The Green Organic Dutchman Holdings Ltd. Secures $5M Credit Facility
HAMILTON, ON–(Marketwired – September 01, 2017) – The Green Organic Dutchman Holdings Ltd. (“TGODH”) is pleased to announce that it entered into a $5 million financing agreement with Alterna Savings and Credit Union Limited (“Alterna”). The financing consists of a line of credit is for $5,000,000 bearing an interest at Alterna’s prime lending rate plus 150 basis points and revolves annually.
With our phase 1 Hamilton expansion fully funded, this incremental capital will allow us to take advantage of strategic opportunities as they arise.
Csaba Reider, President of TGODH
ABOUT THE GREEN ORGANIC DUTCHMAN LTD.
The Green Organic Dutchman Ltd. grows high quality, organically grown, pesticide free medical cannabis in small batches using craft growing, all-natural principles. TGOD’s. products are laboratory tested to ensure patients have access to a standardized, safe and consistent product.
The Green Organic Dutchman Ltd. has a funded capacity of 14,000KG’s. Situated on 100 acres of land, this gives TGOD one of the largest licensed land parcels in Canada. To date, the Company has raised $41.5 million dollars and has over 2,400 shareholders.
The Green Organic Dutchman Ltd. is licensed under the Access to Cannabis for Medical Purposes Regulations (“ACMPR”) to cultivate medical cannabis. The Green Organic Dutchman Ltd. carries out its principal activities producing cannabis from its facilities in Hamilton, Ontario, pursuant to the provisions of the ACMPR and the Controlled Drugs and Substances Act (Canada) and its regulations.