- The
Green Organic Dutchman has applied for listing of its common shares on the
Nasdaq
- The
company announced quarterly and half-yearly financial and operational
results for the periods ended June 30, 2019
- Progress
of its construction efforts at two sites was included on a list of
corporate highlights
The Green Organic Dutchman Holdings Ltd. (TSX: TGOD) (OTCQX:
TGODF) recently announced that it has applied for a listing of its
common shares on the Nasdaq. The listing will require numerous regulatory
moves on the part of the company, including registration of the common shares
and a confirmation by the Nasdaq that TGOD has met all applicable listing requirements.
“This is an important step in the growth of TGOD, one that
will broaden our investor base and increase access for international investors
as we build the leading global organic cannabis brand,” TGOD CEO Brian Athaide
stated in a news release (http://ibn.fm/JX1Ky).
“Our team remains focused on executing our business plan and creating value for
our shareholders.”
In addition to its Nasdaq application, TGOD announced its
financial and operational results for the period ended June 30, 2019 (http://ibn.fm/9IIRc). “Q2 was
pivotal for the company as we began commercial production in the second phase
of our Hamilton site and expanded our product line for the Grower’s
Circle,” Athaide continued.
Highlights of the company’s operations and performance
during the quarter included the following:
- Construction
of the company’s Hamilton site and phase 1 at its Valleyfield site are
nearing completion. The investment value reached $53.1 million in the
second quarter of 2019, with total investments for the year amounting
to $100.9 million.
- TGOD
achieved a revenue increase of 20 percent over the prior quarter, with
revenues amounting to $2.9 million and stemming primarily from the
European markets. The company reported a net loss of $16.6
million for Q2 2019 but continues to maintain fiscally responsible
practices.
- The
company launched its Grower’s Circle project in Canada, which is currently
testing the company’s sales and distribution capabilities.
Athaide commented on his team’s commitment to executing its
“ambitious” business plan, realizing double digit quarterly growth in Europe
and nearing the end of its construction project in Canada. “The product quality
feedback from Grower’s Circle has been overwhelmingly positive, confirming that
patients appreciate having access to premium certified organic cannabis, an
underserved segment of the market,” Athaide added (http://ibn.fm/rjzBY). “We now
have our first purchase order from the OCS in hand and look forward to shipping
our first recreational sales this week.”
The Green Organic Dutchman produces organic, pesticide-free
cannabis using crafting techniques in farming. The company envisions becoming a
global leader in providing premium-quality cannabis products that improve the
lives of its customers. The company currently conducts operations in the
medical cannabis markets of Canada, Europe, the Caribbean
and Latin America.
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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