Cannabis-focused research and development company The Green Organic Dutchman Holdings Ltd. (TSX: TGOD) (OTCQX: TGODF) this morning announced its entry into a letter of intent for a 50/50 joint venture with Queen Genetics/Knud Jepsen A/S (“Knud Jepsen”), which is based in Hinnerup, Denmark. Per the update, the joint venture will initially consist of a 200,000 sq. ft. cannabis production facility located within Knud Jepsen’s 1.3 million sq. ft. state-of-the-art automated greenhouses in Denmark. Through this facility, TGOD will have an opportunity to increase its total organic funded capacity by roughly 25,000 kg. “We are very excited about entering the European market as the leader of international organic cultivation,” Robert Anderson, CEO of TGOD, stated in the news release. “Organic is one of our key differentiators, and when creating a catalog of higher margin products across varying delivery methods, organic inputs make a significant difference in the end product. This JV establishes TGOD’s product across Europe and increases our funded capacity to 195,000 kgs. This represents another significant step forward as we create the largest organic cannabis brand in the world.” Closing of this transaction remains subject to customary closing conditions.
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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
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