TORONTO — The Green Organic Dutchman Holdings Ltd. (the “Company” or “TGOD”) (CSE: TGOD) (OTC: TGODF), a sustainable global cannabis company is pleased to announce it has closed an agreement of purchase and sale, of its leasehold improvements at the Puslinch facility (the “Transaction”) with the landlord (the “Landlord”) for $3 million (the “Consideration”). $2 million of the Consideration will be paid to the Company in cash, and $1 million of the Consideration will settle previous loans advanced to the Company by the Landlord, including all accrued interest and transaction costs thereon. In connection with the Transaction, the Company has also agreed to an increase in rent of $25,000 a month for the remainder of the lease term on the Puslinch facility of approximately 19 years.
“TGOD is poised for substantial growth in 2022. We enjoy a great productive relationship with our Landlord and this economically sensible Transaction provides us with immediate additional working capital to fund our continued growth as we continue to focus on execution, and financial discipline,” said Sean Bovingdon, CEO of TGOD.
About The Green Organic Dutchman Holdings Ltd.
The Green Organic Dutchman Holdings Ltd. (CSE: TGOD) (US–OTC: TGODF) is a sustainable cannabis company with a focus on innovation, quality, consistency, integrity and transparency. The Company is committed to cultivating a better tomorrow by producing its products responsibly, with less waste and impact on the environment. In Canada, the Company serves the recreational market with a brand portfolio including The Green Organic Dutchman, Highly Dutch Organics, Ripple by TGOD and Cruuzy, and the medical markets in Canada, South Africa, Australia, and Germany. All cannabis utilized in products for The Green Organic Dutchman and Highly Dutch Organics brands is grown through a certified organic process, which includes living soil, filtered rainwater, sunlight, and natural inputs.
The Company’s common shares and certain warrants issued under the indentures dated December 19, 2019, June 12, 2020, October 23, 2020, and December 10, 2020, trade on the CSE under the symbol “TGOD”, “http://TGOD.WS“, “TGOD.WR”, “TGOD.WA”, and “TGOD.WB” respectively. The Company’s common shares trade in the U.S. on the OTCQX under the symbol “TGODF”. For more information on The Green Organic Dutchman Holdings Ltd., please visit www.tgod.ca.
