The Green Organic Dutchman Announces Upsizing of Initial Public Offering of Units to a Maximum of $115,011,500
April 26 2018 - 10:58AM
NOT FOR DISTRIBUTION IN THE UNITED STATES
OR OVER UNITED STATES NEWS WIRE SERVICES
The Green Organic Dutchman Holdings Ltd. (the
“
Company” or “
TGOD”) is pleased
to announce that, due to increased investor demand, the Company has
filed an amended and restated final long form prospectus (the
“
Prospectus”) to increase its previously announced
initial public offering of units of the Company (the
“
Units”). The Final Prospectus of the Company
dated March 29, 2018 contemplated an offering of $102,200,000
through the issuance of 28,000,000 Units at a price of $3.65 per
Unit. The offering will now consist of a minimum offering of
28,000,000 Units for gross proceeds of $102,200,000 and a maximum
offering of 31,510,000 Units for gross proceeds of $115,011,500
(the “
Offering”) at a price of $3.65 per
Unit.
Aurora Cannabis Inc. (TSX:ACB) has elected to
exercise its right to participate in the Offering on a pro-rata
basis.
Each Unit consists of one common share of the
Company (a “Unit Share”) and one-half of one
common share purchase warrant of the Company (each whole warrant
being a “Warrant”). Each Warrant is exercisable
into one common share of the Company (a “Warrant
Share”) at the price of $7.00 per Warrant Share, subject
to adjustment, on or prior to 4:00 p.m. (Eastern Time) on the date
that is the earlier of (i) 24 months after the Closing Date and
(ii) the date specified in any Warrant Acceleration Notice (as
hereinafter defined). If, at any time, the volume-weighted average
trading price of the common shares of the Company is equal to or
greater than $9.00 for any 10 consecutive trading day period, the
Company may provide written notice to Computershare Trust Company
of Canada as warrant indenture trustee and the registered holders
of Warrants (a “Warrant Acceleration Notice”) that
the expiry time of the Warrants shall be accelerated to the date
which is 30 days after the date of such Warrant Acceleration
Notice, subject to TSX approval.
The Offering is being led by Canaccord Genuity
Corp. as sole bookrunner and co-led with PI Financial Corp.
(collectively, the “Co-Lead Agents”), together
with Industrial Alliance Securities Inc., INFOR Financial Inc.,
Echelon Wealth Partners Inc. and Mackie Research Capital
Corporation as agents (collectively, the
“Agents”).
No securities regulatory authority has either
approved or disapproved of the contents of this news release. The
Units have not been and will not be registered under the United
States Securities Act of 1933, as amended (the "U.S.
Securities Act") or any state securities laws.
Accordingly, the Units may not be offered or sold within the
United States unless registered under the U.S. Securities Act
and applicable state securities laws or pursuant to exemptions from
the registration requirements of the U.S. Securities Act and
applicable state securities laws. This news release does not
constitute an offer to sell or a solicitation of an offer to buy
any securities of TGOD in any jurisdiction in which such offer,
solicitation or sale would be unlawful.
On Behalf of the Board of Directors,
The Green Organic Dutchman Holdings Ltd. Robert
Anderson Chief Executive Officer and Co-Chairman
ABOUT THE GREEN ORGANIC DUTCHMAN
HOLDINGS LTD.
The Green Organic Dutchman Holdings Ltd.
("TGOD") 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 116,000 kg and is building 970,000
sq. ft. of cultivation facilities in Ontario and Quebec.
The Company has developed a strategic
partnership with Aurora Cannabis Inc. (TSX:ACB) with a $55
million investment for an approximate 17.5% stake in
TGOD. To date, the Company has raised approximately $160
million dollars and has over 4,000 shareholders.
CONTACT INFORMATION
Investor Relations Email: invest@tgod.ca
Phone: 1 (416) 900-7621
www.tgod.ca
This news release includes statements containing
certain "forward-looking information" within the meaning of
applicable securities law ("forward-looking statements"),
including, but not limited to, statements with respect to the
completion of TGOD's initial public offering, expansion of the
Ancaster facility and completion of the Valleyfield facility and
the performance of TGOD. Forward-looking statements are frequently
characterized by words such as "plan", "continue", "expect",
"project", "intend", "believe", "anticipate", "estimate", "may",
"will", "potential", "proposed" and other similar words, or
statements that certain events or conditions "may" or "will" occur.
These statements are only predictions. Various assumptions were
used in drawing the conclusions or making the projections contained
in the forward-looking statements throughout this news release.
Forward-looking statements are based on the opinions and estimates
of management at the date the statements are made, and are subject
to a variety of risks and uncertainties and other factors that
could cause actual events or results to differ materially from
those projected in the forward-looking statements. The Company is
under no obligation, and expressly disclaims any intention or
obligation, to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
except as expressly required by applicable law.
Neither TSX nor its Regulation Services Provider
(as that term is defined in the policies of Toronto Stock Exchange)
accept responsibility for the adequacy or accuracy of this
release.
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