The Toronto Stock Exchange reports that The Green Organic Dutchman Holdings Ltd. will spin off its subsidiary, TGOD Acquisition Corp. and will provide warrants to purchase securities of TGOD Acquisition to its shareholders.
According to the TSX, Canadian shareholders of the company may elect to receive 0.15 unit warrant of TGOD Acquisition for every common share of Green Organic held. Each TGOD Acquisition unit warrant will entitle the holder to buy one unit of TGOD Acquisition at 50 cents per unit for 30 days following the completion of the plan of arrangement. The TSX notes that non-resident shareholders will receive a cash payment net of any applicable withholding taxes following a sale of their respective TGOD Acquisition units by an independent custodian following the distribution.
The TSX reports that the record date for the distribution is Jan. 31, 2019, and the ex distribution date is Jan. 30, 2019. In order to receive unit warrants of TGOD Acquisition, shareholders of the company must complete and return the election form by Feb. 22, 2019. Shareholders who do not complete and submit the election form by the election deadline will not receive the unit warrants.
For more information, see the company's management information circular dated Nov. 7, 2018, and its news release dated Jan. 24, 2019, available on SEDAR.
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