10:13 AM EST - The Green Organic Dutchman Holdings Ltd. : Announced that it has entered into an agreement with a syndicate of underwriters led by Canaccord Genuity Corp. pursuant to which the Underwriters have agreed to purchase, on a bought deal basis pursuant to the filing of a short form prospectus, an aggregate of 10,950,000 units at a price of $6.85 per Unit for aggregate gross proceeds to the Company of $75,007,500. Each Unit will consist of one common share of the Company and one Common Share purchase warrant. Each Warrant will be exercisable to acquire one Common Share for a period of 30 months following the closing of the Offering at an exercise price of $9.00 per Warrant Share. The Company has granted the Underwriter an option, to purchase up to an additional 1,642,500 Units at a price of C$6.85 per Unit, exercisable at any time, for a period of 30 days after and including the Closing Date. The Over-Allotment Option is exercisable to acquire Units, Common Shares and/or Warrants (or any combination thereof) at the discretion of the Underwriter. The net proceeds of the Offering will be used for the Company's international expansion initiatives and general corporate purposes. The Green Organic Dutchman Holdings Ltd.
shares T.TGOD are trading off 44 cents at $6.77.