Cannabis-focused research and development company The Green Organic Dutchman Holdings Ltd. (TSX: TGOD) (OTCQX: TGODF) this morning announced that it has signed a definitive agreement to acquire 100% of the issued and outstanding shares of HemPoland in an immediately accretive cash and share transaction. HemPoland is a European manufacturer and marketer of premium organic CBD oils. In addition to providing the company with a route into the European market, this strategic acquisition gives TGOD access to HemPoland’s immense distribution network, premium Cannabigold brand and advanced hemp oil extraction technologies. The acquisition cost is comprised of $7.75 million in cash and 1,968,323 restricted TGOD shares presently worth $7.75 million, with an additional $10.3 million cash investment for rapid European expansion. The closing of this transaction is subject to customary closing conditions and the approval of the Toronto Stock Exchange.
“HemPoland is a key component to a number of strategic acquisitions and planned partnerships focused on expanding our global distribution network. This acquisition will significantly add to the company’s top and bottom line,” The Green Organic Dutchman CEO Brian Athaide stated in the news release. “Gaining market share with CBD products now, in the EU, with over 700 locations allows TGOD to establish immediate brand awareness across all verticals including infused beverages. This is an accretive acquisition and gateway to Europe’s 750 million people accelerating our plan of becoming the world’s largest organic cannabis brand.”
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About The Green Organic Dutchman Holdings Ltd.
The Green Organic Dutchman Holdings Ltd. 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, Ont., 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 170,000 kg and is building 1,382,000 sq. ft. of cultivation facilities in Ontario, Quebec and Jamaica. The Company has developed a strategic partnership with Aurora Cannabis Inc. (TSX: ACB) whereby Aurora has invested approximately C$78.1 million for an approximate 17.5% stake in TGOD. In addition, the Company has raised approximately C$350 million and has over 20,000 shareholders. TGOD’s Common Shares and warrants issued under the indenture dated November 1, 2017 trade on the TSX under the symbol “TGOD” and “TGOD.WT”, respectively. For more information, visit the company’s website at www.TGOD.ca
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