Read the Beforeitsnews.com story here. Advertise at Before It's News here.
Profile image
By ProactiveInvestors (Reporter)
Contributor profile | More stories
Story Views
Now:
Last hour:
Last 24 hours:
Total:

True Leaf Brands poised to advance into new year as it completes amalgamation

% of readers think this story is Fact. Add your two cents.


True Leaf Brands Inc (CSE:MJ) (OTCPINK:TRLFF) (FRA:TLA) said Monday it had closed the previously announced amalgamation deal – the last step of its restructuring process – and appointed three board directors.

As reported last month, the group was set to emerge from creditor protection after closing a refinancing transaction.

READ: True Leaf Brands completes its successful restructuring; reacquires certain assets

This amalgamation was undertaken to reacquire True Leaf Cannabis Inc (TLC) and True Leaf Investments Corp (TLI), which had been acquired by the so-called ‘AcquisitionCos’ as part of True Leaf’s proposals to its creditors and restructuring.

The ‘AcquisitionCos’ were arm’s length and were owned by private investors.

“We are happy to put a difficult year behind us and ready to blaze a trail into an exciting 2021,” said True Leaf CEO Darcy Bomford on Monday.

Also in the statement on Monday, True Leaf announced that as part of the amalgamation, it will appoint Andrew Gordon, Nathan Lidder and Mahdi Shams to its board of directors, who bring ‘extensive’ cannabis-related corporate finance, legal, regulatory and communications experience.

The appointments are subject to the completion of required Health Canada security clearances, the company added. These appointees will serve on a newly formed advisory board to provide strategic advice.

True Leaf issued over 17.4 million post-consolidated shares at a deemed price of C$0.375 each to the shareholders of the AcquisitionCos.

It now holds over 28.7 million post-consolidated shares issued and outstanding. No new insiders or new control persons were created as a result of the transaction.

True Leaf Cannabis Inc is a licensed producer and owner of True Leaf Campus, an 18,000 square foot facility located on a 40-acre site zoned for the cultivation, processing, and sale of cannabis in Lumby, British Columbia.

Contact the author at [email protected]

Story by ProactiveInvestors



Source: https://www.proactiveinvestors.com/companies/news/936467/true-leaf-brands-poised-to-advance-into-new-year-as-it-completes-amalgamation-936467.html


Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Please Help Support BeforeitsNews by trying our Natural Health Products below!


Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST


Order by Phone at 888-809-8385 or online at https://www.herbanomic.com M - F 9am to 5pm EST


Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!

HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation

Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.

MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser!  Cleans out toxic buildup with oxygen! 
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover -  Reduces Smart Meter radiation by 96%!  (See Video)

Immusist Beverage Concentrate - Proprietary blend, formulated to reduce inflammation while hydrating and oxygenating the cells.

Report abuse
Loading...

    Comments

    Your Comments
    Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

    MOST RECENT
    Load more ...

    SignUp

    Login

    Newsletter

    Email this story
    Email this story

    If you really want to ban this commenter, please write down the reason:

    If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.