- The
Green Organic Dutchman has announced its intention of constructing nearly
1.4 million square feet of cannabis cultivation facilities
- The
company is growing to scale, steadily adding licenses, new facilities and
distribution agreements with foreign operations
- The
company recently received approval from Health Canada to begin cultivation
work in a 20,000-square-foot Ontario facility, the second of three planned
buildings where some 17,500 kilograms of cannabis are expected to be
produced
The Green Organic Dutchman Holdings Ltd. (TSX: TGOD) (OTCQX:
TGODF) is steadily building toward its stated goal of operating nearly
1.4 million square feet of cannabis cultivation facilities across Ontario,
Quebec and Jamaica (http://ibn.fm/Ifp1g),
receiving authorization from Health Canada earlier this month to expand
cultivation operations into a new 20,000-square-foot state-of-the-art building
located in Ontario (http://ibn.fm/i48xt).
The company is establishing a global profile with its
expansion into Europe while continuing to permeate the North American
continent. Its wholly owned subsidiary, HemPoland, advanced TGOD’s European
market aspirations this month through an agreement with Mediakos UG
haftungsbeschraenkt for the distribution of TGOD’s CannabiGold, a premium hemp
CBD brand, to the German pharmacy market (http://ibn.fm/FUxmz).
The Ontario facility, which is part of a complex containing
three buildings that will have a combined annual production capacity of 17,500
kilograms of cannabis once they are completed later this summer, will begin
planting in the near future. The Green Organic Dutchman expects to produce
about 200,000 kilograms (about 440,000 pounds) of cannabis every year when all
of its operations reach full capacity, growing to scale.
TGOD has been cultivating on a small scale in Ontario since
2016 and began distributing its first commercial crop to a small, exclusive
loyalty pool of patients and investors earlier this year. In Jamaica, home to a
great deal of cannabis tourism, TGOD has been operating a retail store, and its
rising sales volumes led the company to open a second legal cannabis retail
store in Montego Bay, the second-largest city in the country (http://ibn.fm/zH25f).
The company’s first quarter fiscal report noted that
investments grew over the previous quarter by $7.4 million. The report also
observed that revenues grew by 28 percent over the previous quarter to $2.4
million, primarily as a result of HemPoland’s activity.
“The Company is now bringing to market high quality, premium
certified organic cannabis flower and hemp-derived CBD oils,” CEO Brian Athaide
stated in a news release. “With the construction of the Hamilton facility
nearing completion and our flagship Valleyfield facility on track, TGOD will
soon be able to sell at scale in Canada and rapidly grow the organic segment
that is currently being significantly under-served by the market.”
The company’s partnership with Symrise also accelerates
plans to participate in the $20 billion U.S. functional beverage category,
including wellness, energy and sport recovery, the company reports. Meanwhile,
Mediakos UG is distributing a broad portfolio of products to a pharmacy network
with more than 15,000 members and a potential reach of over 10 million
customers.
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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