- RAMM Pharma Corp. (RAMM) has acquired HemPoland S.p.a. from The Green Organic Dutchman Holdings Ltd. (TGOD) for $1.2 million
- With this, the US$4 million plus accrued interest loan owed by The Green Organic Dutchman payable to HemPoland, was forgiven
- RAMM stated the acquisition will help build its foothold in the European market
- RAMM Pharma Corp. (RAMM) is up 50.00 per cent trading at $0.18 per share as of 1:45 p.m. ET
- The Green Organic Dutchman Holdings Ltd. (TGOD) is down 28.57 per cent trading at $0.05 per share as of 1:53 p.m. ET
RAMM Pharma Corp. (RAMM) has acquired all of the shares of HemPoland S.p.a. from The Green Organic Dutchman Holdings Ltd. (TGOD) for $1.2 million.
Under the terms of a share purchase agreement, The Green Organic Dutchman sold its entire interest in HemPoland to RAMM Pharma Corporation, in addition to a $150,000 non-refundable deposit that was paid in July. The deposit was used for operating expenses in HemPoland.
Alongside this transaction, the US$4 million plus accrued interest loan owed by The Green Organic Dutchman, payable to HemPoland, was forgiven.
HemPoland is a European manufacturer and marketer of premium hemp products. RAMM stated this acquisition gives it access to HemPoland’s distribution network, recognized premium brands, hemp oil extraction technologies, and a synergistic foothold into the European market.
“We are happy to have concluded the sale process and can now focus on continuing to grow our core cannabis business… The proceeds from the sale will provide additional working capital to support this aim,” Sean Bovingdon, CEO of The Green Organic Dutchman, said.
RAMM works in the field of cannabinoid pharmacology and product formulation for cannabis-based pharmaceuticals and other hemp-based products.
The Green Organic Dutchman is a sustainable cannabis company. The company serves the recreational market in Canada with a brand portfolio including The Green Organic Dutchman and Highly Dutch Organics.
RAMM Pharma Corp. (RAMM) is up 50.00 per cent trading at $0.18 per share as of 1:45 p.m. ET.
The Green Organic Dutchman Holdings Ltd. (TGOD) is down 28.57 per cent trading at $0.05 per share as of 1:53 p.m. ET.
