Cannabis-focused research and development company The Green Organic Dutchman Holdings Ltd. (TSX: TGOD) this morning announced that it has successfully completed an initial public offering of 31.51 million units for total gross proceeds of more than $115 million. Each unit consists of one common share and one-half of one common share purchase warrant. Each warrant is exercisable into one common share of the company at the price of $7.00 per share for a period of two years, subject to an acceleration right. Per the update, Aurora Cannabis Inc. (TSX: ACB) (OTCQX: ACBFF) elected to exercise its full participation right in the IPO on a pro-rata basis. Aurora purchased roughly 17.5 percent of the IPO issue, or 6.3 million units, for a total investment of $23.1 million. Following completion of this IPO, the common shares and common share purchase warrants issued by The Green Organic Dutchman commenced trading on the Toronto Stock Exchange under the trading symbols ‘TGOD’ and ‘TGOD.WT’, respectively.
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About the Green Organic Dutchman Holdings Ltd.
The Green Organic Dutchman Holdings Ltd. (TSX: TGOD) is a research & development company licensed under the Access to Cannabis for Medical Purposes Regulations (“ACMPR”) to cultivate medical cannabis. The Company carries out its principal activities producing cannabis from its facilities in Ancaster, Ontario, pursuant to the provisions of the ACMPR and the Controlled Drugs and Substances Act (Canada) and its regulations. The Company grows high quality, organic cannabis with sustainable, all-natural principles. TGOD’s products are laboratory tested to ensure patients have access to a standardized, safe and consistent product. TGOD has a funded capacity of 116,000 kg and is building 970,000 sq. ft. of cultivation facilities in Ontario and Quebec. For more information, visit the company’s website at www.TGOD.ca
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