One of Planet Ventures Inc.’s investment holdings, The Green Organic Dutchman Holdings Ltd. (TGOD), will receive a strategic investment by Aurora Cannabis as well as a supply contract. The following is from Aurora’s news release dated Jan. 5, 2018.
Under the terms of the agreement, which the companies anticipate completing in the coming weeks, Aurora will acquire, through a private placement, a 17.62-per-cent interest on a non-diluted basis. The placement consists of 33,333,334 units, priced at $1.65 per unit, for gross proceeds of $55-million. Each unit consists of one common share and one-half of one common share purchase warrant, exercisable at $3 per common share for a period of 36 months following closing of the offering.
A full copy of the news release can be found on-line.
Planet currently owns 50,000 TGOD shares which were purchased in 2017 at 50 cents per share.
Zula Kropivnitski, Planet’s chief financial officer, states: “We are extremely excited with Aurora’s investment in TGOD. We invested in the company in 2017 because we believed they had the potential to become one of the most successful licensed producers in the country and Aurora’s investment solidifies this thesis. Our team looks forward to updating our shareholders over the coming quarters.”
About The Green Organic Dutchmen Holdings Ltd.
The Green Organic Dutchman produces farm grown, organic cannabis for medical use. The company grows its high-quality organic cannabis in small batches using craft growing, all natural and organic principles.
TGOD is licensed under the Access to Cannabis for Medical Purposes Regulations (ACMPR) to cultivate medical cannabis. TGOD carries out its principal activities producing cannabis from its facilities in Hamilton, Ont., pursuant to the provisions of the ACMPR and the Controlled Drugs and Substances Act (Canada) and its regulations.
About Planet Ventures Inc.
Planet Ventures is positioning itself to be a leading investment issuer in blockchain technologies and cryptocurrencies, providing investors exposure to a wide range of investments in the crypto/blockchain markets. Planet invests in ICOs (initial coin offerings) and its management is focused solely on creating shareholder value by exposing its investors to multiple opportunities in the crypto/blockchain market. The company’s initiative is to empower entrepreneurs developing disruptive technologies in the blockchain space and provide them with the necessary capital and expertise to assist them in revolutionizing the industry. The company will retain its current investment portfolio and will continue to assess new opportunities for investment inside the cryptocurrency/blockchain space.