- The Green Organic Dutchman Holdings (OTCQX:TGODF) has announced that it has closed the sale of its Polish subsidiary, HemPoland.
- Under the terms, TGOD sold its full interest in HemPoland to RAMM Pharma Corporation for $1.2M on closing after customary closing adjustments.
- In addition to a $0.15M non-refundable deposit provided in July that was used for operating expenses in HemPoland.
- In conjunction with closing, the loan payable to HemPoland by TGOD, of $4M plus accrued interest, was forgiven.
- "The proceeds from the sale will provide additional working capital to support this aim," said Sean Bovingdon, CEO of TGOD.