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Green Organic Dutchman Holdings Ltd (OTCMKTS:TGODF) Speaks Out On a Recently Pronounced Bought Deal Financing



Green Organic Dutchman Holdings Ltd (OTCMKTS:TGODF) and Canaccord Genuity Corp have today announced their entry into an amendment deal. This announcement is in line with a recent bought deal involving Canaccord where it was to increase the size of the deal.

A close outlook at the deal

Revisions have been made in the necessary areas, and the governing terms are quite clear. The Underwriter, who happens to be Canaccord, in this case, says it will be buying about 32 million units. It has agreed to buy each of the units for $0.75.

The Green Organic Dutchman Holdings says it agrees to the arrangement to allow the underwriter to maximize the opportunity. The agreement states that Canaccord will be free to buy up to about 4,800,000 Units at the above rate. This deal’s terms also indicate that the Underwriter will be free to exercise the above-stated freedom at any time within that 30-days timeframe. This is including the closing day of the deal, and proper utilization of the freedom would mean a lot of good for the underwriter. It could end up getting proceeds amounting to about $3.6 million.

The prevailing conditions

The units are going to be offered in conformity to a short form prospectus, which is going to be filed in most of the Canadian provinces. The only exception is going to be Quebec, and hopefully, the offering comes to a close on December 17, 2019.

Another point is that the offering is going to be subject to several closing co conditions. One of the conditions has to do with obtaining the stock exchange and regulatory approvals. TSX is one of those that will be required to give their approval in this particular regard. Therefore, the target is to have all the applicable securities regulatory authorities give their approval so that things move forward.

The company has stated that it will do everything possible to see to it that it gets the required approvals. The shareholders are looking forward to seeing whether or not it manages to list the shares in the Toronto Stock Exchange (“TSX”).

Green Organic Dutchman Holdings says that it wants to take up market leadership. It believes that the best way will be by engaging in responsible production activities.

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