Cannabis-focused research and development company The Green
Organic Dutchman Holdings (TSX: TGOD) (OTCQX: TGODF) today released a detailed
construction update on its domestic Valleyfield and Hamilton operations that
reflects significant progress toward the completion of both facilities.
According to the update, as a result of a recently-identified need for design
modifications in the construction process, the engineering improvements enable
optimized facility throughput that, combined with organic specific modifications,
provide an increased domestic productive capacity forecast from 156,000 kg to
202,500 kgs. The updated construction plan requires increased capital
expenditures of approximately $30 million for the completion of the structures
and an additional three months for start-up in Valleyfield. The added
expenditures and improvements for the larger processing facility and operating
enhancements to increase capacity will be incrementally phased in and are
expected to be funded from operational cashflow. In addition to the
construction update, TGOD announced that the Growers Circle launch remains on
schedule, with medical patients across the country to receive first shipments
of premium, certified organic cannabis this month. “Not only have we addressed the
important redesign requirements, we have also made significant improvements to
the operating capacity and capital timing of our facilities, resulting in an
additional 46,500 kgs of productive capacity,” TGOD CEO Brian Athaide stated in
the news release. “This allows us to bring additional product to both Canadian
consumers and global markets. We are also excited to supply our first patients
in the Growers Circle with premium organic cannabis this month, generating our
first domestic revenues.”
To view the full press release, visit http://ibn.fm/m5zOJ
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 planned global capacity of 219,000 kgs and is building 1,643,600 sq.
ft. of cultivation and processing facilities
across Ontario, Quebec, Jamaica and Denmark. For
more information, visit the company’s website at www.TGOD.ca
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