The Green Organic Dutchman Holdings has announced a proposed equity financing to raise at least $10 million.
As quoted in the press release:
The Company is conducting a financing on best efforts basis to sell 20,000,000 common shares (the “Shares”) at a price of $0.50 per Share for aggregate gross proceeds of $10.0 million (the “Offering”) The Company has limited the maximum allowable allocation, for 60% of the offering, to $10,000 per investor. Subject to, and in addition to any statutory resale restrictions, the Shares will be subject to a 6-month escrow period commencing from the first day TGOD shares (or derivative thereof) become listed on an exchange.
“This is a unique financing to retail shareholders that allows as many potential patients and users to participate, as an investor, in the upside of our Company,” states Scott Skinner, Founder of TGOD.
GREEN ORGANIC DUTCHMAN HIGHLIGHTS:
- Highest quality Organic Medical Cannabis
- Currently licensed for 1,000 kg per year
- Large land package of 25 acres
- 2017 expansion plan of 12,500 kg additional production
A finder’s fee of 8% will be paid to certain parties for introducing qualified subscribers in relation to the Offering. The Shares will have the same terms and restrictions as the Offering.