Golden Leaf Holdings Ltd (OTCMKTS:GLDFF) has announced the successful restructuring of deal terms with Tahoe Hydroponics Company and 11T Corp (collectively called ‘Tahoe’). Golden Leaf will benefit from savings of C$22.4 million in the new accord.

As per the modified agreement, Golden Leaf will pay a sum of U$25 million to acquire California and Nevada Assets of Tahoe. The company is agreed to pay US$4.0 million in cash. The balance proceeds of the deal will be adjusted with a stock of Golden Leaf.

Stock Component in the Revised Accord

As per the terms of the deal, Golden Leaf will issue stocks worth US$12.3 million. The stock price is calculated considering 60-day weight average before November 20, 2018. The company will complete the stock deal within 10 calendar days after the declaration of audited financial statements of Tahoe.

The company will complete the stock issue in two parts. The first chunk of issuance of common stock worth US$8.7 million will be issued after Tahoe achieving the expected revenues for Q4, 2018; Q1, Q2 of 2019. Golden Leaf will issue second part after Tahoe achieves expected earnings and net income in Q3, Q4, 2019. If Tahoe fails to achieve the set revenues and net income, the company will apply a sliding scale to a pre-decided threshold. The takeover of Tahoe will help Golden Leaf to establish a footprint in California and Nevada markets.

Golden Leaf Holdings Ltd Signs An Accord to Merge with Terra Tech Corp (OTCMKTS:TRTC)

Terra Tech Corp (OTCMKTS:TRTC) has entered into a merger pact with Golden Leaf Holdings Ltd. As per the terms of the deal, Terra Tech Corp’s wholly owned subsidiary will be merged with Golden Leaf Holdings Ltd.

As per the terms of the Letter of Intent, 0.1203 shares of TRTC will be issued to the shareholders of Golden Leaf for every share. The deal is subject to the approval of board directors of Golden Leaf and TRTC and regulators. Following the merger, TRTC will expand its business operations in the US. The merged entity will have 41 permits in Nevada and California covering the production, cultivation, distribution, and marketing of Cannabis.