- First provincial supply agreement signed with Ontario
- Planned production of 17,500 kg annually at 166,000 sq. ft. Ontario facility
- Planned production of 185,000 kg annually on 1.31 million square feet in Quebec
The agreement signed by The Green Organic Dutchman Holdings Ltd. (TSX: TGOD) (OTCQX: TGODF) to supply cannabis to the Ontario Cannabis Retail Corporation marks another milestone on the company’s journey toward becoming the world’s leading organic cannabis brand (http://nnw.fm/0nyjF). Now, TGOD’s high quality certified organic cannabis, which is grown in living soil, will be made available to the eight million adults over 19 who live in Ontario, Canada’s largest province by population. This is the first of many provincial supply agreements in the cards as the company expands its domestic and international footprints. Distribution to the Ontario market “is a critical component to TGOD’s national recreational rollout,” according to Brian Athaide, director and CEO. It complements other initiatives that the company is undertaking in Denmark, Jamaica, Mexico and Poland.
The Ontario Cannabis Retail Corporation (“OCRC”), operating as the Ontario Cannabis Store (“OCS”), is a Canadian Crown corporation, established to be a monopoly, which operates the only legal online store for recreational cannabis in Ontario. As soon as a legislative framework is in place, expected by April 2019, it will also become the provincial wholesaler of cannabis for private retail stores. OCS commenced retail sales with the opening of the Canadian recreational cannabis market on October 17. Its wholesale division will soon follow, as a list of the first 25 retailers eligible to apply for cannabis licenses was published in January 2019. The recreational market has already shown exceptional vibrancy. The Ontario Cannabis Store received more than 100,000 orders and over 1.3 million unique visitors to its website in the first 24 hours of operations.
The OCS supply contract involved Velvet Management Inc. (“Velvet”), which provides fully integrated sales and distribution services for TGOD’s cannabis products to provincial liquor and cannabis boards across Canada. Velvet was set up by Philippe Dandurand Wines, the largest importer and distributor of wine in Canada, to “focus on the sales and marketing of cannabis brands. TGOD is the first cannabis partner and will be exclusive in the certified organic segment.”
TGOD is the largest licensed producer of 100 percent certified organic cannabis in Canada. The company’s cannabis is certified by ECOCERT, one of the pre-eminent organic certification bodies in the world. Organic cannabis is grown in living soil without the use of synthetic fertilizers, pesticides or herbicides. The result is a cleaner, premium product for Canadian consumers across both medical and recreational uses.
TGOD continues to pursue its mission of becoming the leading global organic cannabis brand. Since its inception, the company has raised more than $450 million to fund domestic and international expansion and acquisitions, including a 49.18 percent interest in Epican, a vertically integrated cannabis company with licenses for cultivation, extraction, manufacturing and retail sales in Jamaica. Ultimately, it plans to raise annual output capacity to 219,000 kilograms (roughly 483,000 lbs.). The company has a presence in Canada’s two largest provinces, by population – Ontario and Quebec – which together offer a cannabis market estimated at $1.12 billion to $2.68 billion.
TGOD’s facilities in Hamilton, Ontario, are planned to have a total build-out capacity of 166,000 square feet, allowing TGOD to produce 17,500 kg of organic cannabis annually. Construction activity, already underway, started with an indoor facility of 7,000 sq. ft. with an output capacity of 1,000 kg, which is being used as a beta test for a phase I expansion. Phase I will be an enclosed facility that adds 2,000 kg of capacity by the end of Q2 2019. It will be followed by construction of a hybrid facility of 139,000 sq. ft. with a capacity of 14,500 kg.
Construction at TGOD’s 75-acre Salaberry-de-Valleyfield property in Quebec, which commenced January 2018, continues. Valleyfield is a 1.31 million sq. ft. high technology hybrid facility capable of producing 185,000 kg of high-quality organic cannabis annually. First cultivation is expected by Q4 2019.
For more information, visit the company’s website at www.TGOD.ca
NetworkNewsWire (NNW) is a financial news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with NNW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
To receive instant SMS alerts, text STOCKS to 77948
For more information, please visit https://www.NetworkNewsWire.com