NetworkNewsBreaks – The Green Organic Dutchman H
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Posted On: 10/25/2018 4:30:46 PM
NetworkNewsBreaks – The Green Organic Dutchman Holdings Ltd. (TSX: TGOD) (OTCQX: TGODF) Details Definitive Agreement for TGOD Acquisition Corp. Spin-off
Cannabis-focused research and development company The Green Organic Dutchman Holdings Ltd. (TSX: TGOD) (OTCQX: TGODF), alongside wholly owned subsidiary TGOD Acquisition Corporation (“SpinCo”), this morning announced entry into a definitive agreement pursuant to which the company will move forward with the previously announced spin-off transaction, subject to the terms and conditions of the arrangement agreement.
Per the update, TGOD will distribute to its shareholders unit purchase warrants of SpinCo by way of a court-approved plan of arrangement. Pursuant to the arrangement, TGOD shareholders of record as of the distribution date will receive 0.15 percent of one SpinCo Unit Warrant for each TGOD share held, with each SpinCo Unit Warrant entitling the holder to purchase one unit of SpinCo at a price of $0.50 for a period of 30 days from completion of the distribution. Each SpinCo unit will consist of one common share of SpinCo and one-half of one common share purchase warrant, exercisable at a price of $1.25 for a period of 24 months from the date that SpinCo shares commence trading on a recognized stock exchange. The resolutions to approve the arrangement and the SpinCo offering will be presented to TGOD shareholders together with annual meeting matters at a general and special meeting of TGOD shareholders to be held on December 6, 2018.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Cannabis-focused research and development company The Green Organic Dutchman Holdings Ltd. (TSX: TGOD) (OTCQX: TGODF), alongside wholly owned subsidiary TGOD Acquisition Corporation (“SpinCo”), this morning announced entry into a definitive agreement pursuant to which the company will move forward with the previously announced spin-off transaction, subject to the terms and conditions of the arrangement agreement.
Per the update, TGOD will distribute to its shareholders unit purchase warrants of SpinCo by way of a court-approved plan of arrangement. Pursuant to the arrangement, TGOD shareholders of record as of the distribution date will receive 0.15 percent of one SpinCo Unit Warrant for each TGOD share held, with each SpinCo Unit Warrant entitling the holder to purchase one unit of SpinCo at a price of $0.50 for a period of 30 days from completion of the distribution. Each SpinCo unit will consist of one common share of SpinCo and one-half of one common share purchase warrant, exercisable at a price of $1.25 for a period of 24 months from the date that SpinCo shares commence trading on a recognized stock exchange. The resolutions to approve the arrangement and the SpinCo offering will be presented to TGOD shareholders together with annual meeting matters at a general and special meeting of TGOD shareholders to be held on December 6, 2018.
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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