Cannabis-focused research and development company The Green
Organic Dutchman Holdings (TSX: TGOD) (OTCQX: TGODF) this morning announced the
closing and approval from the Toronto Stock Exchange of its acquisition of
HemPoland. In connection with the transaction, the company has paid $7.75
million in cash and has issued 1,968,323 restricted shares that will be
escrowed for a term of three years from closing. There is also a contingent
consideration of up to 3,047,722 deferred shares based on HemPoland achieving
$32 million in EBITDA for the financial year 2021. TGOD will invest an
additional $10.3 million in HemPoland to fund innovative product development and
rapid European expansion. “HemPoland has proven an ability to execute through
quality product development and strong brand awareness. We are incredibly
pleased with this transaction, a key milestone in our long-term acquisitions
strategy. The acquisition is accretive to our shareholders, delivers immediate
revenue, and opens a new vertical for TGOD. We’re incredibly excited to have
such an innovative and strong entrepreneurial team join our TGOD family,” The
Green Organic Dutchman Holdings CEO Brian Athaide stated in the news release.
To view the full press release, visit http://ibn.fm/QXywf
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 and is building
1,382,000 sq. ft. of cultivation facilities in Ontario, 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$350 million 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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