Green Organic Dutchman Holdings Ltd.’s (TSX:TGOD) newly-appointed CEO says TGOD aims to become the largest organic cannabis producer in the world
SmallCapPower | July 13, 2018: The Green Organic Dutchman Holdings Ltd. (TSX:TGOD) is letting its shareholders knows that it is business as usual following the sudden resignation of CEO Robert Anderson, due to health concerns.
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TGOD’s newly-appointed CEO Brian Athaide addressed the shareholders of Green Organic Dutchman through a letter dated July 9, 2018. In the note, Mr. Athaide talked about TGOD’s aim of becoming the largest organic cannabis producer in the world through the path followed – retail-first approach, strategic hires, recent expansion, exclusive licensing deals, entering international markets, and organic differentiation.
The CEO highlighted the Company’s operations and brand building in his letter that included:
- Strong cash position: $300 million
- Ontario Cultivation: 150,000 sq. ft. facility in Hamilton under construction, scheduled to open in the Q1 2019, capable of producing 14,000 kg of premium organic cannabis
- Quebec Cultivation: 820,000 sq. ft. facility in Valleyfield under construction, scheduled to open in the H1 2019, capable of producing 142,000 kg of premium organic cannabis
- Jamaican JV (with Epican Medicinals Ltd.): Capable of producing an additional 14,000 kg of premium organic cannabis
- Denmark JV (with Queen Genetics & Knud Jepsen): Adding the potential for an additional 25,000 kg funded capacity, bringing TGOD European cultivation, R&D and a distribution centre
- 170,000 kg funded capacity, with potential for 195,000 kg (upon completion of definitive agreement with Denmark JV)
- Strategic Partnership with Aurora Cannabis (TSX:ACB): Investment of over $78.1 million in TGOD by ACB, which is validation of the company’s business
- Largest ETF Holding: Number 1 holding in the largest cannabis ETF in the United States
- Launch of strategic Beverage Science and Research Division: 40,000 kg annual capacity cultivation facility dedicated to beverage, and appointment of Prem Virmani as beverage science and research division chair
- Cultivation License: For Valleyfield granted & Oils license for Hamilton granted
- $25 million bought deal @$6.40
- Largest IPO in cannabis industry history, raising $132.1 million and listing on the Toronto Stock Exchange
Talking about his vision, new Green Organic Dutchman CEO Brian Athaide says, “Rob had a vision, a vision of doing things the right way, a vision that retail investors have the ability to be so much more than just shareholders. They can become patients of the medical market, customers of the recreational market and brand ambassadors. These are cannabis enthusiasts, advocates, consumers, and from day one TGOD has aimed to empower those passionate about cannabis to invest alongside the management team and create the largest organic cannabis brand in the world. A large portion of what has made TGOD so special today is that vision, and it’s that same vision, that same philosophy, that I want to continue delivering for TGOD and TGOD’s shareholders. That was Rob’s vision, and that is my vision.”
Green Organic Dutchman is a research & development company licensed under the Access to Cannabis for Medical Purposes Regulations (ACMPR) to cultivate medical cannabis. The Company produces cannabis from its facilities in Ancaster, Ontario, as per provisions of the ACMPR and the Controlled Drugs and Substances Act (Canada) and its regulations.
Disclosure: Neither the author nor his family own shares in the company mentioned above.
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