The Green Organic Dutchman Holdings (TSX: TGOD) (OTCQX: TGODF), a leading producer of premium, certified organically grown cannabis, today unveiled plans to monetize under-utilized assets at its Valleyfield site. In 2019 TGOD made the strategic decision to use its Valleyfield site as a processing hub while maintaining the option to start cultivation at a later date. According to the update, TGOD has now retained the services of a commercial real estate advisor to identify potential buyers for its Valleyfield site, focused on the state-of-the-art hybrid main greenhouse. Multiple bids are under consideration, and the transaction could result in a complete or partial sale of the site. “The Canadian cannabis landscape has evolved since legalization and so have our real estate requirements. With our shift to the value-added part of the production chain, large indoor cultivation facilities such as Valleyfield are no longer necessary to continue growing our business,” said Sean Bovingdon, TGOD’s chief financial officer and interim chief executive officer. “Selling a portion or the totality of the greenhouse will result in a significant reduction in operating costs while providing capital to reduce debt and reinvest in future growth opportunities, including considerations in the U.S.”
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About The Green Organic Dutchman Holdings Ltd.
The Green Organic Dutchman Holdings is a premium certified organically grown cannabis company focused on the health and wellness market. Its organic cannabis is cultivated 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 have been built to LEED certification standards and its products are sold in recyclable packaging. In Canada, TGOD sells dried flower and oil, and recently launched a series of next–generation cannabis products such as hash, vapes, organic teas and dissolvable powders. Through its European subsidiary, HemPoland, the company also distributes premium hemp CBD oil and CBD-infused topicals in Europe. By leveraging science and technology, TGOD harnesses the power of nature from seed to sale.
GOD’s common shares and warrants issued under the indentures dated November 1, 2017, December 19, 2019, June 12, 2020, October 23, 2020 and December 10, 2020 trade on the TSX under the symbol “TGOD,” “TGOD.WT,” “TGOD.WS,” “TGOD.WR,” “TGOD.WA” and “TGOD.WB”, respectively, and TGODF trades in the U.S. on the OTCQX. For more information about the company, please visit www.TGOD.ca.
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