Canada NewsWire
TORONTO, Aug. 12, 2020
TORONTO, Aug. 12, 2020 /CNW/ - 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 second quarter of 2020 ended June 30, 2020. These filings are available for review on the Company's SEDAR profile at www.sedar.com.
"Since the beginning of the global pandemic, our top priority has been the health and safety of our employees, customers, and patients. Despite the additional layer of complexity, we continued bringing innovation to market, seeing sequential month-over-month growth during the quarter while cutting costs and reducing our cash burn rate. While we are not where we had expected to be at this time, we are seeing strong momentum on our innovative products and will continue to right-size our business plans with a focus on getting our monthly run rate to a scale which delivers positive operating cash flow by the end of the year," commented Brian Athaide, CEO of TGOD. "Our products have now proven their appeal to consumers and shown consistency and efficacy backed by scientific research. We look forward to expanding our portfolio with additional flower strains and variants of our 2.0 line-up and bringing them to more stores across the country." added Athaide.
Q2 Financial Highlights
Q2 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=1353524&tp_key=d196775e24.
Scheduled speakers are Brian Athaide, Chief Executive Officer, and Sean Bovingdon, Chief Financial Officer, followed by a question and answer period with analysts.
Date: August 13, 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 – 96424598
A replay of the call will also be available through August 20, 2020 by dialing 1-416-764-8677 or 1-888-390-0541 (Passcode: 424598#).
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, dissolvables 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", "TGOD.WS" and "TGOD.WR", 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 revenues, production timelines, production volumes, general and administration costs, statements about the launch and distribution of the Company's new THC strains, mainstream cannabis and 2.0 products, statements about its operations in Quebec, 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.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/August2020/12/c5369.html
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