- Company has, to date, raised $41.5 million and has more than 2,400 shareholders
- Has one of the largest licensed land parcels in Canada, situated on 100 acres
- Offers organically grown, pesticide-free medical marijuana under Canada’s ACMPR
The Green Organic Dutchman Holdings Ltd. (“TGOD”), a Canadian company engaged in producing farm-grown, high-quality organic medical cannabis using craft growing, all natural, organic principles, announced on September 11 (http://dtn.fm/8GkWq) that it has entered into an agreement with a syndicate led by PI Financial Corp. to complete a private placement offering of units. The syndicate will offer, on a commercially reasonable effort basis, 4,242,500 units of the company at an issue price of C$1.65 per unit for aggregate gross proceeds of C$7,000,125.
TGOD will also concurrently engage in a non-brokered offering of 7,879,000 units, with each unit being offered at C$1.65 for aggregate gross proceeds of $13,000,350, under the same terms as the unit offering.
Each unit will consist of one common share of TGOD and one-half common share purchase warrant of the company. Each whole warrant is exercisable into one common share at the exercise price of $3.00 per share and has an expiration date that is either 36 months from the date the common shares begin trading on a recognized stock exchange or February 28, 2021, whichever is earlier.
TGOD plans to use the net proceeds of the unit offering and the non-brokered offering to advance its cannabis facilities in Ontario and Quebec, as well as for general working capital purposes.
A private producer of high-grade, organically grown and pesticide-free medical cannabis under the ACMPR, TGOD grows its marijuana in small batches, and its products are laboratory tested to ensure all recipient patients are provided with a standardized, safe and consistent product.
TGOD has a funded capacity of 14,000 kg and has one of the biggest licensed land parcels in Canada, situated on 100 acres. The company also recently secured a second 75-acre, fully serviced site near Montreal and is currently in the process of expanding its cultivation capacity to 116,000 kg and increasing its product offerings preparatory to recreational cannabis use becoming federally legal in Canada in 2018—something the Canadian government is currently making strides toward.
To date, TGOD has raised $41.5 million and has more than 2,400 shareholders.
For more information, visit the company’s website at www.TGOD.ca
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