Cannabis-focused research and development company The Green Organic Dutchman Holdings (TSX: TGOD) (OTCQX: TGODF) together with its wholly-owned subsidiary, TGOD Acquisition Corporation (“SpinCo”), today announced receipt of approval from the Ontario Superior Court of Justice for the previously announced plan of arrangement. Under the terms and conditions of the arrangement agreement between TGOD and SpinCo, TGOD will distribute to TGOD shareholders unit purchase warrants of SpinCo. The TGOD board of directors has established January 31, 2019 as the record date for the distribution and, pursuant to the agreement, at which time each TGOD shareholder of record who confirms they are not a U.S. shareholder and elects to receive SpinCo unit warrants will receive 0.15 of one SpinCo unit warrant for each TGOD share held. In accordance with the terms and conditions of a warrant indenture to be entered into by TGOD and SpinCo, each SpinCo unit warrant will entitle the holder to purchase one SpinCo unit upon (i) the holder tendering the exercise price of $0.50 per SpinCo unit to SpinCo within 30 days following the effective date of the arrangement and (ii) SpinCo obtaining a receipt for a final prospectus qualifying the distribution of the SpinCo units within 60 days following the effective date, failing which the holder will be entitled to a return of the exercise price tendered for such SpinCo units.
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About The Green Organic Dutchman Holdings Ltd.
The Green Organic Dutchman Holdings Ltd. is a publicly traded, premium global organic cannabis company, with operations focused on medical cannabis markets in Canada, Europe, the Caribbean and Latin America, as well as the Canadian adult-use market. 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 170,000kgs and is building 1,382,000 sq. ft. of cultivation facilities across Ontario, Quebec and Jamaica. For more information, visit the company’s website at www.TGOD.ca.
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