The Green Organic Dutchman Holdings Ltd. (TSX:TGOD) takes a big stake in Jamaican producer Epican Medicinals
SmallCapPower | June 15, 2018: The Green Organic Dutchman Holdings Ltd. (TSX:TGOD) (OTCQX:TGODF) announced on June 14, 2018, that it has entered a 49% strategic investment and partnership with Epican Medicinals Ltd., a Jamaican producer. As part of the agreement, Green Organic Dutchman Holdings plans to provide expertise and financing for a new 125,000 sq. ft. facility in Jamaica. The partnership is expected to add 14,000 kg/annum to TGOD’s funded capacity, bringing its total to 130,000 kg/annum. Deal metrics or production timelines were not disclosed in the press release.
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In the press release, management commented: “International expansion is an integral part of TGOD’s business plan. The partnership with Epican will provide a low-cost platform from which TGOD is supplied premium Jamaican grown medical cannabis for export to select international jurisdictions, as regulations permit.”
Epican is a high-quality producer, licensed by the Jamaican Cannabis Licensing Authority (CLA) to sell a range of products; including dried flower, oils and pre-rolls. It also intends to open several dispensaries, called Herb Houses, in Jamaica by the end of 2018.
It’s been an eventful month thus far for The Green Organic Dutchman Holdings. On June 8, the Company said it has launched a global division focused on the beverage industry to create industry-leading branded products and supply organic base ingredients for use in global beverage brands. Green Organic Dutchman Holdings senior management has more than 125 years of combined experience in the beverage industry, with international soft drink and beverage alcohol companies in Canada and the U.S.
With a market cap $1.2B, Green Organic Dutchman Holdings is currently the sixth-largest cannabis producer by market cap on the TSX or TSXV. The Company has only been trading since May 2, 2018.
Dwayne McKenzie (President) and Karibe McKenzie (CEO) of Epican.
Source: The Gleaner (Jamaican Newspaper)
Dwayne and Karibe moved to Baltimore for university, where they became disheartened by the status of African Americans in American culture. They then moved to Africa where they worked with communities to develop more efficient farming practices and sustainable power sources. After moving back to Baltimore, they opened a small retail store where they sold African antiques and treasures. Upon hearing about the decriminalization of cannabis in Jamaica they moved back to Jamaica to launch Epican.
Disclosure: Neither the author nor his family own shares in the company mentioned above.
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