Cannabis-focused research and development company The Green Organic Dutchman Holdings Ltd. (TSX: TGOD) this morning announced that it has issued an additional 4,726,500 units at C$3.65 per over-allotment unit, raising additional aggregate gross proceeds of C$17,251,725. After taking into account this over-allotment option, TGOD will have raised aggregate proceeds of more than C$132.2 million through its recently completed IPO by issuing an aggregate of 36,236,500 units of the company. “We are extremely pleased with the markets’ support of our IPO, which is the largest to date on the TSX in the cannabis space,” Robert Anderson, co-chairman and CEO of TGOD, stated in the news release. “The additional funds will support the Company’s plans of becoming the world’s leading brand of organic cannabis. The further investments by Aurora Cannabis Inc. (“Aurora”) (TSX: ACB) in both the IPO and the Over-Allotment Option bring Aurora’s total investment in the Company to $78,145,562 and further validate TGOD’s business plan and value.”
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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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