- A zoning settlement for the company’s cannabis greenhouse in Ontario is finalized and approved
- The company’s supply agreement with British Columbia has been signed
- TGOD entered the U.S. market through a cornerstone investment in Califormulations LLC
- The company will release first quarter 2019 earnings results after market close on May 14, 2019, and will hold a webcast before market open on May 15, 2019
The Green Organic Dutchman Holdings Ltd. (TSX: TGOD) (OTCQX: TGODF) seems to have all the right boxes ticked as it pursues a relentless quest to become the world’s leading provider of organic cannabis. Licensed under the Access to Cannabis for Medical Purposes Regulations (“ACMPR”), the Hamilton, Ontario-based company has a planned global capacity of 219,000kg and is building 1,643,000 sq. ft of cultivation and processing facilities across Canada and Jamaica, with the option to expand further in Denmark. That planned production moved closer to actuality after the company got the green light for its proposed greenhouse in Ancaster, Ontario. Product cultivated in this new facility likely won’t stay in inventory for long. TGOD recently signed a supply agreement with the British Columbian government, in addition to the company’s next move, entering the U.S. CBD beverage market. TGOD plans to release its first quarter 2019 earnings results after market close on May 14, 2019, and it will host an earnings call on May 15, 2019, at 9:00 am ET (http://cnw.fm/lN95j).
TGOD has confirmed that it has finalized and signed a settlement offer with the Hamilton City Council, which was approved by the Local Planning Appeal Tribunal at a meeting on May 2, 2019 (http://cnw.fm/8Mhy6). Its proposed greenhouse in Ancaster, Ontario, designed for the production of premium certified organic cannabis, will have an annual capacity of 17,500kg. Lying close to Niagara, Ancaster is known for its easily accessible water power, which makes electricity generation relatively inexpensive. The company has an agreement with Eaton Corp., the $36 billion global power management company, under which Eaton, by providing research and optimization, will allow TGOD to have some of the lowest electricity input costs in the business. As a result, the Ontario facility is expected to produce at a power rate of $0.045 k/Wh, while the Quebec operation will produce at a power rate of $0.035 k/Wh.
The company has already secured the Ontario market. Earlier this year, TGOD signed an agreement with the Ontario Cannabis Retail Corporation (“OCRC”) (http://cnw.fm/xNzY0). The OCRC is a Canadian Crown corporation, established to be a monopoly, which operates the only legal online store for recreational cannabis in Ontario. The OCRC is set to become the wholesaler of cannabis for private retail stores in the province of Ontario.
TGOD has signed a similar deal with the government of British Columbia (http://cnw.fm/Um5vH). The company recently announced a cannabis supply agreement with the British Columbia Liquor Distribution Branch (“BCLDB”). The BCLDB, under the brand ‘BC Cannabis Stores’, is British Columbia’s public retailer of non-medical cannabis. “To negotiate the agreement, TGOD partnered with Velvet Management Inc., a wholly owned subsidiary of Phillipe Durand Wines, one of Canada’s prominent wine distributors. Velvet Management, through Phillipe Dandurand Wines, provides TGOD with national sales and distribution capabilities to provincial liquor and cannabis boards.”
TGOD has also announced its entry into the U.S. beverage market (http://cnw.fm/YoWa4). “The Company has established a joint partnership, Califormulations LLC, with Symrise AG, a global supplier of a global supplier of fragrances, flavorings, raw materials, as well as functional & cosmetic active ingredients.” The new subsidiary, which will be based in Columbus, Georgia, will provide global branded companies with concept-to-shelf beverage commercialization support, including formulation development, technical services, in-house pilot scale production and contract manufacturing coordination. Califormulations will also expedite and facilitate the U.S. launch of TGOD-branded organic hemp-based CBD beverages.
For more information, visit the company’s website at www.TGOD.ca
NOTE TO INVESTORS: The latest news and updates relating to TGODF are available in the company’s newsroom at http://cnw.fm/TGOD
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