The Green Organic Dutchman To Settle $75K Of Debt Via Shares Transaction, Grants Stock Options

The Green Organic Dutchman Holdings Ltd. TGODF TGOD, has agreed to issue an aggregate of 937,500 common shares of the company, at a deemed issuance price of $0.08 per common share, to settle approximately $75,000 owing to a third party financial advisory firm for certain financial advisory services provided to the company by the advisor.

Such common shares will be issued in reliance on certain prospectus exemptions available under securities legislation and will be subject to a four-month plus one day statutory hold period. The issuance of such common shares to settle the indebtedness remains subject to all necessary regulatory approvals including final acceptance by the Canadian Securities Exchange.

The company has granted options to purchase an aggregate of up to 37,000 common shares to certain employees of the company. Each option is exercisable into one common share at an exercise price per common share equal to $0.085. The options vest as to 1/3 of the total number of options granted on each of the first, second and third anniversaries of the grant date, and expire five years from the grant date. The options are granted in accordance with the company's share option plan adopted by the board of directors of the company on May 12, 2021.

Photo by Mackenzie Marco on Unsplash

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