The
Green Organic Dutchman Holdings (TSX: TGOD) (OTCQX: TGODF), a leading
producer of premium certified organic cannabis, today announced its new
strategic plan to reduce its financing requirements while maintaining its path
to profitability. Per the update, the company intends to improve agility by
reducing capital requirements, establishing a simple way to scale up production
as more retail locations open and legal sales increase, and adapting to slower
legal market conversion by deferring excess capacity and expenses. TGODF also
maintains its objective to become EBITDA and operating cash flow positive by Q2
2020. “These actions are logical next steps in TGOD’s road to
profitability. While we are committed to – and our strategy continues to
leverage – our unparalleled scale as an organic producer as well as our
international assets, we have identified areas where our scale would not
provide for meaningful returns in the near term given the slower pace of legal
market conversion. We will optimize our operating efficiency by deferring
excess capacity and expenses, whether they center on production facilities,
international expansion projects or technology,” TGODF CEO Brian Athaide said
in the news release.
To view the full press release, visit http://ibn.fm/pRy5i
About the Green Organic Dutchman Holdings Ltd.
The Green Organic Dutchman Holdings 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. TGOD also has organic-hemp, CBD-oil operations
in Canada and, through its wholly owned subsidiary HemPoland, distributes premium-hemp
CBD oil in the European Union. The company grows high-quality,
certified-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 planned global capacity
of 219,000 kgs. and is building 1,643,000 square feet of cultivation and
processing facilities across Ontario, Quebec, Jamaica and Denmark. 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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