HempNewsBreaks – The Green Organic Dutchman Holdings Ltd. (TSX: TGOD) (OTCQX: TGODF) Releases Q1 2021 Financial Report, Corporate Updates

May 13, 2021 08:57:26

The Green Organic Dutchman (TSX: TGOD) (OTCQX: TGODF), a leading producer of premium certified organically grown cannabis, announced its unaudited interim financial numbers for the quarter ended March 31, 2021, as well as key corporate updates. Financial highlights included revenue Q1 revenue of $8.98 million, an increase of 194% from Q1 2020 numbers; gross profit for the quarter reach $3.13 million, an increase of 83% over the same period during the previous year; and net income totaled $12.46 million. In addition, the company provided status reports on various business operations, including the company’s planned entry into the U.S. market, the sale of its Quebec facility and other key strategic initiatives designed to maximize shareholder value, which include the potential sale or spin-off for an IPO of HemPoland, TGOD’s wholly owned subsidiary, and the potential for mergers and acquisitions in the Canadian cannabis LP sector. In conjunction with the release of its financial numbers, TGOD announced an investor conference call and webcast to discuss the Q1 2021 report. The event is scheduled for May 13, 2021, at 10 a.m. ET. Anyone desiring to participate may dial 416-764-8688 in Toronto or 1-888-390-0546 in North America and use the conference ID 19888977. “This quarter’s improving financials demonstrate how we are strengthening TGOD’s foundations by executing our turnaround plan,” said TGOD CEO and interim CFO Sean Bovingdon in the press release. “From monetizing underutilized assets to streamlining our organizational structure and strengthening our balance sheet, our new leadership team is making great strides towards completing the transformation of TGOD into a profitable and agile organic cannabis producer that stands to benefit from accelerated growth in Canada and abroad with opportunities in Germany, Mexico, Australia and the United States. The achievement of net income reflects the positive outlook for our cash flows in relation to our right-sized operations. We look forward to the potential lifting of COVID restrictions as vaccinations increase, which will allow for better access for consumers to our organically grown quality products, that are now consistently achieving THC levels greater than 20%.”

To view the webcast, visit https://cnw.fm/ODgfS

To view the full press release, visit https://cnw.fm/15F93

About The Green Organic Dutchman Holdings Ltd.

The Green Organic Dutchman 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. For more information about the company, please visit 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/TGODF

About HempWire

HempWire (HW) is a dedicated information provider focused on (1) aggregating hemp-related news, (2) issuing HempNewsBreaks designed to update investors on the latest developments in the hemp market, (3) enhancing corporate news releases, (4) providing full-service distribution and social media offerings to public and private client-partners and (5) designing and implementing all-inclusive corporate communication solutions. HW is strategically positioned within the rapidly expanding hemp sector with a team of journalists working to help a growing roster of public and private companies reach a wide audience of investors, consumers and members of the media. We leverage a vast network of more than 5,000 key syndication outlets to deliver unparalleled visibility, recognition and content to the hemp industry. HempWire (HW) is where HEMP news, content and information converge.

To receive instant SMS alerts, text HEMPWIRE to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.HempWire.com

Please see full terms of use and disclaimers on the HempWire website applicable to all content provided by HW, wherever published or re-published: https://www.HempWire.com/Disclaimer

Do you have questions or are you interested in working with HW? Ask our Editor

HempWire (HW)
Denver, Colorado
303.498.7722 Office

HempWire is part of the InvestorBrandNetwork.