Received inaugural purchase order from British Columbia
Advancing TGOD's access to retail locations with the addition of British Columbia's 163 stores
Ability to distribute to a total of 527 retail outlets across five provinces
Obtained licence amendment from Health Canada to start cultivation operations at Valleyfield's hybrid greenhouse
The addition of British Columbia means that TGOD now has the ability to distribute its products to a total of 527 retail locations across five provinces, or 82% of Canada's current store count. With the number of cannabis stores poised to increase from 639 to over a thousand in 2020, the Company is continuing to strategically develop and nurture solid relationships with provincial boards and retailers, cementing its position as the leading certified organic brand.
"TGOD's high-quality certified organic product and commitment to sustainable cultivation practices resonate with BC consumers. Based on the exceptionally positive feedback we received from our BC medical patients as well as on market research, we believe the province represents an enormous market opportunity for our brand," commented Brian Athaide, CEO of TGOD. "As we continue ramping up production, we remain focused on expanding our distribution channels and achieving our goal of distributing nationally in Q1 2020."
Valleyfield Hybrid Greenhouse TGOD has obtained a licence amendment from Health Canada, allowing cultivation to start in two zones within its flagship hybrid greenhouse located in Valleyfield, Quebec. Measuring a total of 46,500 square feet, these 2 zones mark the start of the Company's cultivation operations inside the state-of-the-art hybrid greenhouse. The Company is in the process of submitting an application for the rest of the greenhouse and remains on track to add another four zones, in line with its most recent plan for Valleyfield Phase 1, which includes a total of six zones and is expected to yield 10,000 kilograms in 2020.
As the market continues to develop, TGOD will have the ability to quickly scale up production at Valleyfield. The Company's hybrid greenhouse contains a total of 24 zones which, once licensed, will only require the installation of the cultivation fit out.
About The Green Organic Dutchman Holdings Ltd. The Green Organic Dutchman Holdings Ltd. /zigman2/quotes/206870535/delayed CA:TGOD -1.39% (us-otc:TGODF) is a premium certified organic cannabis company focused on the health and wellness market. Its certified-organic cannabis is grown in living soil, as nature intended. The Company is committed to cultivating a better tomorrow by producing its products responsibly, with less waste and impact on the environment. Its two Canadian facilities are built to LEED certification standards and its products are sold in recyclable packaging. In Canada, TGOD plans to expand its product portfolio by launching a series of next-generation cannabis products such as organic teas, infusers and vapes. Through its European subsidiary, HemPoland, the Company also distributes premium hemp CBD oil in Europe. By leveraging science and technology, TGOD harnesses the power of nature from seed to sale.
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.
For more information on The Green Organic Dutchman Holdings Ltd., please visit www.tgod.ca .
Forward-Looking Information Cautionary Statement This news release includes statements containing certain "forward-looking information" within the meaning of applicable securities law ("forward-looking statements"). Forward looking statements in this release includes, but is not limited to, statements about the availability of the Company's products at the BCLDB or other retailers, plans to offer certain products to various provinces, statements about future production capacity, statements about the receipt of any regulatory permits or licences, statements about the offering of any particular products by the Company in any jurisdiction and statements regarding the future performance of the Company. Forward-looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
Neither the TSX nor the TSX's Regulation Services Provider (as that term is defined in the policies of Toronto Stock Exchange) accept responsibility for the adequacy or accuracy of this release.
SOURCE The Green Organic Dutchman Holdings Ltd.
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