Business
Planet Ventures Inc. Investment holding - The Green Organic Dutchman Announces Strategic Investment by Aurora Cannabis
(via TheNewswire) Vancouver, British Columbia / TheNewswire / January 12, 201...
About this update from Planet Ventures Inc
[{"type":"text","content":"Planet Ventures Inc. Investment holding - The Green Organic Dutchman Announces Strategic Investment by Aurora Cannabis(via TheNewswire)\n \n \nVancouver, British Columbia / TheNewswire / January 12, 2018 - Planet Ventures Inc. (the \"Company\" or \"Planet\") (TSX.V: PXI; FSE: P6U) is pleased to announce that one of their investment holdings, The Green Organic Dutchman Holdings Ltd. (\"TGOD\"), announced a strategic investment by Aurora Cannabis (TSX:ACB) as well as a supply contract.\n\n \n \nAccording to Aurora's news release dated January 5th, 2018:\n\n \n \nUnder the terms of the agreement, which the companies anticipate completing in the coming weeks, Aurora will acquire, through a private placement (\"the \"Placement\"), a 17.62% 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 $3.00 per common share for a period of 36 months following closing of the offering.\n\n \n \nA full copy of the news release can be found here: http://www.newswire.ca/news-releases/aurora-cannabis-to-be-cornerstone-investor-in-the-green-organic dutchman-and-signs-supply-agreement-for-organic-cannabis-668123153.html \n\n \n \nPlanet currently owns 50,000 TGOD shares which were purchased in 2017 at $0.50/share.\n\n \n \nZula 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.\"\n\n \n \nAbout The Green Organic Dutchmen Holdings Ltd.\n\n \n \nThe Green Organic Dutchman Ltd. 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.\n\n \n \nTGOD 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, ON, pursuant to the provisions of the ACMPR and the Controlled ...