The Green Organic Dutchman (TSX: TGOD) this morning announced that it has closed its previously announced bought deal financing for gross proceeds of $12.75 million. Notably, the company saw the full exercise of the over-allotment option.
The bought deal financing saw units of the company sold at a price of $0.24 each, with each unit containing one common share and three quarters of a common share purchase warrant. Each warrant is valid for a period of five years from the date of issue, with an exercise price of $0.30. A total of 53,263,400 units of the company were sold under the offering.
Warrants issued under the offering and now tradeable under the symbol “TGOD.WA” on the TSX.
Proceeds from the financing are to be used to pay off bills incurred during the construction of its Ancaster and Valleyfield facilities, along with other payables that are due.
The Green Organic Dutchman last traded at $0.24 on the TSX.
Information for this briefing was found via Sedar and The Green Organic Dutchman. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
