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Green Organic Dutchman Holdings Ltd (The)
Symbol TGOD
Shares Issued 28,000,000
Close 2018-05-02 C$ 3.89
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Green Organic Dutchman closes $115.01M IPO

2018-05-02 08:41 ET - News Release

Mr. Robert Anderson reports


The Green Organic Dutchman Holdings Ltd. has successfully completed an initial public offering of 31.51 million units of the company at a price of $3.65 per unit for total gross proceeds of $115,011,500. Each unit consists of one common share and one-half of one common share purchase warrant. Each warrant is exercisable into one common share at the price of $7 per common share for a period of two years from today, subject to an acceleration right whereby the company may provide written notice to the registered holders of the warrants that the expiry time of the warrants shall be accelerated to a date which is 30 days after the date of such warrant acceleration notice, if, at any time, the volume-weighted average trading price for the common shares is equal to or greater than $9 for any 10-consecutive-trading-day period.

The common shares as well as the common share purchase warrants it issued pursuant to a warrant indenture dated Nov. 1, 2017, will begin trading today under the trading symbols TGOD and TGOD.WT, respectively, on the Toronto Stock Exchange.

Aurora Cannabis Inc. has elected to exercise its full participation right on a pro rata basis.

The offering was made through a syndicate of agents co-led by Canaccord Genuity Corp., as sole bookrunner, and PI Financial Corp., and including Industrial Alliance Securities Inc., INFOR Financial Inc., Echelon Wealth Partners Inc. and Mackie Research Capital Corp. The company has granted the agents an overallotment option, exercisable in whole or in part, for a period of 30 days following the closing of the offering, to purchase up to an additional 4,726,500 units at $3.65 per unit, 4,726,500 common shares at the price of $3.62 per share or 2,363,250 warrants at the price of six cents per warrant, or any combination thereof.

About the Green Organic Dutchman Holdings Ltd.

The Green Organic Dutchman Holdings Ltd. is a research and 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.

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