Cannabis-focused research and development company The Green Organic Dutchman Holdings Ltd. (TSX: TGOD) (OTCQX: TGODF) this morning announced its decision to add a 287,245 sq. ft. purpose-built facility on its Valleyfield property capable of producing 40,000 kg of premium organic cannabis. Per the update, this new facility will be dedicated to the company’s beverage division, and it will increase TGOD’s fully-funded capacity to 170,000 kg. TGOD intends to use excess cash raised in its IPO and subsequent bought deal financings to fund the construction of this new facility. “With the legalization of cannabis announced on June 20th, and Premier Justin Trudeau setting the legalization date of October 17th, the path is paved. The time is now to dedicate infrastructure, services and expertise to developing proprietary products,” Csaba Reider, president of TGOD, stated in the news release. “This is just another step for TGOD in its business plan of creating a distribution hub for large-scale beverage and edible products which can be introduced in Canada and internationally… We believe that the beverage and edible market will be the largest single segment of the cannabis market.”
To view the full press release, visit http://nnw.fm/X7NnZ
About the Green Organic Dutchman Holdings Ltd.
The Green Organic Dutchman Holdings Ltd. is a research & development company licensed under the Access to Cannabis for Medical Purposes Regulations (“ACMPR”) to cultivate medical cannabis. The company carries out its principal activities producing cannabis from its facilities in Ancaster, Ont., pursuant to the provisions of the ACMPR and the Controlled Drugs and Substances Act (Canada) and its regulations. The company grows high quality, organic cannabis with sustainable, all-natural principles. TGOD’s products are laboratory tested to ensure patients have access to a standardized, safe and consistent product. TGOD has a funded capacity of 116,000 kg and is building 970,000 sq. ft. of cultivation facilities in Ontario and Quebec. The company has developed a strategic partnership with Aurora Cannabis Inc. (TSX: ACB) whereby Aurora has invested approximately C$78.1 million for an approximate 17.5% stake in TGOD. In addition, the company has raised approximately C$315 million dollars and has over 5,000 shareholders. TGOD’s Common Shares and warrants issued under the indenture dated November 1, 2017 trade on the TSX under the symbol “TGOD” and “TGOD.WT”, respectively. For more information, visit the company’s website at www.TGOD.ca
More from NetworkNewsBreaks
NetworkNewsWire (NNW) is a financial news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with NNW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
For more information, please visit https://www.NetworkNewsWire.com