- TGOD’s
49.18 percent interest in Jamaican cannabis company Epican includes
cultivation, extraction, manufacturing facilities and retail distribution
licenses
- Expansion
of production capacity on the 100-acre site is timed to build inventory by
up to 14,000 kg to meet forecast retail demand
- Flagship
Kingston retail location continues to increase in month-over-month sales
growth
- Company
is testing the first high-tech medical cannabis vending machines using
built-in biometric security features
The Green Organic Dutchman Holdings Ltd. (TSX: TGOD) (OTCQX:
TGODF), a cannabis-focused research and development company, and its Jamaican
partner, Epican Medicinals Ltd. (“Epican”), are celebrating significant
milestones toward establishing a leadership position in the island nation’s
robust medical cannabis market. TGOD’s strategic partnership with Epican, first
announced in June 2018 as an investment for a 49.18 percent interest in the
company, serves the medical cannabis needs of Jamaica’s three million residents
and nearly 4.3 million tourists (http://ibn.fm/KHVxG).
The relationship has been marked by nonstop highs for the partners,
Brian Athaide, director and CEO of TGOD, stated in a news release (http://ibn.fm/PeHCP). Highlights
of an eventful 2018 are reviewed in the release, which includes praise for the
founders of Epican – brothers Dwayne and Karibe McKenzie – as the Jamaican
cannabis company continues to break new ground in the Caribbean island nation.
The McKenzie brothers have been at the forefront of Jamaica’s burgeoning
medical cannabis industry for years, securing the island’s historic first
license to cultivate cannabis, according to an article in The
Gleaner (http://ibn.fm/DjKUw).
TGOD’s recent list of achievements with Epican includes
leasing a 100-acre parcel of land in Trelawny Parish to increase cannabis
production toward a 14,000 kg operation with the potential for further
expansion. This accelerated production capacity growth is designed to build
inventory in advance of expanding retail locations at several strategic sites
throughout Jamaica. Epican’s flagship site in Kingston continues to see
increased sales month-over-month, while its Montego Bay retail location is
awaiting authorization from the Cannabis Licensing Authority to open its doors.
TGOD is also pursuing GMP certification at its Kingston Lab to facilitate
global export to select international jurisdictions, as regulations permit.
“We have made incredible progress in Jamaica over
the past eight months,” Athaide stated in the release. “We plan to continue
opening stores throughout the country, increasing productive capacity, and
expanding our leadership in Jamaica. As Trelawny comes online in phases,
we will accelerate production to meet growing demand
within Jamaica and export product through TGOD’s distribution
channels in Mexico and beyond.”
Other highlights of the partnership include increasing
Epican’s employee base from 17 to 40; piloting an industry-first prescription
delivery program for registered medical patients that is expected to
dramatically reduce delivery times; and testing of the first high-technology
cannabis vending machines that utilize thumbprint scanners, ensuring product
access to authorized patients only. A prototype of the medical cannabis
dispensing machine is on display at an Epican retail location, and plans are in
place to add more machines once necessary approval is received from the
Cannabis Licensing Authority (http://ibn.fm/Ci3gi).
TGOD’s 49.18 percent Jamaican investment is an integral
component of the company’s international strategy, together with distribution
and operations in Europe, Latin America and North America.
TGOD was recently classified in an institutional equity research report
by CIBC World Markets as one of the few small- and
medium-sized businesses that have what it takes to lead the new global cannabis
market (http://ibn.fm/iv9IE).
For more information, visit the company’s website at www.TGOD.ca
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