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Golden Leaf closes bought deal offering

Golden Leaf Holdings Ltd. raised gross proceeds of about C$17.5 million through its previously announced, upsized offering of units.

The Portland, Ore.-based cannabis products company sold 38,980,000 units for 45 Canadian cents each, on a private placement bought deal basis. Additionally, underwriters fully exercised their overallotment option to subscribe for 5,580,000 units.

Each unit comprised 1 common share and a 24-month warrant to buy 1 additional share for 55 cents.

Golden Leaf plans to use net proceeds for strategic growth initiatives and general working capital purposes.

Canaccord Genuity Corp. led the offering.