The Green Organic Dutchman, a sustainable global cannabis company, announced that it has granted options to purchase an aggregate of up to 29,552,000 common shares of the company to certain directors, officers, employees, and consultants. 19,950,000 options were granted to directors and executive officers, and 9,602,000 options were granted to employees and consultants. Each option is exercisable into one common share at an exercise price per common share equal to $0.13. The options vest as to 1/3 of the total number of options granted on each of the first, second and third anniversaries of the grant date, and expire five years from the grant date. The Options are granted in accordance with the company's share option plan adopted by the board of directors of the company on May 12, 2021.
Pursuant to the terms of the company's amended and restated restricted share unit plan dated October 9, 2020, restricted share units ("RSUs") representing the right to receive up to an aggregate of 350,000 common shares, subject to the satisfaction of certain vesting conditions, were also awarded to a consultant of the company. Copies of the option plan and the RSU plan are available under the company's SEDAR profile at www.sedar.com.
The Green Organic Dutchman serves the recreational market in Canada with a brand portfolio including The Green Organic Dutchman, Highly Dutch Organics, Ripple by TGOD and Cruuzy brands, and the medical markets in Canada, South Africa, Australia, and Germany. All cannabis used in products for The Green Organic Dutchman and Highly Dutch Organics brands is grown through a certified organic process, which includes living soil, filtered rainwater, sunlight,and natural inputs. Through its European subsidiary, HemPoland, the company also distributes hemp CBD oil and CBD-infused topicals in Europe.