NetworkNewsBreaks – The Green Organic Dutchman H
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Posted On: 09/04/2019 4:09:05 PM
NetworkNewsBreaks – The Green Organic Dutchman Holdings Ltd. (TSX: TGOD) (OTCQX: TGODF) Welcomes New Investors, Releases Update on Aurora Ownership
Cannabis-focused research and development company The Green Organic Dutchman Holdings (TSX: TGOD) (OTCQX: TGODF) today commented on the recent transaction between Aurora Cannabis (TSX: ACB) and a syndicate of Canadian banks. Per the update, the block trade was executed on September 3 after market close and resulted in the exchange of a total of 28.8 million shares, each at a negotiated price of $3.00. The Edmonton-based company continues to retain a large number of TGOD warrants equivalent to approximately 5% of its fully diluted shares, and the transaction significantly improves TGOD’s revenue and gross margin mix due to the repatriation of TGOD’s premium organic cannabis previously earmarked for Aurora under an agreement between the parties. “Aurora has been an excellent partner during TGOD’s initial development phase; their investment played an important role in our success. The relationship added significant value across multiple areas of the business, including the initial design and construction of our Canadian facilities,” TGOD CEO Brian Athaide said in the news release. “This is the right next step in the relationship as both companies mature and our respective strategies evolve. It also improves TGOD’s revenue and margin potential on the sale of our premium organic cannabis.”
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 (TSX: TGOD) (OTCQX: TGODF) today commented on the recent transaction between Aurora Cannabis (TSX: ACB) and a syndicate of Canadian banks. Per the update, the block trade was executed on September 3 after market close and resulted in the exchange of a total of 28.8 million shares, each at a negotiated price of $3.00. The Edmonton-based company continues to retain a large number of TGOD warrants equivalent to approximately 5% of its fully diluted shares, and the transaction significantly improves TGOD’s revenue and gross margin mix due to the repatriation of TGOD’s premium organic cannabis previously earmarked for Aurora under an agreement between the parties. “Aurora has been an excellent partner during TGOD’s initial development phase; their investment played an important role in our success. The relationship added significant value across multiple areas of the business, including the initial design and construction of our Canadian facilities,” TGOD CEO Brian Athaide said in the news release. “This is the right next step in the relationship as both companies mature and our respective strategies evolve. It also improves TGOD’s revenue and margin potential on the sale of our premium organic cannabis.”
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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