The Green Organic Dutchman Holdings Ltd. is pleased to announce that it has successfully completed an initial public offering (the “Offering”) of 31,510,000 units (the “Units”) of the Company at a price of $3.65 per Unit for total gross proceeds of $115,011,500. Each Unit consists of one common share (a “Common Share”) and one-half of one common share purchase warrant (each whole warrant being a “Warrant”). Each Warrant is exercisable into one Common Share at the price of $7.00 per Common Share until for a period of two years from today, subject to an acceleration right whereby the Company may provide written notice to the registered holders of the Warrants (a “Warrant Acceleration Notice”) that the expiry time of the Warrants shall be accelerated to a date which is 30 days after the date of such Warrant Acceleration Notice, if, at any time, the volume-weighted average trading price for the Common Shares is equal to or great than $9.00 for any ten (10) consecutive trading day period.
The Common Shares as well as the common share purchase warrants it issued pursuant to a warrant indenture dated November 1, 2017 (the “November Warrants”) will begin trading today under the trading symbols “TGOD” and “TGOD.WT”, respectively, on the Toronto Stock Exchange (“TSX”).
Aurora Cannabis Inc. (TSX:ACB) has elected to exercise its full participation right on a pro-rata basis.
The Offering was made through a syndicate of agents co-led by Canaccord Genuity Corp., as sole bookrunner, and PI Financial Corp., and including Industrial Alliance Securities Inc., INFOR Financial Inc., Echelon Wealth Partners Inc. and Mackie Research Capital Corporation (the “Agents”). The Company has granted the Agents an over-allotment option, exercisable in whole or in part, for a period of 30 days following the closing of the Offering, to purchase up to an additional 4,726,500 Units at $3.65 per Unit, 4,726,500 Common Shares at the price of $3.62 per Share or 2,363,250 Warrants at the price of $0.06 per Warrant, or any combination thereof.
No securities regulatory authority has either approved or disapproved of the contents of this news release. The securities of TGOD 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 securities of TGOD 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.
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