Golden Leaf Holdings (CSE: GLH) (OTCQB: GLDFF) today announced that, pursuant to the shareholder approval obtained at its annual and special meeting (“AGM”) held on May 10, 2021, the company is enacting the consolidation of its common shares on the basis of one (1) post-consolidation common share for every twenty-three (23) pre-consolidation common shares (the “consolidation”), as well as the change of its name from “Golden Leaf Holdings Ltd.” to “Chalice Brands Ltd.” (the “name change”). According to the update, the consolidation and name change will take effect on Tuesday, May 25, 2021, and the company’s common shares will commence trading on a post-consolidation basis under the new name and under the symbol “CHAL” on the Canadian Securities Exchange at the open of trading on May 20, 2021. The company will soon receive a new symbol for the OTCQB and will announce separately. “Management believes the acquisition of Homegrown as announced on May 19, 2021, represents a transformative event for Chalice, making this the right inflection point to embark on the name change and consolidation,” said John Varghese, executive chairman of Chalice Brands Ltd. “As noted in that release, we raised sufficient capital to fund this accretive acquisition. Combined with the fact that Homegrown is cash flow positive, the company will be able to generate positive cash flow to fund operations.”
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About Chalice Brands Ltd.
Chalice Brands is a premier consumer-driven cannabis company specializing in production, processing, wholesale, distribution and retail, with 12 dispensaries in Portland, Oregon. The company is committed to developing a dynamic portfolio built around the recognized brands of Chalice Farms with a focus on health and wellness. Chalice Brands operates nationally through Fifth and Root and has operations in Oregon and California. Visit www.GLHMonthly.com for regular updates.
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