PR Newswire
TORONTO, May 26, 2020
TORONTO, May 26, 2020 /PRNewswire/ - The Green Organic Dutchman Holdings Ltd. ("TGOD" or the "Company") (TSX: TGOD) (US: TGODF), a leading producer of premium certified organic cannabis, announced today its financial results for the first quarter of 2020 ended March 31, 2020. hese filings are available for review on the Company's SEDAR profile at www.sedar.com.
"I am proud of the resilience demonstrated by everyone on the team in the face of the global pandemic. With safety as our top priority, we have quickly adapted our processes, allowing our operations to continue running smoothly and uninterrupted to ensure that we meet the needs of our patients and consumers," commented Brian Athaide, CEO of TGOD. "I am also satisfied with the progress we have made on bringing innovative new products to market and expanding distribution. TGOD remains on track to becoming operational cash flow positive later this year," added Athaide.
Since unveiling its Strategic Plan on October 18, 2019, TGOD has taken decisive actions to make the Company more agile and has charted a clear path to near term profitability while reducing its financing requirements. Revenue growth acceleration is expected in the second quarter with a more material impact during the second half of 2020 driven by several product innovation initiatives.
Q1 Business Highlights
Subsequent to the quarter
Conference Call
The Company will hold a conference call with analysts tomorrow, beginning at 9:00 a.m. (ET). An audiocast of the conference call will be available on a listen-only basis at:
https://produceredition.webcasts.com/starthere.jsp?ei=1316916&tp_key=ce3508fc12.
Scheduled speakers are Brian Athaide, Chief Executive Officer, and Sean Bovingdon, Chief Financial Officer, followed by a question and answer period with analysts.
Date: May 27, 2020 | Time: 9:00 a.m. Eastern Time
Participant Dial-In
Local – Toronto: 1-416-764-8688
Toll Free – North America: 1-888-390-0546
Conference ID – 33916372
A replay of the call will also be available through June 3, 2020 by dialing 1-416-764-8677 or 1-888-390-0541 (Passcode: 916372#).
About The Green Organic Dutchman Holdings Ltd.
The Green Organic Dutchman Holdings Ltd. (TSX: TGOD) (US‐OTC: 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 have been built to LEED certification standards and its products are sold in recyclable packaging. In Canada, TGOD sells dried flower and oil, and recently launched 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 and CBD-infused topicals in Europe. By leveraging science and technology, TGOD harnesses the power of nature from seed to sale.
TGOD's Common Shares and warrants issued under the indentures dated November 1, 2017 and December 19, 2019 trade on the TSX under the symbol "TGOD", "TGOD.WT" and "TGOD.WS", respectively, and TGODF trades in the US on the OTCQX. For more information on The Green Organic Dutchman Holdings Ltd., please visit www.tgod.ca.
Cautionary Statements
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 production timelines, production volumes, statements about the launch of the Company's cannabis 2.0 products, statements about its operations in Quebec, statements about completion of financings and availability of funds, and statements regarding the future cashflows and future performance of the Company. Forward‐looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "should", "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 (including market conditions) and other factors that could cause actual events or results to differ materially from those projected in the forward‐looking statements, including those risk factors described in the Company's most recently filed Annual Information Form available on SEDAR. 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 the TSX nor the TSX's 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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SOURCE The Green Organic Dutchman Holdings Ltd.
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