Green Organic Dutchman (TGOD), a large Ontario-based cultivator of organic medical cannabis, announced the syndicate that will handle its upcoming offering of 4.2 million common shares at C$1.65. This will add C$7 million of gross proceeds to its coffers.
The syndicate includes PI Financial as lead agent, with Canaccord Genuity Corp, Haywood Securities, and Mackie Research participating.
Concurrently, TGOD will offer 7.8 million shares to investors through a non-brokered offering, raising an additional C$13 million, for a total of $20 million. TGOD has already raised $42 million. The company is focused on retail investors. To date, 2,400 people have become shareholders in the company.
TGOD aims to become a leading provider of organic medical cannabis, which it produces in small batches using craft principles. It has a current production capacity of 14,000 kg per year and is situated on 175 acres of land in Ontario and Quebec.