- Signed LOI with Quebec-based Chocolatier to produce premium cannabis-infused chocolates at TGOD's Valleyfield site
- Production equipment for Ripple Dissolvable Powders and TGOD Organic Teas successfully relocated from contract manufacturer and set up at Valleyfield, eliminating capacity challenges and providing supply agility
- Production of concentrates and Ripple Gummies has commenced
- Hiring for several positions to support production ramp up and new product lines
TORONTO, Sept. 16, 2020 /PRNewswire/ - The Green Organic Dutchman Holdings Ltd. (the "Company" or "TGOD") (TSX: TGOD) (US: TGODF), a leading producer of premium certified organically grown cannabis, is pleased to announce that it has entered into an agreement with an established chocolatier for a new line of premium organic chocolate to be produced at its Valleyfield site.
As part of its portfolio expansion strategy, TGOD plans to launch a line of premium cannabis-infused chocolates. The new product line will be produced using high-quality Belgian chocolate, organic gourmet ingredients, and infused using RIPPLE's proven fast-acting cannabis technology.
As previously disclosed, considering capacity challenges with third party processing, the Company made the strategic decision to transform its licensed facility located in Valleyfield, Quebec, into a processing hub to support its expanding product portfolio. In doing so, TGOD significantly reduced its reliance on third parties, gained more control over its processing activities, and improved agility and quality control.
The equipment relocation has now been completed, with production of RIPPLE Dissolvable Powders and premium teas expected to restart this month. TGOD has also begun production of concentrates and Ripple Gummies in Valleyfield. Hash should be available for sale at the end of this month under the Company's mainstream brand, Highly Dutch, while Ripple Gummies are planned to launch in the fourth quarter.
"As we conducted a complete review of our operations, we saw the opportunity to leverage Valleyfield and centralize our processing activities for 2.0 products. Not only does it streamline our supply chain and help absorb the fixed costs of maintaining the site, it also makes us more agile and provides us with more control over the development and quality of our products," commented Brian Athaide, CEO of TGOD. "By developing the in-house capabilities to manufacture multiple product lines, we are well positioned to capitalize on the increasing popularity of cannabis derivatives such as beverages, chewables, chocolates, concentrates and teas," added Athaide.
TGOD is currently hiring for several positions to support its production ramp up. The Company is looking for a broad range of profiles, from Process Engineers to Edibles Manufacturing Team Leads to Quality Control Technicians, and more. Interested candidates can submit their application at https://www.tgod.ca/pages/careers.
About The Green Organic Dutchman Holdings Ltd.
The Green Organic Dutchman Holdings Ltd. (TSX: TGOD) (US–OTC: TGODF) is a premium certified organically grown cannabis company focused on the health and wellness market. Its organic cannabis is cultivated in living soil, as nature intended. The Company is committed to cultivating a better tomorrow by producing its products responsibly, with less waste and impact on the environment. Its two Canadian facilities have been built to LEED certification standards and its products are sold in recyclable packaging. In Canada, TGOD sells dried flower and oil, and recently launched a series of next–generation cannabis products such as organic teas, dissolvables and vapes. Through its European subsidiary, HemPoland, the Company also distributes premium hemp CBD oil and CBD-infused topicals in Europe. By leveraging science and technology, TGOD harnesses the power of nature from seed to sale.
TGOD's Common Shares and warrants issued under the indentures dated November 1, 2017 and December 19, 2019 trade on the TSX under the symbol "TGOD", "TGOD.WT", "TGOD.WS" and "TGOD.WR", respectively, and TGODF trades in the US on the OTCQX. For more information on The Green Organic Dutchman Holdings Ltd., please visit www.tgod.ca.
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 include, but are not limited to, statements about new product launches, statements about production capabilities, and statements about the Company's ability to offer certain products in certain jurisdictions. Forward–looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "should", "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 (including market conditions) and other factors that could cause actual events or results to differ materially from those projected in the forward–looking statements, including those risk factors described in the Company's most recently filed Annual Information Form available on SEDAR. 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 the TSX nor the TSX's 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.