Cannabis-focused research and development company The Green Organic Dutchman Holdings (TSX: TGOD) (OTCQX: TGODF) today released a detailed construction update on its domestic Valleyfield and Hamilton operations that reflects significant progress toward the completion of both facilities. According to the update, as a result of a recently-identified need for design modifications in the construction process, the engineering improvements enable optimized facility throughput that, combined with organic specific modifications, provide an increased domestic productive capacity forecast from 156,000 kg to 202,500 kgs. The updated construction plan requires increased capital expenditures of approximately $30 million for the completion of the structures and an additional three months for start-up in Valleyfield. The added expenditures and improvements for the larger processing facility and operating enhancements to increase capacity will be incrementally phased in and are expected to be funded from operational cashflow. In addition to the construction update, TGOD announced that the Growers Circle launch remains on schedule, with medical patients across the country to receive first shipments of premium, certified organic cannabis this month. “Not only have we addressed the important redesign requirements, we have also made significant improvements to the operating capacity and capital timing of our facilities, resulting in an additional 46,500 kgs of productive capacity,” TGOD CEO Brian Athaide stated in the news release. “This allows us to bring additional product to both Canadian consumers and global markets. We are also excited to supply our first patients in the Growers Circle with premium organic cannabis this month, generating our first domestic revenues.”
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About The Green Organic Dutchman Holdings Ltd.
The Green Organic Dutchman Holdings Ltd. is a publicly traded, premium global organic cannabis company, with operations focused on medical cannabis markets in Canada, Europe, the Caribbean and Latin America, as well as the Canadian adult-use market. 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 planned global capacity of 219,000 kgs and is building 1,643,600 sq. ft. of cultivation and processing facilities across Ontario, Quebec, Jamaica and Denmark. For more information, visit the company’s website at www.TGOD.ca
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