TORONTO, Oct. 16, 2018 /PRNewswire/ - The Green Organic Dutchman Holdings Ltd. (the "Company" or "TGOD") (TSX: TGOD) (US:TGODF) is pleased to announce it has received its medical sales license from Health Canada pursuant to the Access to Cannabis for Medical Purposes Regulations (the "ACMPR") for its Ancaster, Ontario facility.
"As we prepare for our Founders Club product launch in January 2019, this is a critical step in our path to becoming the global leading organic cannabis brand," said Brian Athaide, CEO of TGOD. "We have been perfecting our organic grow methodology in Ancaster and are prepared for the Q1 launch to medical patients across Canada followed by the launch in adult use markets in Q2."
"We have been working aggressively on both productive capacity and global distribution," said John Wren, VP of Operations at TGOD. "In addition to Ancaster, we are currently growing in Valleyfield, Quebec at our breeding facility, Jamaica with our partner Epican and Poland with HemPoland. We are on track to progressively ramp up our production throughout 2019, targeting 195,000 kgs of run-rate capacity by the end of the year. TGOD is securing significant distribution networks in Canada, Europe, Jamaica, and Latin America while scaling operations for medical and adult use markets around the world," continued Mr. Wren.
On Behalf of the Board of Directors,
The Green Organic Dutchman Holdings Ltd.
ABOUT THE GREEN ORGANIC DUTCHMAN HOLDINGS LTD.
The Green Organic Dutchman Holdings Ltd. is a premium global organic cannabis company, with operations focused on medical cannabis markets in Canada, Europe and Latin America and the soon to be legal 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 funded capacity of 170,000 kg and is building 1,382,000 sq. ft. of cultivation facilities across Ontario, Quebec and Jamaica.
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.
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 the future legalization of recreational cannabis and cannabis-infused products in Canada, statements about future research, development and innovation by the Company, 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.