The Green Organic Dutchman Holdings Ltd. announced its plan to go public, and now investors have their chance to participate in the action.
TGOD’s IPO will go live this morning, trading under “TGOD” and “TGOD.WT” on the Toronto Stock Exchange (TSX). There was an upsizing of the IPO units from 28,000,000 to 31,510,000 to meet market demand. Units will be priced at $3.65.
Daily Hive spoke with Danny Brody, Vice President of Investor Relations, to find out what makes TGOD a unique and exciting prospect.
TGOD has already raised all of its initial capital—$160,000,000 funded by 4000 retail shareholders. These include “advocates and patients”, people who have been helped by TGOD’s medicinal cannabis program, as well as strategic partners.
Aurora made a $55 million cornerstone investment in TGOD, and purchased a 17.62% stake in the company. TGOD also received a purchase order for 20% of future sales from Aurora, providing a vertical integration that can help them thrive in the cannabis market. Other benefits of the partnership include access to funding, access to advanced knowledge, and the potential for accelerated growth through distribution channels and international markets.
“Organic is a brand” and TGOD is committed to producing quality organic cannabis grown in living soil. There are fewer than a handful of licensed organic producers in Canada, and TGOD is striving to be the industry leader in that market. Consumer research has indicated a desire for products that are devoid of harmful pesticides and are grown using responsible and sustainable practices.
The expansion of TGOD’s facilities includes 970,000 sq. ft. across Ontario and Quebec, allowing for 116,000 kg of annual production of cannabis. In order to reduce their environmental impact, TGOD’s facilities are expected to be LEED-certified (Leadership in Energy and Environmental Design, which is an internationally recognized green building
Natural on-site wells and rainwater reservoirs mean up to 90% of water will be collected and recycled. Advanced technology will be implemented to reduced energy and heat consumption, and conservation efforts will be made to protect local wildlife habitats and at-risk species.
Eaton Corp., Ledcor Group, Aurora Larssen Projects, and HCE Energy Inc. round out TGOD’s alliance partners, allowing them to “leverage expertise from industry leaders.” This is matched by an experienced and proven management team and board of directors, and a world-class R&D team.
Four proposed stand-alone R&D facilities are expected to generate diverse product offerings and intellectual property, with a focus on genetics and breeding, and extractions. The Canadian government has proposed about a year wait before we’ll see extractions in the market, but current trends, as well as those seen in other countries where cannabis is legal, show a huge demand for cannabis-consumption alternatives to smoking.