Green Organic Dutchman Holdings Ltd OTCMKTS: TGODF Reports Q1 Fiscal 2019 Results


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 report its financial and operational results for the three months ended March 31, 2019.

The Company:

Reached a settlement for cannabis zoning with the City of Hamilton for the Hamilton facility, paving the way to growing at scale in the City.
Progressed business development activities, demonstrated by the partnership with Symrise in Califormulations announced subsequent to quarter end, which accelerates the company’s plans to participate in the $20 billion U.S. functional beverage category, including wellness, energy and sport recovery. These capabilities make the Company a stronger potential partner for global beverage and CPG companies.
Added deep pharmaceutical and medical experience to its team with the additions of Jacques Dessureault and Dr. Caroline MacCallum to its Board of Directors, and Dr. Rav Kumar as its Chief Science Officer.
Entered into purchase agreements for multiple EnWave 120kW REV machines, accelerating the drying process and overall seed to sale process for the Company.
Entered into an extraction agreement with Valens for the processing, extraction and purification of TGOD’s cannabis and hemp biomass under conditions specified by the Company. TGOD will supply Valens with significant quantities of cannabis and hemp while Valens will provide extraction purification services, processing the cannabis and hemp into premium quality resins and distillates.
Advanced its discussions with provincial boards, executing supply agreements with the Ontario Cannabis Store in February and BC Cannabis Store in May.
Achieved its second organic certification for the Hamilton Facility from Pro-Cert.

Management Commentary

“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.