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.
To view the full press release, visit http://ibn.fm/lNSBC
About The Green Organic Dutchman Holdings Ltd.
The Green Organic Dutchman Holdings Ltd. is a premium global
organic cannabis company, with operations focused on legal medical cannabis
markets in Canada, Europe and Latin America and the legal Canadian adult-use
market. 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 across Ontario, Quebec and Jamaica. In addition, TGOD
has raised approximately C$460 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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