Cannabis-focused research and development company The Green
Organic Dutchman Holdings Ltd. (TSX: TGOD) (OTCQX: TGODF) this morning
announced that it has signed a definitive agreement to acquire 100% of the
issued and outstanding shares of HemPoland in an immediately accretive cash and
share transaction. HemPoland is a European manufacturer and marketer of premium
organic CBD oils. In addition to providing the company with a route into the
European market, this strategic acquisition gives TGOD access to HemPoland’s
immense distribution network, premium Cannabigold brand and advanced hemp oil
extraction technologies. The acquisition cost is comprised of $7.75 million in
cash and 1,968,323 restricted TGOD shares presently worth $7.75 million, with
an additional $10.3 million cash investment for rapid European expansion. The
closing of this transaction is subject to customary closing conditions and the
approval of the Toronto Stock Exchange.
“HemPoland is a key component to a number of strategic
acquisitions and planned partnerships focused on expanding our global
distribution network. This acquisition will significantly add to the company’s
top and bottom line,” The Green Organic Dutchman CEO Brian Athaide stated in
the news release. “Gaining market share with CBD products now, in the EU, with
over 700 locations allows TGOD to establish immediate brand awareness across
all verticals including infused beverages. This is an accretive acquisition and
gateway to Europe’s 750 million people accelerating our plan of becoming the
world’s largest organic cannabis brand.”
To view the full press release, visit http://ibn.fm/9GW1R
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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