The Green Organic Dutchman Holdings Ltd. (TSX: TGOD) Completes Successful IPO

  • Company completes IPO for total gross proceeds of more than $115 million
  • Common shares, as well as common share purchase warrants, commenced trading on the Toronto Stock Exchange today
  • Aurora Cannabis exercised full participation right for IPO on a pro-rata basis

The Green Organic Dutchman Holdings Ltd. (TSX: TGOD), a research and development company licensed under Canada’s Access to Cannabis for Medical Purposes Regulations (ACMPR) to cultivate medical cannabis, this morning announced the completion of its initial public offering and commenced trading on the Toronto Stock Exchange. The company’s IPO consisted of 31.51 million units priced at $3.65 per unit, generating gross proceeds of more than $115 million.

Aurora Cannabis Inc. (TSX: ACB) (OTCQX: ACBFF), a fellow ACMPR licensed producer and established leader in Canada’s burgeoning cannabis space, accounted for roughly 17.5 percent of the IPO issue, investing $23.1 million in exchange for 6.3 million units and exercising its full participation right on a pro-rata basis. This investment comes just months after Aurora announced the completion of a $55 million investment in TGOD and entered a supply contract providing Aurora with the right to purchase up to 20 percent of the annual production of organic cannabis from TGOD’s cultivation facilities.

TGOD is currently focused on the renovation of its existing greenhouse facilities in Ancaster, Ontario, and Valleyfield, Quebec. In January, the company detailed plans for an expansion of its 970,000 sq. ft. state-of-the-art, ultra-high technology hybrid greenhouse facilities that is expected to create “one of the largest and most technologically advanced cannabis production facilities in the world, producing ultra-low cost, premium-quality organic cannabis.”

In late afternoon trading, TGOD’s shares were up about 10 percent on volume of more than 8.4 million.

For more information, visit the company’s website at www.TGOD.ca

More from NetworkNewsWire

About NetworkNewsWire

NetworkNewsWire (NNW) is a financial news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with NNW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.

For more information, please visit https://www.networknewswire.com

Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer

NetworkNewsWire (NNW)
New York, New York
www.networknewswire.com
212.418.1217 Office
Editor@NetworkNewsWire.com

Archives

Select A Month

NetworkNewsWire Currently Accepts

Bitcoin

Bitcoin

Bitcoin Cash

Bitcoin Cash

Doge Coin

Dogecoin

Ethereum

Ethereum

Litecoin

Litecoin

USD Coin

USD Coin

Contact us: 212.418.1217