- Multi-year
extraction services agreement with Valens GroWorks Corp. expected to
accelerate TGOD’s Canadian hemp strategy and market entry
- TGOD
is committed to producing premium, certified organic, consumer-preferred
products
- Production
strategy calls for 80,000 kg of cultivation by end of 2019
Cannabis-focused research and development company The Green Organic Dutchman Holdings Ltd. (TSX: TGOD) (OTCQX:
TGODF) is moving quickly to take advantage of Canada’s nascent legal
cannabis market, which is expected to include CBD-infused products by October
2019. TGOD’s recently announced entry into a multiyear extraction services
contract with Valens GroWorks Corp. (CSE: VGW) (OTCQB: VGWCF) underscores the
company’s focus on meeting a growing need to furnish high-quality, premium
organic cannabis products to Canadian consumers, according to a news
release (http://ibn.fm/92NET).
“The ability to partner with skilled and specialized
extraction operators such as Valens will add significant bench strength to
TGOD’s already robust extraction capabilities in
Canada, Poland and Jamaica,” Brian Athaide, director and CEO of
TGOD, stated in a news release. “We believe the importance of high-quality
cannabis oils will continue to greatly increase as patients and consumers look
for safer and healthier delivery methods.”
The agreement with Valens, a licensed provider of cannabis
products and services specializing in various proprietary extraction,
distillation, cannabinoid isolation and purification technologies, will
accelerate TGOD’s Canadian hemp strategy and allow for early market entry of
TGOD’s organic hemp-derived CBD product lines within the coming months. Under
the terms of the initial two-year agreement, Valens will process, extract and
purify TGOD’s cannabis and hemp biomass under conditions specified by TGOD, as
demanded by final product manufacturing and formulation requirements.
“We are excited to work with
TGOD, Canada’s premier certified organic producer,” Tyler Robson, CEO
of Valens, added in the release. “Organic resonates with consumers, and Valens
looks forward to helping accelerate TGOD’s time to market with the launch of
its hemp-derived CBD product line in the coming months.”
Approximately 76 percent of Canadians responding to a recent
national cannabis survey prepared by Statistics Canada identified quality and
safety as their main concerns when choosing where to purchase cannabis (http://ibn.fm/FsWkI). TGOD
cannabis is grown in soil, without synthetic fertilizers, herbicides or
pesticides; is never irradiated; and has been certified organic by Pro-Cert
Organic Systems Ltd., one of North America’s foremost certification bodies and
the second certification body to endorse TGOD’s organic process at its
Hamilton, Ontario, facility (http://ibn.fm/DvL18).
TGOD will supply Valens with significant quantities of
cannabis and hemp, and Valens will provide extraction purification services
processing the cannabis and hemp into premium quality resins and distillates.
TGOD intends to use the concentrated cannabinoid resins and distillates to
produce oils, sprays and capsules, as well as oils for vaporization and future
edible, beverage and topical products. TGOD has been working closely with
Valens to help expedite the pathway to organic certification for Valens organic
processing methodologies. Upon certification, TGOD will have exclusive access
to services provided by Valens for certified organic extraction processing for
a period of one year.
The demand for non-intoxicating, hemp-derived CBD products
has been strong and supported through significant patient and consumer
research. Being first to market in Canada with organically-certified,
hemp-derived CBD products could allow TGOD to capture organic CBD market share,
securing future growth in this newly legalized cannabinoid vertical (http://ibn.fm/1yOV1).
For more information, visit the company’s website at www.TGOD.ca
NOTE TO INVESTORS: The latest news and updates
relating to TGODF are available in the company’s newsroom at http://ibn.fm/TGODF
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