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Cannabis firm TGOD tried to sell major Ontario facility for $94.2M in leaseback deal
According to a memorandum advertising the property's sale, TGOD was asking for $94.2 million for its 165,879-square-foot facility in Ancaster, Ontario
Cannabis producer The Green Organic Dutchman Holdings Ltd. says it has taken its Ancaster, Ont., greenhouse off the market after attempting to sell the facility through a leaseback arrangement earlier this month.

According to an offering memorandum advertising the property’s sale, which the Post obtained this week, TGOD was asking for $94.2 million for its 165,879-square-foot facility. Construction has yet to be completed, but the memorandum said TGOD had invested $107 million in the facility and its equipment. Under the terms of the offering, the licensed producer was willing to pay a little more than $10 million per year in rent over an initial lease term of 15 years and would be subject to annual rent increases of two per cent.

TGOD spokesperson Sebastien Bouchard said the Mississauga, Ont.-based company had previously disclosed in an Oct. 9 press release that it had been engaged in discussions for “ordinary course commercial bank facilities and equipment leasing.” TGOD received offers for the facility, Bouchard said, but was unable to come to an agreement with prospective buyers.