TORONTO, Feb. 8, 2019
TORONTO, Feb. 8, 2019 /CNW/ - The Green Organic Dutchman Holdings Ltd. (the "Company" or "TGOD") (TSX:TGOD) (US:TGODF) is pleased to announce that it has secured a cannabis supply agreement with the Ontario Cannabis Retail Corporation.
"Ontario has the largest population in Canada and is a critical component to TGOD's national recreational rollout," commented Brian Athaide, Director and CEO. "This represents the first of many provincial supply agreements planned for our premium organic product as our domestic facilities near completion and production increases throughout 2019."
TGOD is the largest licensed producer of 100% certified organic cannabis in Canada. TGOD cannabis is certified by ECOCERT, one of the pre-eminent organic certification bodies in the world. Organic cannabis is grown in living soil without the use of synthetic fertilizers, pesticides or herbicides. The result is a cleaner, premium product for Canadian consumers across both medical and recreational uses.
The Ontario Cannabis Retail Corporation, operating as the Ontario Cannabis Store ("OCS") is the only legal retailer of recreational cannabis in Canada's most-populous province. Online sales launched in October 2018. The OCS will also supply cannabis products to licensed private retail stores across the province, set to open in April of this year. The first 25 retailers eligible to apply for cannabis licenses were announced last month.
The agreement with OCS was negotiated jointly between TGOD and its partner, Velvet Management Inc. ("Velvet"). Velvet provides fully integrated sales and distribution capabilities for TGOD's premium cannabis products to provincial liquor and cannabis boards across Canada. Velvet is a new company created by the largest wine distributor in Canada, Philippe Dandurand Wines.
"We look forward to helping TGOD provide its premium organic cannabis to consumers in Ontario, Canada's largest province," said Vianney Aubrecht, President of Velvet. "Organic resonates with consumers. We are proud to have TGOD as our cornerstone supplier for all provinces and territories."
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. (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 production timing, efficiencies, capacities and ramp-up, statements about future production, revenue and cashflows, 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.
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