The Green Organic Dutchman Holdings (TSX: TGOD) (OTCQX:
TGODF), a cannabis-focused research and development company, this morning
announced that it has entered into a definitive agreement with Queen
Genetics/Knud Jepsen A/S (“Knud Jepsen”) to establish two 50/50 joint ventures
(“JVs”). The first JV is designed for producing commercial cannabis and
cannabis oils, and the second is intended to develop and patent advanced,
commercially valuable elite cannabis genetics. The companies will establish
both JVs in Denmark, and plan to expand the production JV into future low-cost
European jurisdictions. Per the agreement, the companies will launch a premium
organic European bulk cannabinoid production platform where TGODF will hold the
exclusive right to all cannabis associated production from the JV, through a
guaranteed offtake agreement at a prearranged price comparative to the
production cost of the JV. The production JV will hold exclusive access to all
intellectual property developed within the genetics JV. TGODF will utilize its
unique approach to organic cannabinoid production and leverage Knud Jepsen’s
horticulture experience and R&D division to fast-track commercial
operations in Denmark and throughout Europe. Based in Hinnerup, Denmark, the first
phase of the JV will involve of a 2,500 kg pilot program with 25,000 kgs of
production in Denmark before expanding to other lower cost production
jurisdictions through Europe.
“This JV is incredibly important to furthering TGOD’s
presence in Europe,” TGODF Director and CEO Brian Athaide stated in the news
release. “Knud Jepsen is a remarkable partner, having over 80 years of
experience in R&D and cultivating plants in millions of square feet. As we
roll out multiple phases of our JV and plan to increase the partnership to
multiple countries across Europe, leveraging Knud Jepsen’s expertise as
operators, and our expertise in cannabis will be critical to TGOD’s expansion
throughout the continent. The partnership will allow TGOD to focus on building
global sales and distribution channels, developing proprietary and patentable
IP, and furthering brand equity.”
To view the full press release, visit http://ibn.fm/aHUx0
About The Green Organic Dutchman Holdings Ltd.
The Green Organic Dutchman Holdings Ltd. is a publicly
traded, premium global organic cannabis company, with operations focused on
medical cannabis markets in Canada, Europe, the Caribbean and Latin America, as
well as the Canadian adult-use market. The company grows high quality, organic
cannabis with sustainable, all-natural principles. TGOD’s products are
laboratory tested to ensure patients have access to a standardized, safe and
consistent product. TGOD has a funded capacity of 170,000kgs and is building
1,382,000 sq. ft. of cultivation facilities across Ontario, Quebec and Jamaica.
For more information, visit the company’s website at www.TGOD.ca.
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