Friday, May 30, 2025

Latest

TGOD Closes $17.3 Million Bought Deal Financing

The Green Organic Dutchman (TSX: TGOD) this morning announced that it has finally closed its previously announced bought deal financing. The financing, originally for $15 million, closed on an oversubscribed basis.

TGOD's Logo

In total, the company managed to raise total gross proceeds of $17.25 million through the sale of 43.1 million units of the company at a price of $0.40 per unit. Each unit consists of one common share and one common share purchase warrant, which has an expiry of 48 months and an exercise price of $0.50 per share.

The company has indicated that the funding provided by the latest financing round will give them the “financial runway we need until we become operating cash flow positive,” which is expected to occur later this year. The funds themselves have been indicated to be directly used to pay off accounts payable, some of which is related to construction at its facilities, as well as to fund operating cash flows and general corporate purposes.

The Green Organic Dutchman last traded at $0.42 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.

Leave a Reply

Video Articles

How To Profit From $3300 Gold? An Inside Look At A Massive 300,000 Oz Project | Martino De Ciccio

We’re At The Start of a Great Silver Boom | Ross McElroy & Andy Bowering – Apollo Silver Corp

Equinox Gold Q1 Earnings: When Everything Goes Wrong

Recommended

Sterling Metals Hits 0.21% Copper Over 482.8 Metres In First Drilling At Soo Copper project

First Majestic Makes Second Major Discovery At Santa Elena In Just A Year

Related News

The Green Organic Dutchman’s Long Awaited Commercial Debut Will be Awaited a While Longer

A very patient and enthusiastic The Green Organic Dutchman (TSX: TGOD) shareholder base anticipating a...

Thursday, August 15, 2019, 07:00:43 AM

The Green Organic Dutchman Closes $27.6 Million Bought Deal

The Green Organic Dutchman (TSX: TGOD) has finally closed its bought deal financing announced in...

Thursday, December 19, 2019, 08:55:27 AM

From Founder To Former: Severance In the Cannabis Sector

You’re only the worth the value of your severance package. Or at least, that’s what...

Thursday, January 9, 2020, 06:13:51 PM

The Green Organic Dutchman Cuts Executive Roles

The Green Organic Dutchman (TSX: TGOD) announced several executive leadership changes today, which largely consists...

Thursday, January 9, 2020, 08:34:22 AM

The Green Organic Dutchman Files to Up List to NASDAQ

The Green Organic Dutchman (TSX: TGOD) announced this morning that it had submitted its application...

Wednesday, August 7, 2019, 10:00:03 AM