Mr. Robert Anderson reports
NOTICE OF ACCELERATED WARRANT EXPIRY
The Green Organic Dutchman Holdings Ltd. has elected to accelerate the expiry of the certain warrants of the company issued under the warrant indenture dated March 24, 2017, expiring March 24, 2019, pursuant to the $1.15 private placement that closed in March, 2017.
The warrants will now expire at 4 p.m. Eastern Time on July 6, 2018. Each warrant entitles the holder to purchase one common share of the company at a price of $2.15 per share.
Pursuant to Section 2.2(5) of the warrant indenture, the company has the right to accelerate the expiry date of the warrants in the event that the volume-weighted average trading price of the company's common shares is equal to or exceeds $2.80 for a period of 10 consecutive trading days on the Toronto Stock Exchange.
This press release constitutes notice that the acceleration event has occurred, and the company has elected to accelerate the expiry date of the warrants in accordance with the terms of the warrant indenture to the date that is 30 days after the date hereof, being July 6, 2018. This notice only affects warrants issued under the warrant indenture dated March 24, 2017, and not any other warrant indenture pursuant to which the company has issued warrants.
Investors should note that pursuant to Section 3.3(5) of the warrant indenture, all shares that are issued pursuant to exercise of the warrants are subject to a contractual escrow hold period and cannot be traded until May 2, 2019, and accordingly, the shares shall bear such a restrictive legend.
Warrantholders may exercise their rights to acquire common shares
on or before 4 p.m. Eastern Time on July 6, 2018,
by observing the process as set out in the warrant indenture and the reverse-side of the warrant certificates. Warrant exercises in good order must be received, along with a certified cheque, bank draft or money order payable to "The Green Organic Dutchman Holdings Ltd." for the exercise price in Canadian dollars only, by the warrant agent at: Computershare Trust Company of Canada (attention: corporate action), at third floor, 510 Burrard St., Vancouver, B.C., V6C 3B9, by no later than 4 p.m. Eastern Time on July 6, 2018, failing which the warrants will expire.
About The Green Organic Dutchman Holdings Ltd.
The Green Organic Dutchman Holdings 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.
The company grows high-quality, organic cannabis with sustainable, all-natural principles. It has a financed capacity of 116,000 kilograms and is building 970,000 square feet of cultivation facilities in Ontario and Quebec.
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