Rate this post




TORONTO /CNW/ – The Green Organic Dutchman Holdings Ltd. (the “Company” or “TGOD”) (TSX: TGOD) (US:TGODF) is pleased to report its economic and operational benefits for the year ended December 31, 2018. These filings are accessible for evaluation on the Company’s SEDAR profile at www.sedar.com

Q4 Highlights:

The Business:

  • Ended the year with a powerful balance sheet and liquidity, which includes $263.five million of money and restricted money, to continue to fund its facilities expansion and international development.
  • Completed the acquisition of HemPoland on October 1st, 2018 for total money and deferred consideration of about $18.six million.
  • Announced its initial quarterly revenues via HemPoland resulting in $1.9 million of income for the fourth quarter.
  • Accelerated building spending at Hamilton and Valleyfield websites to $39.five million in the fourth quarter, an raise of 19%, or $six.four million compared to $33.1 million in the third quarter 2018.
  • Completed a $76.two million purchased deal financing priced at $six.85 per unit.
  • Seasoned a loss from operations of $18.1 million ($44.five million for the complete 2018 fiscal year) as a outcome of ramping up operations, various customer investigation activities, and administration in preparation for industrial production in 2019.

Year-Finish Highlights:

The Business excelled in the following locations:

Financing:

  • Completed the biggest Canadian cannabis IPO, which closed on Could 2nd, 2018, raising gross proceeds of $132.three million, which includes overallotment.
  • Completed two purchased bargains worth $101.two million in gross proceeds.
  • Completed private placements worth $77.six million in gross proceeds.
  • Received reiterated assistance from the investor neighborhood with $63.four million in warrants exercised.

Building:

  • Accelerated building spending at Hamilton and Valleyfield websites to $96.eight million all through the year.
  • Improved total planned international production capacity to 219,000 kgs with enhanced style and engineering updates at its Canadian facilities.

International presence and essential partnerships:

  • Opened the initial dispensary, with its companion Epican Medicinals, in Kingston, Jamaica.
  • Formed joint venture with Knud Jepsen in Denmark to concentrate on production of cannabis and cannabis oils and create and patent revolutionary cannabis genetics.
  • Produced joint venture with LLACA Groupo Empresarial for distribution of health-related cannabis into about 7,600 pharmacies and retailers in Mexico.
  • Concluded a collaboration agreement with Velvet Management, a new enterprise made by the biggest wine distributor in Canada, Philippe Dandurand Wines focused on cannabis sales and distribution.
  • Secured exclusive licensing rights to Stillwater Foods’ RIPPLE SC patent pending soluble cannabinoid ingredient technologies and Evolab and CBx Sciences brands and proprietary cannabinoid vaporization technologies for the Canadian marketplace.
  • Incorporated many subsidiaries about the globe which includes in the Netherlands, Greece, Colombia and Germany to execute the Company’s international vision.

Other essential updates

  • Appointed Mr. Prem Virmani as the Company’s Beverage Science and Analysis Division Chairman. Invested more than $two.eight million into Analysis and Improvement connected costs in 2018.
  • Appointed Brian Athaide as the Company’s CEO, and expanded executive group, bringing more than 200 years of combined expertise and leadership from the customer solution goods and pharmaceutical industries into the Business.
  • Announced a spin-off transaction on July 19th, 2018 to give TGOD shareholders with an chance to participate in the seed round financing of a newly formed enterprise to concentrate on international possibilities and assets not core to the Company’s business enterprise.

“2018 has been a pivotal year for the Business. The accomplishments our group has created have been nothing at all shy of incredible”, mentioned Brian Athaide, Director and CEO of the Business. “The Business has raised substantial capital and grown the group with the addition of deep experience and exceptionally skilled experts to each management and our Board,” continued Athaide. “We are incredibly excited for 2019 and we stay focused on delivering on the Company’s operational plans of creating and bringing to marketplace higher top quality, premium certified organic cannabis.”

ABOUT THE GREEN ORGANIC DUTCHMAN HOLDINGS LTD.

The Green Organic Dutchman Holdings Ltd. (TSX:TGOD) is a publicly traded, premium international organic cannabis enterprise, with operations focused on health-related cannabis markets in Canada, Europe, the Caribbean and Latin America, as properly as the Canadian adult-use marketplace. The Business grows higher top quality, organic cannabis with sustainable, all-all-natural principles. TGOD’s merchandise are laboratory tested to guarantee sufferers have access to a standardized, protected and constant solution. TGOD has a planned capacity of 219,000 kgs and is creating 1,643,600 sq. ft. of cultivation and processing facilities across Ontario, Quebec, Jamaica and Denmark.

TGOD’s Frequent Shares and warrants issued below the indenture dated November 1, 2017 trade on the TSX below the symbol “TGOD” and “TGOD.WT”, respectively.

For much more information and facts on The Green Organic Dutchman Holdings Ltd., please visit www.tgod.ca

Supply The Green Organic Dutchman Holdings Ltd.

Featured image courtesy of Lift News.




(function(d, s, id){ var js, fjs = d.getElementsByTagName(s)[0] if (d.getElementById(id)) {return} js = d.createElement(s) js.id = id js.src = "http://connect.facebook.net/en_US/sdk.js" fjs.parentNode.insertBefore(js, fjs) }(document, 'script', 'facebook-jssdk'))