The Green Organic Dutchman To Sell Its Quebec Cannabis Cultivation Facility For $32.7M

The Green Organic Dutchman Holdings Ltd. (TSX: TGOD) (OTC: TGODF) is selling its Valleyfield, Quebec-based facility to Cannara Biotech Inc. (TSXV: LOVE).

Transaction Details: Under a binding agreement of purchase and sale between Cannara Biotech and TGOD's subsidiary Medican Organic Inc., Cannara will purchase all industrial and agricultural land, main hybrid greenhouse, rooftop greenhouse as well as all support buildings and certain related equipment located in Valleyfield.

In exchange, Cannara will deposit $27 million in cash into escrow prior to the finalization of the sale, which is scheduled to take place on or before June 22.

Pursuant to the deal, Medican will enter into a two-year lease with Cannara, on …

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