The Green Organic Dutchman Holdings Ltd. (TSXL: TGOD) announced this morning that the company completed an initial public of 31,510,000 units at a price of $3.65 per unit to generate a total of $115,011,500 for the company.
Each unit of the public offering consists of one common share and one-half of one common share purchase warrant that can be exercised into one Common Share at the price of $7.00 for a two years period.
Interesting enough, Aurora Cannabis Inc. (TSX: ACB), one of the top public cannabis companies in Canada, has participated into the public offering by purchasing a total of 6.3 million units for a total investment of $23.1 million. This is the second investment that Aurora Cannabis has made into the Green Organic Dutchman and the company now has a total of 39.7 million shares.
The remainder of the offering was initiated by Canaccord Genuity Corp., PI Financial Corp., Industrial Alliance Securities Inc., INFOR Financial Inc., Echelon Wealth Partners Inc. and Mackie Research Capital Corporation.
The Green Organic Dutchman is in the process of completing a 820,000 sq. ft. facilities with the ability to produce 104,000 kg which will be licensed to cultivate medicinal cannabis under the Access to Cannabis for Medical Purposes Regulations in Canada. The Green Organic Dutchman lives up to its name by cultivating high quality, organic, sustainable cannabis using all-natural principals.