The Green Organic Dutchman Holdings (TSX: TGOD) (OTCQX: TGODF),
a leading producer of premium, certified-organic cannabis, on Wednesday
announced that, due to market conditions, it is adapting operations and
aggressively reducing costs. According to the update, the company has postponed
the startup of its Valleyfield facility in order to centralize cultivation
operations at Ancaster. The Ontario facility is able to produce larger volumes
than initially anticipated, enabling the company to delay Valleyfield
cultivation operations while saving costs and capital. “Multiple factors, most
particularly the COVID-19 pandemic, are contributing to an environment in which
we must be extremely prudent with how we manage our cost structure. These are
unprecedented times, and the situation continues to evolve. With the support and
unity, I have seen from our employees, partners and stakeholders, I am very
confident that TGOD can tackle this challenge and come out much stronger,” TGOD
CEO Brian Athaide said in the news release. “We have seen very strong consumer
and medical patient feedback from our recent TGOD Infusers launch and are
looking forward to having them available in more stores quickly. These along
with our upcoming additional 2.0 products are very unique and deliver superior
consumer experiences which will help further differentiate and build our TGOD
organic brand positioning.”
To view the full press release, visit http://ibn.fm/12YCw
About The Green Organic Dutchman Holdings Ltd.
The Green Organic Dutchman (TSX: TGOD) (OTCQX: TGODF) is a
premium, certified-organic cannabis company focused on the health and wellness
market. Its certified-organic cannabis is grown 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 are built to LEED certification
standards, and its products are sold in recyclable packaging. In Canada, TGOD
plans to expand its product portfolio by launching a series of next-generation
cannabis products such as organic teas, infusers and vapes. Through its
European subsidiary, HemPoland, the company also distributes premium hemp-CBD
oil in Europe. By leveraging science and technology, TGOD harnesses the power of
nature from seed to sale. For more information on The Green Organic Dutchman
Holdings Ltd., please visit www.TGOD.ca.
NOTE TO INVESTORS: The latest news and updates
relating to TGODF are available in the company’s newsroom at http://ibn.fm/TGODF
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