The Green Organic Dutchman Holdings (TSX: TGOD) (OTCQX: TGODF), a leading producer of premium, certified-organic cannabis, on Tuesday released its results for the fourth quarter and fiscal year ended December 31, 2019. Among the highlights, the company posted $3.25 million in quarterly revenue ($11.16 million for the year) consisting of hemp-derived product sales in Europe of $2.56 million ($9.88 million for the year) and sales from cannabis products in Canada of $0.69 million ($1.28 million for the year). “While 2019 was a challenging year for the entire sector, we have made significant progress on the operational front and adjusted our construction and operating plan to preserve shareholder capital and in light of changing market conditions,” TGOD CEO Brian Athaide said in the news release. “Despite taking impairment charges this quarter, as we continue to evaluate financing options, we note that the value of our assets still far exceeds our liabilities. With our first 2.0 product, TGOD Infusers, now available, our teas and vapes launching next month, as well as additional launches planned later this year, we anticipate continued sales momentum for the rest of 2020.”
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About The Green Organic Dutchman Holdings Ltd.
The Green Organic Dutchman (TSX: TGOD) (OTCQX: 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. For more information on The Green Organic Dutchman Holdings Ltd., please visit www.TGOD.ca.
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