing funnel of actionable and accretive targets that we are assessing and will pursue in the near term.”
“We have been diligently searching for the appropriate footprint expansion for our retail business in Oregon that represented the right fit and to be in a position to fund the acquisition. Homegrown’s culture aligns perfectly within ours and provides an exceptional geographic compatibility with Chalice and offers an expansion into parts of Oregon in which Chalice does not operate currently. We have the ability to significantly increase vertical margin revenue through the distribution of our existing edibles and extraction manufacturing as well as our own grow,” noted Jeff Yapp, president and CEO of GLH. “Homegrown is a well-run retail operation with a very dedicated team at all five stores that we will continue to rely on as we go forward. The owners of Homegrown have been wonderful to work with during this process and will continue to assist us as we transition and integrate the business. Like GLH, Homegrown holds a deep commitment to prioritizing customer service with exceptional consumer transparency and building long-term relationships with people.”
“The completion of this transaction increases our retail store footprint to 12 locations in the state of Oregon, supported by our own award-winning cultivation operations, our production facilities in Portland and our internal wholesale team covering the state. Chalice has set a target to achieve 5% market share in Oregon while we grow in other markets. Homegrown helps us progress toward that goal,” added Mr. Yapp.
About Golden Leaf Holdings ( GLDFF
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):
Golden Leaf Holdings ( GLDFF
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), operating as Chalice Brands, is a premier consumer-driven cannabis company specializing in production, processing, wholesale, distribution and retail, with seven dispensaries in Portland, Oregon. The Company is committed to developing a dynamic portfolio built around the recognized brands of Chalice Farms, with a focus on health and wellness. GLH operates nationally through Fifth and Root and has operations in Oregon and California. Visit http://www.glhmonthly.com for regular updates.
Investor Relations:
John Varghese
Executive Chairman
Golden Leaf Holdings Ltd. ( GLDFF
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)
971-371-2685
ir@goldendxtrx.com
Media Contact:
Sidney Stewart
Wicked Creative
541-905-4613
ChaliceFarms@WickedCreative.com
This a first for me. Never seen something like this before. Looks like halt is only on CSE. *Finger Crossed*
Halted pending news ....
IIROC TRADING HALT - GLH
Canada NewsWire
, /CNW/ - The following issues have been halted by IIROC:
Company: Golden Leaf Holdings Ltd.
CSE Symbol: GLH
All Issues: Yes
Reason: At the request of the Company Pending News
Halt Time (ET):
IIROC can make a decision to impose a temporary suspension (halt) of trading in a security of a publicly-listed company. Trading halts are implemented to ensure a fair and orderly market. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in .
SOURCE Investment Industry Regulatory Organization of (IIROC) - Halts/Resumptions
View original content: http://www.newswire.ca/en/releases/archive/May2021/19/c0190.html
I like that the management is putting its money in along with us and the price they are paying is higher than it is now. At least that is how I read that notice.
Same document:
“ The Company is pleased to announce that it had a record 412,089,878 shares voted at this year’s Annual General Meeting and that we received over whelming support, in excess of 95% on all of the motions contained within its management information circular. Included in the approved motions approved was changing the name to "Chalice Brands Ltd." and to affect a 23 for 1 share consolidation. The Company anticipates setting the date for the share consolidation and name change shortly.”
so what happened at the agm? can't find any info in rs did it get voted down or was it approved. emailed company get no response.
Statement re: unaudited Q1 results:
"The Company also wishes to share preliminary unaudited first quarter 2021 results of US$5.5 million revenues and gross profit of US$2.5 million or 45% gross margin and adjusted EBITDA was positive for the quarter."
https://www.sedar.com/GetFile.do?lang=EN&docClass=8&issuerNo=00033830&issuerType=03&projectNo=03223042&docId=4963384
Looking forward to it. They have been busy, it will pay off
Usually a sign of good news when announcing
pre-market opening, and on a Tuesday.
https://www.globenewswire.com/news-release/2021/05/14/2230231/0/en/Golden-Leaf-Announces-Date-for-Release-of-First-Quarter-2021-Financial-Results-and-Provides-Corporate-Update.html
Good segment. I am betting on several companies with operations in Oregon and a couple of other “tough” states. My thinking is.... a company that can develop brands and products that can gain popularity in a saturated market with lots of competition will have no trouble at all sweeping through the country. There is a difference between legacy growers who are able to make good products in a competitive environment and one where bankers and ex cops have the idea this weed “thing” can make money. CPG, Brands and proprietary strains that stand out in a crowded market will beat lazy ditch weed that has never had any competition. Just my take on things. It will take time to see which ones have the best chance. I see Chalice Brands as a possible contender.
Ya, grow till that is taken care of. At least they are moving in the right direction :)
So I guess converting debentures will be the major overhang until it isn't ...
There are so many events happening at once it works for me to buy more when others are on robinhood. Their distraction is my opportunity. Im not in crypto, I buy the things people will buy regularly, whether with dollars or crypto, folks are willing to risk jail for weed.... in the long run which one succeeds?
What does the "market" want from these guys ???
Posting a profitable quarter after all they have been through isn't enough ??
I don't get it ...
Here's the SEDAR link with more info.
https://www.sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00033830
Today should hopefully be fun to watch.
Conference call information for tomorrow.
https://finance.yahoo.com/news/golden-leaf-report-fiscal-2020-213000496.html
Also, earnings report out next Tuesday. $GLDFF
U.S. House of Representatives approves cannabis banking bill
https://finance.yahoo.com/news/u-house-representatives-approves-cannabis-234329462.html
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