- Recently released Q3 2018 results provide evidence of production capacity enhancement and strengthening of the company’s international position
- To support its growth, The Green Organic Dutchman has also hired a number of reputable senior executives to fill key positions in the management team
- Milestones achieved throughout 2018 have granted the company a positive review from one of the world’s leading global investment banking entities
- Recent passage of the U.S. government’s farm bill legalizes hemp production
Recent company announcements reveal the numerous important milestones that The Green Organic Dutchman Holdings Ltd. (TSX: TGOD) (OTCQX: TGODF), a cannabis-focused research and development company, has managed to fulfill in 2018.
- Through the year, the company continued constructing its Hamilton, Ontario, and Valleyfield, Quebec, facilities. In the third quarter of 2018 alone, TGOD deployed $33 million in capital expenditure for this purpose. The company has also focused on optimizing commercial cultivation at its operational facility in Hamilton. The development of five new strains for placement on both the medical and the recreational markets will soon enable The Green Organic Dutchman to provide customers with consistently reliable services.
- In addition, The Green Organic Dutchman is focusing on the expansion of its international footprint. On October 1, 2018, TGOD finalized the HemPoland acquisition, gaining access to established production and sales of CBD oil and industrial hemp products across Europe (http://cnw.fm/h0L0h).
- Also in October, TGOD announced a strategic joint venture with LLACA Grupo Empresarial to create a 50/50-owned company to enter the medicinal cannabis market in Mexico (http://cnw.fm/wJl0D). The agreement will give The Green Organic Dutchman access to a network of 4,500 pharmacies and 3,100 supermarkets throughout Mexico.
- The company invested in Jamaica, as well, through Epican Medicinals (http://cnw.fm/kcH7Y). Sales are currently being run via its store in Kingston, and further expansion via four additional retail stores is anticipated. The Jamaican expansion is expected to increase production capacity by 14,000 kilograms.
With these improvements, The Green Organic Dutchman is anticipating its annual capacity across Canada and Jamaica to reach 170,000 kilograms. The scalable hemp capacity in Poland will add to the company’s international strategic advantage.
These expansion efforts have created a need for the strengthening of The Green Organic Dutchman team. In October 2018, Sean Bovingdon joined TGOD as the company’s new CFO. Bovigndon has over 30 years of experience in the financial management of both public and private companies (http://cnw.fm/nQBw9).
In November 2018, the company announced new additions to its senior management team in an attempt to fortify marketing and compliance efforts. Emily Demeo was appointed as the company’s marketing brand director and Terry Reid was chosen for the legal and compliance director position. Both experts have significant experience and an excellent reputation in their respective fields.
Because of these strategic milestones, TGOD earned a ‘Buy’ rating from Canaccord Genuity – a top investment bank whose analysts believe that the company deserves a speculative buy rating and a price target of C$7.00 ($5.40), almost double the present value (http://cnw.fm/9Hq5F).
The Cannacord Genuity analysis points out that The Green Organic Dutchman differentiates itself from the competition on the basis of its organic production.
A recent survey suggests that 43 percent of Canadian recreational cannabis users prefer organic products over standard options. Based on this information, The Green Organic Dutchman’s production capacity is expected to translate to annual revenue in the range of $1.1 to $1.4 billion.
In addition, the recently announced U.S. passage of a comprehensive farm bill provides for the legalization of hemp production in the U.S., opening the door to even greater growth for the hemp industry in general. With presidential approval and imports being eventually allowed, TGOD could be able to export product from HemPoland into the U.S.
The Green Organic Dutchman is a premium organic cannabis company with operations focusing on the legal medicinal and recreational cannabis markets in Canada, Europe and Latin America. The company follows sustainable, all-natural principles in its cannabis production. All TGOD products are laboratory tested to ensure quality, standardization and safety.
For more information, visit the company’s website at www.TGOD.ca
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