By Green Organic Dutchman Holdings Ltd. on Thursday, 19 December 2019
Category: Vertically Integrated

The Green Organic Dutchman closes $27.6M bought deal financing

It intends to use the proceeds to complete the construction of its processing facility in Ancaster, Ontario

The offering contained 36.8 million units, each consisting of one share and one half a share purchase warrant

The Green Organic Dutchman Holdings Ltd () (OTCMKTS:TGODF) has officially closed its previously announced C$27.6 million bought deal financing. 

The offering contained 36.8 million units, each consisting of one share and one half a share purchase warrant. The units were sold for $0.75 each, and each full warrant lets the holder acquire another common share at a price of $1.

READ: Green Organic Dutchman arranges $42 million credit facility

The underwriters, led by Corp, chose to fully exercise their over allotment option, boosting what would’ve originally been a $24 million deal. 

The Ontario-based cannabis company said it intends to use the proceeds to complete the construction of its processing facility in Ancaster, Ontario and for general corporate purposes.

Green Organic Dutchman shares climbed 1.4% to C$0.71 in Toronto on Thursday and held flat at US$0.54 in New York.

—Updated to include stock movement—

Contact Andrew Kessel at [email protected] 

Follow him on Twitter @andrew_kessel

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Green Organic Dutchman Holdings Ltd. named herein, including the promotion by the Company of Green Organic Dutchman Holdings Ltd. in any...

FOR OUR FULL DISCLAIMER CLICK HERE

Related Posts