- Acquisition includes 100 percent of issued and outstanding shares of privately-held HemPoland in an immediate accretive cash and share transaction worth $15.5 million with an additional $10.3 million committed to R&D, global expansion
- Agreement opens European gateway with distribution channels to over 750 million people and sales in over 700 locations across 13 countries
- In 2017, HemPoland produced more than 32,000 kg of organic dried flower and 310 kg of organic CBD oils from over 1,250 acres of cultivation
- Deal accelerates TGOD’s strategic plan to become the world’s largest organic cannabis brand
In a move that dramatically accelerates its strategic entry into Europe’s lucrative organic cannabis market, The Green Organic Dutchman Holdings Ltd. (TSX: TGOD) (OTCQX: TGODF) announced on Tuesday that it has entered into a definitive agreement to acquire HemPoland, a European manufacturer and marketer of premium organic CBD oils (http://nnw.fm/5PKCg). The $25.8 million deal, which includes an immediate accretive cash and share transaction in addition to an infusion of funding for research and development, gives the cannabis-focused research and development company an enviable foothold in Europe’s multibillion dollar cannabis market, as detailed by Brian Athaide, CEO of TGOD.
“HemPoland is a key component to a number of strategic acquisitions and planned partnerships focused on expanding our global distribution network. This acquisition will significantly add to the Company’s top and bottom line,” Athaide said in announcing the agreement…
More from NetworkNewsWire
NetworkNewsWire (NNW) is a financial news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with NNW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
For more information, please visit https://www.NetworkNewsWire.com