Cannabis-focused research and development company The Green Organic Dutchman Holdings (TSX: TGOD) (OTC: TGODF) this morning issued an update regarding its previously announced spinout transaction. The company will distribute a warrant in the new corporation, TGOD Acquisitions, to TGOD shareholders. Each warrant permits the holder to purchase a unit of TGOD Acquisitions at a price of $0.50 for a period of 30 days from completion of the spinout. Each unit is comprised of one common share and one additional warrant of TGOD Acquisitions. The record date for distribution of the warrants is anticipated to be on or about September 28, 2018. All TGOD shareholders of record will receive a notice from the company’s transfer agent, Computershare Investor Services Inc., with instructions on how to acquire the warrants they are entitled to. The spinout transaction requires approval by a two-thirds majority vote by TGOD shareholders, which will be held at a special meeting expected to take place in September 2018.
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About the Green Organic Dutchman Holdings Ltd.
The Green Organic Dutchman Holdings Ltd. 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 170,000 kg of cultivation facilities in Ontario and Quebec and Jamaica. The company has developed a strategic partnership with Aurora Cannabis Inc. (TSX: ACB) whereby Aurora has invested approximately C$78.1 million for an approximate 17.5% stake in TGOD. In addition, the company has raised approximately C$315 million dollars and has over 20,000 shareholders. TGOD’s common shares and warrants issued under the indenture dated November 1, 2017 trade on the TSX under the symbol “TGOD” and “TGOD.WT”, respectively. For more information, visit the company’s website at www.TGOD.ca
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