The Green Organic Dutchman has closed a senior secured first lien credit facility of up to $42.7 with Maynbridge Capital.
The facility consists of a committed $27.7 million senior secured term loan with an 18-month term, and an additional uncommitted $15.0 million senior secured term loan to be made available upon the lender’s credit approval and the achievement of certain operating and financial milestones which the company expects to obtain and achieve not earlier than the end of the third quarter of 2020.
TGOD also issued 7,000,000 common share purchase warrants of the company to the lender. Each warrant shall be exercisable to acquire one common share of the company for a period of 36 months at an exercise price of C$1.00 (76 cents) per warrant.
TGOD will use the proceeds of the offering to complete construction of its processing facility at Ancaster and for general corporate purposes.
FTI Capital Advisors – Canada ULC advised TGOD in respect of the transaction.
The Green Organic Dutchman Holdings is a premium certified organic cannabis company focused on the health and wellness market.
