On November 25th, Canadian cannabis producer The Green Organic Dutchman announced a $10mm capital raise. The company, which is selling shares at $0.50, has increased the deal size to $12mm. Further, investment bank PI Financial Corp. will now be acting as the sole lead agent on the $6.5mm brokered offering portion of the transaction.
The deal is still expected to close on December 15th. Securities will be locked up for six months following the company’s stock being listed on an exchange, which it expects to complete in 2017. The Green Organic Dutchman received its license to cultivate in August and then was licensed to sell in October. The company operates a production facility in Ancaster, Ontario.