The Green Organic Dutchman Holdings (TSX: TGOD) (OTCQX: TGODF), a leading producer of premium, certified organically grown cannabis, today announced that its wholly owned Quebec subsidiary Medican Organic Inc. has completed the previously announced sale (the “transaction”) of the majority of its assets in Valleyfield, Quebec (the “Quebec Facility”). According to the update, this includes all industrial and agricultural land, main hybrid greenhouse, rooftop greenhouse, all support buildings and certain related equipment, to Cannara Biotech (“OPS”) Inc. for the $27 million purchase price contemplated in the purchase and sale agreement. Medican also received a $5.7 million deposit refund from Hydro-Quebec. Concurrent with closing of the transaction, TGOD repaid approximately $31.8 million to its senior lender to settle all outstanding obligations and terminated the loan agreement with such lender.
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About The Green Organic Dutchman Holdings Ltd.
The Green Organic Dutchman Holdings is a premium certified organically grown cannabis company focused on the health and wellness market. Its organic cannabis is cultivated in living soil, as nature intended. The company is committed to cultivating a better tomorrow by producing its products responsibly, with less waste and impact on the environment. Its Canadian facilities have been built to LEED certification standards and its products are sold in recyclable packaging. In Canada, TGOD sells dried flower and oil, and recently launched a series of next–generation cannabis products such as hash, vapes, organic teas and dissolvable powders. Through its European subsidiary, HemPoland, the company also distributes premium hemp CBD oil and CBD-infused topicals in Europe. By leveraging science and technology, TGOD harnesses the power of nature from seed to sale.
TGOD’s common shares and warrants issued under the indentures dated Dec. 19, 2019, June 12, 2020, Oct. 23, 2020, and Dec. 10, 2020, trade on the TSX under the symbol “TGOD,” “TGOD.WS,” “TGOD.WR,” “TGOD.WA,” and “TGOD.WB” respectively, and TGODF trades in the U.S. on the OTCQX. For more information about the company, please visit www.TGOD.ca.
NOTE TO INVESTORS: The latest news and updates relating to TGODF are available in the company’s newsroom at http://ibn.fm/TGODF
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