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Golden Leaf Issuing Shares to Settle a Debt

Yesterday it was announced that Golden Leaf Holdings Ltd. (OTC:GLDFF) (CSE:GLH) would be settling a debt by issuing shares. 

 

The Debt

 

Golden Leaf hired a consultant to secure funding and owes the consultant $50,000 CAD. This is equivalent to roughly $37,602 USD at current exchange rates. Instead of paying the consultant the $50,000 CAD, Golden Leaf will be issuing 150,000 shares of common stock at a deemed price of $0.33 CAD per share, equivalent to $0.25 USD. 

 

The Dilution 

 

150,000 shares is equivalent to less than 0.15 % of Golden Leaf's 100,253,574 issued and outstanding shares. Additionally, 150,000 is equivalent to less than 0.14% of Golden Leaf's 112,033,445 reserved for issuance.

 

Market Reaction

 

The news was released after 8:00 PM EST last night when the markets weren't trading. Today however, shares on the OTCQB and on the CSE are down below the deemed issuance price listed above. It is still early on in the trading day, and we will certainly be watching shares of Golden Leaf on both the OTC and CSE markets. 

 

Conclusion

 

For more information and recent coverage on Golden Leaf Holdings, check out their marijuana stock profile in our marijuana stocks database

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