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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

Cannabis buds on Canadian money
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 (TSE:TGOD) (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 Canaccord Genuity 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

Quick facts: Green Organic Dutchman Holdings Ltd.

Price: 0.29 CAD

TSX:TGOD
Market: TSX
Market Cap: $89.13 m
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