Gold Leaf Holding Ltd. (OTCMKTS:GLDFF) has announced the election of new Board of Directors during the
annual shareholder meeting held on June 25, 2019. The cannabis company that
focuses on cultivation production, as well as retail operations of recognized
brands, elected Rick Miller, Alex Winch, Bob McKnight, Larry Martin, Gary
Zipfel, and John Varghese.
Election of the new board of directors
During a Board
of Directors meeting held after the shareholders meeting the board elected Rick
Miller to be the Chairman of the Gold Leaf Holdings Board. The election came
days after the Board of Directors appointed Join Varghese as the Interim
President and CEO of Gold Leaf holdings following the departure of Ms. Barsa.
The search for a new CFO and CEO is currently ongoing. Varghese will lead the
company through the transition and corporate assessment process.
Debentures meeting to amend the term of debenture
During a meeting
of the holders of those debentures that will be maturing in November 2, 2019
that was equally held on June 25, 2019 the holders approved an amendment to the
term of the debenture indenture that allows Gold Leaf Holdings to transfer,
sell or dispose its corporate assets that are estimated to have an aggregate
value of around C$2 million in any 12-month duration.
However, this is
subject to whether the assets will be determined to be in reasonably
unproductive, not profitable and either strategically unnecessary to the
company. Gold leaf Holdings requested for the amendment so that the company can
be in a better position to quickly facilitate the disposition of all
unproductive, strategically unnecessary as well as unprofitable assets.
Holdings has multiple cannabis operations in various regions across Canada as
well as Nevada and Oregon. The company focuses on cannabis cultivation,
production as well as retailing of some of the recognized cannabis brands. The
company supplies its cannabis products via its proprietary Chalice Farms retail
dispensaries and other third-party dispensaries. The products and retail
operations of the company are designed to offer amazing customer experiences by
focusing on quality products and excellent in-store experience.