The Green Organic Dutchman Holdings (TSX: TGOD) (OTCQX: TGODF), a leading producer of premium certified organic cannabis, today announced its new strategic plan to reduce its financing requirements while maintaining its path to profitability. Per the update, the company intends to improve agility by reducing capital requirements, establishing a simple way to scale up production as more retail locations open and legal sales increase, and adapting to slower legal market conversion by deferring excess capacity and expenses. TGODF also maintains its objective to become EBITDA and operating cash flow positive by Q2 2020. “These actions are logical next steps in TGOD’s road to profitability. While we are committed to – and our strategy continues to leverage – our unparalleled scale as an organic producer as well as our international assets, we have identified areas where our scale would not provide for meaningful returns in the near term given the slower pace of legal market conversion. We will optimize our operating efficiency by deferring excess capacity and expenses, whether they center on production facilities, international expansion projects or technology,” TGODF CEO Brian Athaide said in the news release.
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About the Green Organic Dutchman Holdings Ltd.
The Green Organic Dutchman Holdings is a publicly traded, premium, global, organic-cannabis company with operations focused on medical cannabis markets in Canada, Europe, the Caribbean and Latin America, as well as the Canadian adult-use market. TGOD also has organic-hemp, CBD-oil operations in Canada and, through its wholly owned subsidiary HemPoland, distributes premium-hemp CBD oil in the European Union. The company grows high-quality, certified-organic cannabis with sustainable, all-natural principles. TGOD’s products are laboratory tested to ensure patients have access to a standardized, safe and consistent product. TGOD has a planned global capacity of 219,000 kgs. and is building 1,643,000 square feet of cultivation and processing facilities across Ontario, Quebec, Jamaica and Denmark. For more information, visit the company’s website at www.TGOD.ca.
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