Facility to Employ Up To 85
HAMILTON, ON, March 28, 2019 /PRNewswire/ - The Green Organic Dutchman Holdings Ltd. (the "Company" or "TGOD") (TSX:TGOD) (US:TGODF) is pleased that Hamilton City Council has voted to approve the Company's settlement offer, to allow TGOD to operate its cannabis greenhouse in Ancaster, Ontario upon confirmation of the settlement by the Local Planning Appeal Tribunal at a meeting scheduled for April 25, 2019.
"This is tremendous news for our Company and for the city of Hamilton," said Brian Athaide, CEO and Director of TGOD. "We are a global company that has its roots in Hamilton, and we are looking forward to expanding our production of high-quality, organic cannabis right here in our home town. This is important to TGOD's ability to generate considerable near-term revenue while the Company continues to approach its global planned output of 219,000 kgs."
Once complete, the combined facilities in Ancaster, Ontario will be capable of growing 17,500 kgs of organic cannabis annually. The newly constructed, LEED-designed purpose-built greenhouse is expected to begin growing by June and employ up to 85 people.
"We are committed to this city and we look forward to working with Council on achieving its goal of creating a Life Sciences Centre of Excellence in Hamilton. It has been a challenging year," Athaide said, "but throughout it all, we have been encouraged by the hundreds of expressions of support from our neighbours, local businesses and the community."
About The Green Organic Dutchman Holdings Ltd.
The Green Organic Dutchman Holdings Ltd. (TSX:TGOD) 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 capacity of 219,000 kgs and is building 1,643,600 sq. ft. of cultivation and processing facilities across Ontario, Quebec, Jamaica and Denmark.
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 on The Green Organic Dutchman Holdings Ltd., please visit www.tgod.ca.
Forward-Looking Information Cautionary Statement
This news release includes statements containing certain "forward-looking information" within the meaning of applicable securities law ("forward-looking statements"). Forward looking statements in this release includes, but is not limited to, statements about future research, development and innovation by the Company, statements about future facility construction and capital costs, statements about future jobs to be offered by the Company, statements about production timing, efficiencies, capacities and ramp-up, statements about future production, statements about the outcome of the ratification of the settlement by the Local Planning Appeal Tribunal, statements about the offering of any particular products by the Company in any jurisdiction and statements regarding the future performance of the Company. Forward-looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of Toronto Stock Exchange) accept responsibility for the adequacy or accuracy of this release.
SOURCE The Green Organic Dutchman Holdings Ltd.