- The Green Organic Dutchman Holdings Ltd. (TGOD) has closed a $5.08 million marketed public offering of its units
- The company issued approximately 12.7 million units under the offering for a price of $0.40 per unit
- The net proceeds will be used for working capital, general corporate purposes, and to repay previously sustained payables
- The Green Organic Dutchman recently merged with BZAM Holdings Inc., which also participated in the offering of 7.5 million units
- The Green Organic Dutchman Holdings Ltd. (TGOD) is up 6.68 per cent and is trading at $0.31 per share as of 12:05 p.m. EST
Canadian cannabis producer, The Green Organic Dutchman Holdings (TGOD), has closed a $5.08 million marketed public offering of units.
The company issued approximately 12.7 million units under the offering for a price of $0.40 per unit. Each unit included one common share and one common share purchase warrant in the company’s capital.
Each warrant allows the holder to purchase one common share at an exercise price of $0.50 for a period of five years as of Monday.
The net proceeds from the offering are expected to be used for working capital, general corporate purposes, and to repay previously sustained payables. This includes post-merger integration costs that are expected to yield future cost savings.
The Green Organic Dutchman recently merged with BZAM Holdings Inc., another cannabis-producing company, which also participated in the offering. BZAM is already the largest shareholder of the company and subscribed to the offering for a total of 7.5 million units for a payment of $3 million.
The Green operates facilities in British Columbia, Alberta, Ontario and Quebec, Manitoba, and Saskatchewan. It is continuing to expand its offerings to a growing number of consumers across Canada.
The Green Organic Dutchman Holdings Ltd. (TGOD) is up 6.68 per cent and is trading at $0.31 per share as of 12:05 p.m. EST.