TGOD Announces New Bought Deal

Cannabis Investing News

The Green Organic Dutchman Holdings announced an agreement for a bought deal basis worth over 10 million units of the company at a price of C$6.85, for total proceeds of over C$75 million.

The Green Organic Dutchman Holdings (TSX:TGOD) announced an agreement for a bought deal basis worth over 10 million units of the company at a price of C$6.85, for total proceeds of over C$75 million.

As quoted in the press release:

Each Unit will consist of one common share of the Company (a “Common Share”) and one Common Share purchase warrant (each whole Common Share purchase warrant, a “Warrant”). Each Warrant will be exercisable to acquire one Common Share (a “Warrant Share”) for a period of 30 months following the closing of the Offering (the “Closing”) at an exercise price of $9.00 per Warrant Share.

The Company has granted the Underwriter an option (the “Over-Allotment Option”), to purchase up to an additional 1,642,500 Units at a price of C$6.85 per Unit, exercisable at any time, for a period of 30 days after and including the Closing Date. The Over-Allotment Option is exercisable to acquire Units, Common Shares and/or Warrants (or any combination thereof) at the discretion of the Underwriter.

The net proceeds of the Offering will be used for the Company’s international expansion initiatives and general corporate purposes.

Click here to read the full press release.

Source: www.newswire.ca

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