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Posted On: 05/21/2020 3:37:04 PM
Post# of 179
NetworkNewsBreaks – The Green Organic Dutchman Holdings Ltd. (TSX: TGOD) (OTCQX: TGODF) Announces Bought Deal Public Offering with Over-Allotment Option
The Green Organic Dutchman Holdings (TSX: TGOD) (OTCQX: TGODF), a leading producer of premium, certified-organic cannabis, on Wednesday announced the company’s entrance into an agreement with Canaccord Genuity Corp. (the “underwriter”). The underwriter has agreed to purchase, on a bought deal basis pursuant to the filing of a short form prospectus, a total of 37,500,000 units at a price of C$0.40 each, for total gross proceeds to TGODF of approximately C$15 million. Each unit is comprised of one common share and one common share purchase warrant of the company. Each warrant is exercisable to acquire one common share at an exercise price of C$0.50 each for a period of 48 months from closing of the transaction. The company has granted the underwriter an option to purchase up to an additional 5,625,000 units at a price of C$0.40 each, exercisable at any time, for a period of 30 days after and including the closing date, which would result in additional proceeds of roughly C$2.25 million (the “over-allotment option”). The over-allotment option is exercisable to acquire units, common shares and/or warrants at the underwriter’s discretion. The units will be offered through a short form prospectus that will be filed in all provinces of Canada, except for Quebec. The offering is anticipated to close on June 9, 2020. Closing is subject to specific conditions, such as the receipt of all required regulatory and stock exchange approvals, and the approval of the TSX and the applicable securities regulatory authorities. TGODF plans to utilize the proceeds from the offering toward general corporate purposes.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
The Green Organic Dutchman Holdings (TSX: TGOD) (OTCQX: TGODF), a leading producer of premium, certified-organic cannabis, on Wednesday announced the company’s entrance into an agreement with Canaccord Genuity Corp. (the “underwriter”). The underwriter has agreed to purchase, on a bought deal basis pursuant to the filing of a short form prospectus, a total of 37,500,000 units at a price of C$0.40 each, for total gross proceeds to TGODF of approximately C$15 million. Each unit is comprised of one common share and one common share purchase warrant of the company. Each warrant is exercisable to acquire one common share at an exercise price of C$0.50 each for a period of 48 months from closing of the transaction. The company has granted the underwriter an option to purchase up to an additional 5,625,000 units at a price of C$0.40 each, exercisable at any time, for a period of 30 days after and including the closing date, which would result in additional proceeds of roughly C$2.25 million (the “over-allotment option”). The over-allotment option is exercisable to acquire units, common shares and/or warrants at the underwriter’s discretion. The units will be offered through a short form prospectus that will be filed in all provinces of Canada, except for Quebec. The offering is anticipated to close on June 9, 2020. Closing is subject to specific conditions, such as the receipt of all required regulatory and stock exchange approvals, and the approval of the TSX and the applicable securities regulatory authorities. TGODF plans to utilize the proceeds from the offering toward general corporate purposes.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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