Cannabis-focused research and development company The Green
Organic Dutchman Holdings (TSX: TGOD) (OTC: TGODF) this morning announced that
it intends to complete a spinoff transaction resulting in a new corporation
that will be engaged in the acquisition and development of worldwide
opportunities. Following consultations with numerous financial institutions,
TGOD Acquisitions plans to execute a series of staged financings and acquisitions.
The company intends to complete the spinoff through plan of arrangement,
pursuant to which TGOD will distribute a dividend consisting of a warrant in
the new corporation to shareholders. The company will distribute a warrant to
acquire a TGOD Acquisitions unit, consisting of one share plus an additional
warrant, to its shareholders for $0.50. The additional warrant will be
triggered by a subsequent financing following the initial offering. The
distribution will be paid on the basis of one warrant for every 6.67 TGOD
shares owned on the record date, to be fixed by the Board of Directors of TGOD
following satisfaction of the conditions for the arrangement.
“This is an incredible opportunity for TGOD to transfer
expertise and monetize our proprietary knowledge from the Canadian marketplace.
We will partner with innovative and disruptive companies that we can assist
with capital market knowledge and unique retail-exclusive financing methods.
The intention is to raise additional capital and list TGOD Acquisitions on the
Canadian Securities Exchange. We are excited about this unique opportunity to
reward our investors and provide additional value to TGOD shareholders,” The
Green Organic Dutchman Holdings CEO Brian Athaide stated in the news release.
In addition, Mr. Brian Athaide, TGOD CEO, recently released
a shareholder letter highlighting the progress and strengths of the company,
and addressing the planned, and now ongoing, transition of CEO responsibilities
from Robert Anderson to Mr. Athaide. (See http://ibn.fm/Wnur1 for complete shareholder letter.)
To view the full press release, visit http://ibn.fm/2dgZs
About the Green Organic Dutchman Holdings Ltd.
The Green Organic Dutchman Holdings Ltd. is a research &
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. TGOD’s products are
laboratory tested to ensure patients have access to a standardized, safe and
consistent product. TGOD has a funded capacity of 170,000 kg of cultivation
facilities in Ontario and Quebec and Jamaica. The company has developed a
strategic partnership with Aurora Cannabis Inc. (TSX: ACB) whereby Aurora has
invested approximately C$78.1 million for an approximate 17.5% stake in TGOD.
In addition, the company has raised approximately C$315 million dollars and has
over 20,000 shareholders. TGOD’s common shares and warrants issued under the
indenture dated November 1, 2017 trade on the TSX under the symbol “TGOD” and
“TGOD.WT”, respectively. For more information, visit the company’s website
at www.TGOD.ca
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