- TGOD’s 49.18 percent interest in Jamaican cannabis company Epican includes cultivation, extraction, manufacturing facilities and retail distribution licenses
- Expansion of production capacity on the 100-acre site is timed to build inventory by up to 14,000 kg to meet forecast retail demand
- Flagship Kingston retail location continues to increase in month-over-month sales growth
- Company is testing the first high-tech medical cannabis vending machines using built-in biometric security features
The Green Organic Dutchman Holdings Ltd. (TSX: TGOD) (OTCQX: TGODF), a cannabis-focused research and development company, and its Jamaican partner, Epican Medicinals Ltd. (“Epican”), are celebrating significant milestones toward establishing a leadership position in the island nation’s robust medical cannabis market. TGOD’s strategic partnership with Epican, first announced in June 2018 as an investment for a 49.18 percent interest in the company, serves the medical cannabis needs of Jamaica’s three million residents and nearly 4.3 million tourists (http://nnw.fm/Rg69A).
The relationship has been marked by nonstop highs for the partners, Brian Athaide, director and CEO of TGOD, stated in a news release (http://nnw.fm/6kWmn). Highlights of an eventful 2018 are reviewed in the release, which includes praise for the founders of Epican – brothers Dwayne and Karibe McKenzie – as the Jamaican cannabis company continues to break new ground in the Caribbean island nation. The McKenzie brothers have been at the forefront of Jamaica’s burgeoning medical cannabis industry for years, securing the island’s historic first license to cultivate cannabis, according to an article in The Gleaner (http://nnw.fm/oZUb4).
TGOD’s recent list of achievements with Epican includes leasing a 100-acre parcel of land in Trelawny Parish to increase cannabis production toward a 14,000 kg operation with the potential for further expansion. This accelerated production capacity growth is designed to build inventory in advance of expanding retail locations at several strategic sites throughout Jamaica. Epican’s flagship site in Kingston continues to see increased sales month-over-month, while its Montego Bay retail location is awaiting authorization from the Cannabis Licensing Authority to open its doors. TGOD is also pursuing GMP certification at its Kingston Lab to facilitate global export to select international jurisdictions, as regulations permit.
“We have made incredible progress in Jamaica over the past eight months,” Athaide stated in the release. “We plan to continue opening stores throughout the country, increasing productive capacity, and expanding our leadership in Jamaica. As Trelawny comes online in phases, we will accelerate production to meet growing demand within Jamaica and export product through TGOD’s distribution channels in Mexico and beyond.”
Other highlights of the partnership include increasing Epican’s employee base from 17 to 40; piloting an industry-first prescription delivery program for registered medical patients that is expected to dramatically reduce delivery times; and testing of the first high-technology cannabis vending machines that utilize thumbprint scanners, ensuring product access to authorized patients only. A prototype of the medical cannabis dispensing machine is on display at an Epican retail location, and plans are in place to add more machines once necessary approval is received from the Cannabis Licensing Authority (http://nnw.fm/BY7uQ).
TGOD’s 49.18 percent Jamaican investment is an integral component of the company’s international strategy, together with distribution and operations in Europe, Latin America and North America. TGOD was recently classified in an institutional equity research report by CIBC World Markets as one of the few small- and medium-sized businesses that have what it takes to lead the new global cannabis market (http://nnw.fm/kZ1xN).
For more information, visit the company’s website at www.TGOD.ca
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