Golden Leaf Signs Definitive Agreements to Acquire Chalice Farms

Golden Leaf Holdings (CSE:GLH; OTCQB:GLDFF) entered into definitive agreements in connection with and the closing of its previously announced acquisition of the business of Chalice LLC, a vertically integrated cannabis company in Oregon.
As quoted in the press release:

Pursuant to the Acquisition, GLH has acquired all of the issued and outstanding membership interests of CFA Retail, LLC and all of the assets of CFA Productions, LLC, each a wholly-owned subsidiary of Chalice Farms. In connection with the Acquisition, the vendors will receive consideration from GLH comprised of, (i) US$19.25 million in cash and (ii) 83,418,687 common shares of the Company (“Common Shares”). In addition, Chalice Farms will also receive an amount equal to 1.25 times the revenues of the businesses being acquired for the year-ended December 31, 2017 payable in cash or Common Shares, subject to an obligation to pay in cash in certain circumstances. Following completion of the Acquisition, the former owners of Chalice Farms will collectively own approximately 28% of the outstanding Common Shares of the Company. In connection with the closing of the Acquisition, William Simpson of Chalice Farms has also been appointed President of GLH.

Click here to read the full press release.

Source: www.marketwired.com