NOT FOR DISTRIBUTION INTO THE UNITED STATES OR TO UNITED STATES WIRE SERVICES
HAMILTON, Ontario, Oct. 31, 2017 (GLOBE NEWSWIRE) -- Further to the press release dated October 5th, 2017, The Green Organic Dutchman Holdings Ltd. (the “Company” or “TGOD”) is pleased to announce a further increase to its non-brokered offering (the “Offering”) of 3,636,050 units (“Units”) at the price of $1.65 per Unit, for total aggregate gross cash proceeds of $36,000,112 from both the Offering and the concurrent brokered offering.
The Company will provide investors with an offering memorandum (the “OM”), which will allow non-accredited investors across Canada and international jurisdictions to participate in the Offering.
“From day one we have implemented an inclusive ‘retail first’ approach at TGOD, and this financing is a continuation of that effort. This OM allows non-accredited retail investors the unique opportunity to become shareholders of our Company before our Initial Public Offering,” stated Danny Brody, Vice President of Investor Relations.
The terms of the Offering remain unchanged, with each Unit consisting 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 Warrant 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 Company intends to use the net proceeds of the 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 invest@tgod.ca; and patients may now register for the Company’s beta patient program at https://tgod.ca/patients/.
ABOUT THE GREEN ORGANIC DUTCHMAN HOLDINGS LTD.
The Green Organic Dutchman Holdings Ltd. produces Farm Grown, Pharma Grade Organic Cannabis.
The Company grows high quality, pesticide-free organic medical cannabis with sustainable, all natural principles. The Green Organic Dutchman Holdings Ltd. products are laboratory tested to ensure patients have access to a standardized, safe and consistent product.
The Green Organic Dutchman Holdings Ltd. has a funded capacity of 14,000 kg and is situated on 175 acres of land between two of the most populated areas of Canada: Ontario & Quebec. TGOD owns one of the largest land packages in Canada with some of the lowest power rates in the country. The Company will have a combined 970,000 sq. ft. facility capable of producing 116,000 kg of pesticide free, premium quality, organic cannabis. To date, the Company has raised $41.5 million and has over 2,400 shareholders.
The Green Organic Dutchman Holdings Ltd. is licensed under the Access to Cannabis for Medical Purposes Regulations (“ACMPR”) to cultivate medical cannabis. The Green Organic Dutchman Holdings Ltd. carries out its principal activities producing cannabis from its facilities in Ancaster, Ont., pursuant to the provisions of the ACMPR and the Controlled Drugs and Substances Act (Canada) and its regulations.
This news release contains forward-looking information, which includes known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectations. Important factors -- including the availability of funds, the results of financing efforts and the parties' due diligence reviews, and general market conditions -- that could cause actual results to differ materially from the Company's expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.