TGOD closes C$12.65 million firmly underwritten offering
On December 10, 2020, The Green Organic Dutchman Holdings Ltd. ("TGOD") announced that it closed its previously announced prospectus offering, on a firmly underwritten basis, including the full exercise of the underwriters' over-allotment option.
A total of 45,178,900 units were issued at a price per unit of C$0.28 for aggregate gross proceeds of approximately C$12.65 million. Each unit is comprised of one common share and one common share purchase warrant of TGOD. Each warrant entitles the holder to acquire one common share for a period of 60 months from closing of the offering at an exercise price of C$0.35 per warrant.
The offering was conducted by Canaccord Genuity Corp. and Mackie Research Capital Corporation.
TGOD intends to use the net proceeds of the offering for working capital and general corporate purposes.
Further information can be found on Canada Newswire’s website.
The Green Organic Dutchman Holdings is a premium certified organically grown cannabis company focused on the health and wellness market. Its organic cannabis is cultivated in living soil, as nature intended.