Green Organic Dutchman Holdings Ltd OTCMKTS: TGODF 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 EU. 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 capacity of 219,000 kgs and is building 1,643,600 sq. ft. of cultivation and processing facilities across Ontario, Quebec, Jamaica and Denmark.
TGOD’s Common Shares and warrants issued under the indenture dated November 1, 2017 trade on the TSX under the symbol “TGOD” and “TGOD.WT”, respectively.
Green Organic Dutchman Holdings Ltd OTCMKTS: TGODF On May 14, 2019 announce that it has obtained approval from Health Canada, under the Cannabis Regulations, to expand operations into its new state-of-the-art building located in Hamilton, Ontario. The 20,000 square feet indoor facility is going to be used for cannabis cultivation; planting will start in the coming weeks.
“This is yet another important milestone for our team as we continue to ramp up production with a focus on executional excellence,” commented Brian Athaide, CEO of TGOD. “We have pioneered the concept of sustainably growing all-natural, certified organic cannabis at scale. The product we are able to offer Canadians is clean, pesticide-free and undeniably premium.”
The newly built facility is the second of three buildings at TGOD’s Hamilton site, which will have a total size of 166,000 square feet when all are completed later this summer, and an annual production capacity of 17,500 kgs.
The Company is also seeking an eGMP certification for this facility in order to allow for global exports, as laws and regulations permit.
Green Organic Dutchman Holdings Ltd OTCMKTS: TGODF On May 14, 2019 report its financial and operational results for the three months ended March 31, 2019.
“Q1 results are continued proof that we are delivering on our business plan with executional excellence,” commented Brian Athaide, CEO of TGOD. “The Company is now bringing to market high quality, premium certified organic cannabis flower and hemp-derived CBD oils. 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,” continued Athaide.
Is on-track with construction at Hamilton and Valleyfield sites, with investment amounting to $46.9 million in the first quarter of 2019, an increase of $7.4 million compared to $39.5 million incurred in the fourth quarter 2018.
Achieved revenues primarily from HemPoland of $2.4 million, a 28% increase over the prior quarter.
Launched its Grower’s Circle on March 25th, 2019, commencing direct to patient medical sales in Canada with products from its existing Hamilton facility. However, the Company did not record any material revenue from Canada in the period as it completed a small number of shipments prior to the end of March with the bulk of the March orders being shipped in April 2019 and therefore being recognized in the second quarter of 2019.
Ended the quarter with a strong balance sheet and liquidity, including $224.4 million of cash and restricted cash to continue funding its facilities expansion as well as for operating costs and international growth.
Experienced a net loss of $14.1 million as it continues its preparation for commercial production and entry into the recreational market later this year. The net loss improved by $4 million compared to the previous quarter as a result of increasing sales in Poland and stronger net results from Epican in Jamaica rolling into TGOD’s financials; management also maintained a disciplined approach to operational costs as it ramps up for commercialization of the products in Canada.