GLDFF - Golden Leaf inks LOI to acquire retail chain

Golden Leaf (GLDFF) signed a non-binding letter of intent to acquire a multi store chain in the Northwest Oregon.These stores are expected to generate at least $10M in annual run rate revenue (based on unaudited January 2021 results) and had a net operating margin of 11% (unaudited) during FY20.Currently, the company expects acquisition consideration will consist of a mix of cash, common shares and a promissory note.Funds raised from recent private placement to be used for funding the cash portion of the purchase price for these stores."The acquisition of this retail chain will be transformative for GLH, as it would further cement us as a leader in the Oregon market. The company expects this transaction to be accretive on close, as we will achieve tremendous synergy with our effort and current footprint and the introduction of our market-leading Chalice brand products," CEO Jeff Yapp commented.

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Golden Leaf inks LOI to acquire retail chain