The Green Organic Dutchman Provides Corporate Update and Confirms Product Innovation Pipeline Expansion
- Launching Highly Dutch across Canada in the second half of September
- Bringing innovative products to market, including expanded RIPPLE suite of products
- Appointed new head of operations
- Signed distribution agreements for international exports to Australia/NZ
TORONTO, Aug. 28, 2020 /CNW/ – The Green Organic Dutchman Holdings Ltd. (the “Company” or “TGOD”) (TSX: TGOD) (US: TGODF), a leading producer of premium certified organically grown cannabis, is pleased to provide an update on the progress of its corporate initiatives.
Quebec at the end of May. Given strong sales, the Company looks forward to expanding to the balance of Canada in late September once it can build sufficient finished goods inventory to provide consistent supply to the market.
Quebec, at the end of September.
Colorado-based Stillwater Brands to bring their entire RIPPLE product suite to Canada, including RIPPLE Gummies and RIPPLE QuickSticks.
By leveraging Stillwater Brands’ proven formulations and intellectual property, TGOD has been able to develop products that are compliant to Canadian regulations at a much faster pace. Commercialization of RIPPLE Gummies is expected in the fourth quarter.
TGOD also leveraged consumer insights to develop new product formats, including balanced CBD/THC and CBD only versions. Some of these new products are already in market, with the balance expected to be commercialized during the fourth quarter.
Valleyfield facility, which is fully licensed, into a processing hub to support its product innovation pipeline and reduce its reliance on third parties. Processing of production has already commenced.
Valleyfield facility. This will allow for better control of quality, agility in shift staffing and capacity and importantly over the longer term should enable cost reduction allowing for better gross margins. This along with hash and chewables production is expected to help with capacity utilization and fixed cost absorption in its Valleyfield facility during Q4 2020. The transfer of equipment is planned during September. The Company anticipates modest start up costs in connection with this in-sourcing of the production of certain of its 2.0 products.
Valleyfield.
Ancaster facility led to inconsistent climate controls in the hybrid greenhouse during the very hot weather in late July and early August which led to several recent August harvests not meeting the Company’s strict premium flower specifications. As a result, most of the flower from these harvests will now be used for extraction. The Company along with its equipment vendors have since significantly reduced the energy center downtimes resulting in improved climate controls and the Company expects future harvests to meet its specifications.
Quebec to the balance of the country from August until the latter part of September. This is partially offset by further cost reductions identified by the Company, and the Company continues to expect to reach a monthly revenue run rate that delivers positive Canadian operating cash flow by the end of 2020.
Cargill and Maple Leaf Foods.
Germany for validation purposes. This process is expected to be completed by the end of the year, following which TGOD plan to begin exporting medical cannabis to Europe and other jurisdictions.
Australia and New Zealand with LeafCann. The Australian distributor will act as TGOD’s exclusive agent for the Company’s range of medical cannabis products in both countries. The Company expects its first commercial shipment during the first quarter of 2021.
TGOD) (US-OTC: TGODF) is a premium certified organically grown cannabis company focused on the health and wellness market. Its organic cannabis is cultivated in living soil, as nature intended. The Company is committed to cultivating a better tomorrow by producing its products responsibly, with less waste and impact on the environment. Its two Canadian facilities have been built to LEED certification standards and its products are sold in recyclable packaging. In Canada, TGOD sells dried flower and oil, and recently launched a series of next-generation cannabis products such as organic teas, dissolvables and vapes. Through its European subsidiary, HemPoland, the Company also distributes premium hemp CBD oil and CBD-infused topicals in Europe. By leveraging science and technology, TGOD harnesses the power of nature from seed to sale.” data-reactid=”51″>About The Green Organic Dutchman Holdings Ltd.
The Green Organic Dutchman Holdings Ltd. (TSX: TGOD) (US-OTC: TGODF) is a premium certified organically grown cannabis company focused on the health and wellness market. Its organic cannabis is cultivated in living soil, as nature intended. The Company is committed to cultivating a better tomorrow by producing its products responsibly, with less waste and impact on the environment. Its two Canadian facilities have been built to LEED certification standards and its products are sold in recyclable packaging. In Canada, TGOD sells dried flower and oil, and recently launched a series of next-generation cannabis products such as organic teas, dissolvables and vapes. Through its European subsidiary, HemPoland, the Company also distributes premium hemp CBD oil and CBD-infused topicals in Europe. By leveraging science and technology, TGOD harnesses the power of nature from seed to sale.
www.tgod.ca.” data-reactid=”52″>TGOD’s Common Shares and warrants issued under the indentures dated November 1, 2017 and December 19, 2019 trade on the TSX under the symbol “TGOD”, “TGOD.WT”, “TGOD.WS” and “TGOD.WR”, respectively, and TGODF trades in the US on the OTCQX. For more information on The Green Organic Dutchman Holdings Ltd., please visit www.tgod.ca.
Europe and other jurisdictions, statements about the timing of international sales of the Company’s products, statements about the Company’s ability to offer certain products in certain jurisdictions and statements about the Company’s ability to reach certain financial and operational milestones. Forward-looking statements are frequently characterized by words such as “plan”, “continue”, “expect”, “project”, “intend”, “should”, “believe”, “anticipate”, “estimate”, “may”, “will”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties (including market conditions) and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements, including those risk factors described in the Company’s most recently filed Annual Information Form available on SEDAR. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
Neither the TSX nor the TSX’s Regulation Services Provider (as that term is defined in the policies of Toronto Stock Exchange) accept responsibility for the adequacy or accuracy of this release.
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