Green Organic Dutchman closes new financing round
The cannabis heavyweight is raising almost $ 13 million.
Green Organic Dutchman Holdings has announced that it has completed its previously announced short prospectus offer based on a purchased deal, including the full exercise of the underwriter's over-allotment option. A total of 53,263,400 units of the Company (the "Units") have been issued (the "Offering") at a price per unit of $ 0.24 with total gross proceeds of approximately $ 12.75 million. The offer was made by Canaccord Genuity Corp. carried out. Each Unit consists of one common share (each a "Common Share") and three quarters of the Company's common stock purchase guarantee (each whole common stock purchase guarantee is a "Warrant").
Each warrant entitles the holder to purchase one common share of the Company at an exercise price of C $ 0.30 per warrant for a period of 60 months after the closing of the transaction. The warrants trade under the symbol "TGOD.WA". The company will use the proceeds from the offering to repay debt previously incurred in building its facilities in Ancaster, Ontario and Valleyfield, Quebec, as well as other liabilities. About The Green Organic Dutchman Holdings Ltd. Green Organic Dutchman Holdings Ltd. (TSX: TGOD) (US-OTC: TGODF) is a premium certified organically grown cannabis company focused on the health and wellness market. Its 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 less impact on the environment. Its two Canadian facilities were built to LEED certification standards and its products are sold in recyclable packaging. In Canada, TGOD sells dried flowers and oil and has recently launched a line of next generation cannabis products such as organic teas, dissolvable products and vapes. The company also sells high-quality hemp CBD oil and CBD-infected topical products in Europe through its European subsidiary HemPoland. Leveraging science and technology, TGOD harnesses the power of nature from seed to sale.