The Green Organic Dutchman Holdings (TSX: TGOD) (OTCQX: TGODF),
a leading producer of premium, certified-organic cannabis, on Wednesday
announced the company’s entrance into an agreement with Canaccord Genuity Corp.
(the “underwriter”). The underwriter has agreed to purchase, on a bought deal
basis pursuant to the filing of a short form prospectus, a total of 37,500,000
units at a price of C$0.40 each, for total gross proceeds to TGODF of
approximately C$15 million. Each unit is comprised of one common share and one
common share purchase warrant of the company. Each warrant is exercisable to
acquire one common share at an exercise price of C$0.50 each for a period of 48
months from closing of the transaction. The company has granted the underwriter
an option to purchase up to an additional 5,625,000 units at a price of C$0.40
each, exercisable at any time, for a period of 30 days after and including the
closing date, which would result in additional proceeds of roughly C$2.25
million (the “over-allotment option”). The over-allotment option is exercisable
to acquire units, common shares and/or warrants at the underwriter’s
discretion. The units will be offered through a short form prospectus that will
be filed in all provinces of Canada, except for Quebec. The offering is
anticipated to close on June 9, 2020. Closing is subject to specific
conditions, such as the receipt of all required regulatory and stock exchange
approvals, and the approval of the TSX and the applicable securities regulatory
authorities. TGODF plans to utilize the proceeds from the offering toward general
corporate purposes.
To view the full press release, visit http://ibn.fm/bhgyD
About The Green Organic Dutchman Holdings Ltd.
The Green Organic Dutchman Holdings Ltd. (TSX: TGOD)
(US-OTC: TGODF) is a premium certified organic cannabis company focused on the
health and wellness market. Its certified-organic cannabis is grown in living
soil, as nature intended. The Company is committed to cultivating a better
tomorrow by producing its products responsibly, with less waste and impact on
the environment. Its two Canadian facilities have been built to LEED
certification standards and its products are sold in recyclable packaging. In
Canada, TGOD sells dried flower and oil, and recently launched a series of
next‐generation cannabis products such as organic teas, infusers and vapes.
Through its European subsidiary, HemPoland, the Company also distributes
premium hemp CBD oil and CBD-infused topicals in Europe. By leveraging science
and technology, TGOD harnesses the power of nature from seed to sale. For more
information, visit the company’s website at www.TGOD.ca.
NOTE TO INVESTORS: The latest news and updates
relating to TGODF are available in the company’s newsroom at http://ibn.fm/TGODF
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