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Golden Leaf raises C$35M to fund acquisitions, plans more offerings

Golden Leaf Holdings Ltd. closed its private placement of 125,892,857 subscription receipts at 28 Canadian cents apiece for gross proceeds of about C$35.2 million.

The Canadian cannabis oil solutions company plans to use the net proceeds for funding acquisitions and existing operations.

Canaccord Genuity Corp. was the lead agent for a group of agents including Echelon Wealth Partners Inc. and Mackie Research Capital Corp. AC Group Financial Inc. was advisor to the company for the offering.

Golden Leaf is also planning to raise up to C$5.0 million through one or more private offerings of company units. Each unit will comprise 1 common share and 0.5 warrant. It intends to close the first offering in the next few weeks.