The Green Organic Dutchman Holdings Ltd. (the “Company” or “TGODH“) is pleased to announce that it has entered into an agreement with a syndicate (the “Syndicate“) led by PI Financial Corp. (“PI“) to complete a private placement offering of units (the “Units“). The Syndicate will offer on a commercially reasonable effort basis 4,242,500 Units of the Company (the “Unit Offering“) at a price of C$1.65 per Unit (the “Issue Price“) for aggregate gross proceeds of C$7,000,125 or such other amount as mutually agreed upon by the Company and PI.
Concurrent with the Unit Offering, the Company will engage in a non-brokered offering of 7,879,000 Units (the “Non-Brokered Offering“) with each Unit being offered at C$1.65 for aggregate gross proceeds of $13,000,350. The Units offered pursuant to the Non-Brokered Offering will have the same terms as the Units offered pursuant to the Unit Offering.
Each Unit will consist of one common share of the Company (a “Common Share“) and one-half common share purchase warrant of the Company (a “Warrant“). Each whole Warrant is exercisable into one Common Share (the “Warrant Share“) at the exercise price of $3.00 per share and has an expiry date that is the earlier of (a) 36 months from the date the Common Shares commence trading on a recognized stock exchange (the “Listing Date“), and (b) February 28, 2021. The Company will make all reasonable efforts to ensure the Warrants are listed on the same exchange on which the Common Shares are listed.
The Common Shares comprising part of the Units will be subject to a six (6) month contractual escrow period from the Listing Date. The Common Shares issuable upon the exercise of the Warrants will be subject to a twelve (12) month contractual escrow period from the Listing Date.
The Company intends to use the net proceeds of the Unit Offering and the Non-Brokered Offering to advance the Company’s cannabis facilities in Ontario and Quebec, and for general working capital purposes.
Investors looking to learn more about TGOD may visit the Company’s Investor Centre at https://tgod.ca/investor-centre/ or contact the Company at email@example.com; and patients may now register for the Company’s beta patient program at https://tgod.ca/patients/
ABOUT THE GREEN ORGANIC DUTCHMAN LTD.
The Green Organic Dutchman Ltd. grows high quality, organically grown, pesticide-free medical cannabis in small batches using craft growing, all-natural principles. TGOD’s. products are laboratory tested to ensure patients have access to a standardized, safe and consistent product.
The Green Organic Dutchman Ltd. has a funded capacity of 14,000KG’s. Situated on 100 acres of land, this gives TGOD one of the largest licensed land parcels in Canada. To date, the Company has raised $41.5 million dollars and has over 2,400 shareholders.