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The Green Organic Dutchman Holdings Ltd. (TGODF) announced plans to monetize its under-utilized Valleyfield site through potential sale opportunities, aiming to reduce operational costs and reinvest in growth. The company is considering multiple bids for the state-of-the-art greenhouse, adapting to the evolving Canadian cannabis market which now favors outdoor cultivation. By offloading excess real estate, TGOD aims to lower debt and enhance production efficiency. Operations in Quebec will continue, focusing on manufacturing and leveraging existing production capacities.
The Green Organic Dutchman Holdings Ltd. (TGODF) announced the launch of Organic Sugar Bush, a high-THC Sativa strain grown in living soil enriched with Quebec maple syrup. Developed through consumer feedback, this premium strain boasts THC levels over 20% and features large buds with a unique sweetness. The product aligns with TGOD's commitment to organic cultivation and environmental sustainability. This introduction expands TGOD's portfolio aimed at health-conscious consumers, with plans for future innovative cannabis products.
The Green Organic Dutchman Holdings Ltd. (TGOD or TGODF) addresses claims of an acquisition offer for its subsidiary, HemPoland, amidst rising interest in the European CBD market. The company regularly receives inquiries about HemPoland, including a recent offer from Labocanna SA, but has yet to accept any proposals that reflect appropriate value. With the hemp industry expanding rapidly in Poland, TGOD is positioned to leverage its European subsidiary for growth. TGOD produces premium organically grown cannabis, highlighting its commitment to environmental sustainability.
On February 11, 2021, The Green Organic Dutchman Holdings Ltd. (TGOD) announced a new supply agreement with CannMart, a subsidiary of Namaste Technologies. This agreement enhances TGOD's distribution into the medical cannabis market, aligning with its strategy to transition to a wholesale model. Over the next two years, TGOD will supply a range of certified organic medical cannabis products through CannMart's online platform, aiming to broaden access for patients across Canada.
The Green Organic Dutchman Holdings Ltd. (TGOD) reported preliminary unaudited gross revenue of $10.9 million for Q4 2020, marking a 235% increase year-over-year and a 91% increase from Q3 2020. The growth is attributed to enhanced product quality and sales expansion, particularly in Canada, which generated $8.6 million in revenue. TGOD adjusted its revenue forecast due to COVID-19 lockdowns, revising expected net sales from $61.5 million to a range of $40 million to $45 million for the fiscal year 2021.
The Green Organic Dutchman Holdings Ltd. (TGOD) announced on February 1, 2021, plans to transition its medical cannabis business to a wholesale model, enhancing access for patients by partnering with Medical Cannabis by Shoppers. This change will eliminate the need for patients to register with multiple licensed producers, ensuring consistent product availability. TGOD aims to support patient access while reallocating resources for growth opportunities. The transition is set to complete by April 1, 2021, with ongoing support for patients during the shift.
Borr Drilling Limited announced the completion of an equity offering on September 30, 2020, raising gross proceeds of USD 27.5 million by issuing 51,886,793 new depositary receipts at a subscription price of USD 0.53 each. Key insiders, including Chairman Paal Kibsgaard and CEO Patrick Schorn, participated in the offering. Kibsgaard will hold 452,069 shares post-offering, while Schorn will own 1,000,000 shares. The shares will be listed on the Oslo Stock Exchange, reflecting continued confidence from leadership.
The Green Organic Dutchman (TGOD) has signed a letter of intent with a Quebec chocolatier to produce premium cannabis-infused chocolates at its Valleyfield facility. This strategic move aims to expand TGOD's product portfolio and reduce reliance on third-party processing. Key developments include the relocation of production equipment for Ripple Dissolvable Powders and Organic Teas, which enhances supply chain agility. Production of concentrates and Ripple Gummies has commenced, with hiring underway to support these initiatives.
The Green Organic Dutchman (TGOD) announced significant developments in its corporate initiatives. The company is set to launch its Highly Dutch brand across Canada in late September, supported by strong sales from Quebec. TGOD has expanded its product offerings, including new RIPPLE products, and enhanced its Valleyfield facility to reduce reliance on third-party processing. Leadership changes include the appointment of Michel Gagné as VP of Operations. Additionally, TGOD secured distribution agreements for international exports to Australia and New Zealand, marking a step towards international growth.