The Green Organic Dutchman Holdings Ltd.
(the
“Company” or
“TGOD”) (TSX:TGOD,
US:TGODF) is pleased to announce, in conjunction with Epican
Medicinals (“Epican”), the successful opening of its first legal
cannabis retail store in Jamaica, on Saturday, July 14th. This
flagship location provides Epican and TGOD with immediate revenue
from the sale of premium Jamaican grown organic cannabis and
further exemplifies TGOD’s value-added approach to partnerships.
The ~4,000 sq. ft. flagship dispensary in Kingston represents
the first of several Epican Herb Houses scheduled to be completed
across Jamaica by the end of 2018. These locations will serve the
medical needs of Jamaica’s 3 million residents and over 3.5 million
visitors each year.
“Immediate revenue has always been an important component of
Epican business plan,” said TGOD CEO, Brian Athaide. “We expect
Epican to increase revenues significantly in the coming months as
production increases and more Herb Houses come online.” TGOD
investments are structured as true partnerships, where portfolio
companies receive support and industry leading knowledge. This
knowledge transfer includes cultivation methodology, extraction,
R&D, and organic certification, through to accounting,
auditing, sales, marketing, and distribution.
Jamaica is recognized as a premier destination for cannabis, and
Epican has deep roots in the country. The founders of the business,
the McKenzie brothers, have been at the forefront of the nation’s
burgeoning medical cannabis industry, including advocacy for the
responsible development of the industry. Epican was awarded the
country’s historic first cultivation licence.
See photo here.
“Today is a celebratory day for Epican and TGOD,” said Karibe
McKenzie, CEO of Epican. “We have worked tirelessly to provide an
end to end, fully integrated solution delivering high-quality
cannabis to Jamaicans and tourists alike. We were delighted at the
response and look forward to building off this positive momentum
and launching several more Herb Houses by the end of 2018.”
“The Kingston dispensary is an important step in TGOD’s global
strategy,” said Csaba Reider, President of TGOD. “Commercializing
legalized, high-quality, organic medical cannabis to the market is
proof of our commitment to portfolio companies and our ability to
go beyond cash infusion. The Epican team are great business
partners and we would like to thank all those involved who have
made this day happen.”
TGOD owns 49.18% of Epican. The partnership will provide 14,000
kgs of TGOD’s total funded capacity of 170,000 kgs. TGOD will
provide Epican access to its financing facilities to support future
expansion requirements. Epican and TGOD are partnering to construct
a 150,000 sq. ft. GMP compliant facility in Jamaica. Upon receiving
the license for this site expansion, Epican will cultivate premium
strains for Jamaican and international markets.
On Behalf of the Board of Directors,
The Green Organic Dutchman Holdings Ltd.
ABOUT THE GREEN ORGANIC DUTCHMAN HOLDINGS LTD.
The Green Organic Dutchman Holdings Ltd. is a research &
development company licensed under the Access to Cannabis
for Medical Purposes Regulations (“ACMPR”) to cultivate
medical cannabis. The Company carries out its principal activities
producing cannabis from its facilities in Ancaster, Ont., pursuant
to the provisions of the ACMPR and the Controlled
Drugs and Substances Act (Canada) and its regulations.
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 funded capacity of 170,000 kg
and is building 1,382,000 sq. ft. of cultivation facilities in
Ontario, Quebec and Jamaica.
The Company has developed a strategic partnership with Aurora
Cannabis Inc. (TSX:ACB) whereby Aurora has invested approximately
C$78.1 million for an approximate 17.5% stake in TGOD. In addition,
the Company has raised approximately C$315 million and has over
20,000 shareholders.
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.
CONTACT INFORMATION
Investor Relations Email: invest@tgod.ca Phone: 1
(416) 900-7621
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 future legalization of recreational cannabis
and cannabis-infused products in Canada, statements about future
research, development and innovation by the Company, 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 TSX nor its 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.
Aurora Cannabis (TSX:ACB)
Historical Stock Chart
From Aug 2024 to Sep 2024
Aurora Cannabis (TSX:ACB)
Historical Stock Chart
From Sep 2023 to Sep 2024