The Green Organic Dutchman Holdings Ltd. Announces Closing of $5 Million Advance on Accordion Facility
THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.
Toronto, ON, April 27, 2020 ‐ The Green Organic Dutchman Holdings Ltd. (the "Company" or “TGOD”) (TSX:TGOD) (US:TGODF) is pleased to announce that it has closed its previously announced incremental $5 million accordion facility advance, as per the terms of the amended credit agreement with its existing Senior Lender.
In conjunction with the advance, the Company has issued 1,500,000 common share purchase warrants (“Warrants”) to the Senior Lender. Each Warrant is exercisable to acquire one common share of the Company for a period of 36 months from the date of issue at an exercise price of $0.39 per Warrant. TGOD will use the funds to develop and launch key product lines including a mainstream-priced organic cannabis flower brand and a line of whole leaf organic cannabis teas, to pay fees and expenses related to the transaction and for general corporate purposes.
About The Green Organic Dutchman Holdings Ltd.
The Green Organic Dutchman Holdings Ltd. (TSX: TGOD) (US‐OTC: TGODF) is a premium certified organic cannabis company focused on the health and wellness market. Its certified‐organic cannabis is grown in living soil, as nature intended. The Company is committed to cultivating a better tomorrow by producing its products responsibly, with less waste and impact on the environment. Its two Canadian facilities are being built to LEED certification standards and its products are sold in recyclable packaging. In Canada, TGOD plans to expand its product portfolio by launching a series of next‐generation cannabis products such as organic teas, infusers and vapes. Through its European subsidiary, HemPoland, the Company also distributes premium hemp CBD oil and CBD-infused topicals in Europe. By leveraging science and technology, TGOD harnesses the power of nature from seed to sale.
TGOD's Common Shares and warrants issued under the indentures dated November 1, 2017 and December 19, 2019 trade on the TSX under the symbol "TGOD", "TGOD.WT" and “TGOD.WS”, respectively, and TGODF trades in the US on the OTCQX. For more information on The Green Organic Dutchman Holdings Ltd., please visit www.tgod.ca.
This news release includes statements containing certain "forward‐looking information" within the meaning of applicable securities law ("forward‐looking statements"). Forward looking statements in this release
includes, but is not limited to, statements about the use of proceeds of the advance, statements about the offering of any particular products by the Company in any jurisdiction and statements regarding the future development of the Company. Forward‐looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", “should”, "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward‐looking statements throughout this news release. Forward‐looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties (including market conditions) and other factors that could cause actual events or results to differ materially from those projected in the forward‐looking statements, including those risk factors described in the Company’s most recently filed Annual Information Form available on SEDAR. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward‐looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
Neither the TSX nor the TSX’s Regulation Services Provider (as that term is defined in the policies of Toronto Stock Exchange) accept responsibility for the adequacy or accuracy of this release.