The Green Organic Dutchman, a Toronto-based cannabis company, announced on Thursday the distribution of SpinCo Unit warrants to elected shareholders.
The warrants will be distributed to shareholders that elected to receive them following a February news release from the firm. This is set to take effect next week on the 3rd of June.
The company also announced the appointment of Mr. Daniel Brody as Chief Executive Officer of SpinCo.
Brody currently holds the post of Vie President, Investor Relations and will replace David Doherty.
In the statement, SpinCo thanked Mr. Doherty for his contribution to SpinCo during his time at the company.
Earlier this month, the cannabis firm also announced that it had secure a cannabis supply agreement with Alberta Gaming, Liquor & Cannabis.
Commenting on news of the agreement, the company’s chief executive, Brian Athaide, said:
“Alberta is an important market for us as we continue to expand our distribution channels across Canada,”
“With our production facilities in Hamilton, Ontario and Valleyfield, Quebec coming online in phases, we are thrilled to start distributing TGOD’s premium certified organic cannabis to AGLC.”
As of 2019, The Green Organic Dutchman is the largest licensed producer of certified organic cannabis. The firm launched an IPO in May last year, raising over $115 million.
The company operates primarily in Canada, Europe, the Caribbean and Latin America.
Shares in The Green Organic Dutchman (LON:TGOD) are currently trading flat as of 14:00PM (GMT).
Elsewhere in the Cannabis sector, on Wednesday Highlands Natural Resources (LON:HNR) announced a new collaboration with an analytical chemist to further develop its Zoetic cannabinoid business. Shares ticked up on the back of the news.
