TORONTO, May 15, 2018 (GLOBE NEWSWIRE) — The Green Organic Dutchman Holdings Ltd. (the “Company” or “TGOD”) (TSX:TGOD) (US:TGODF) is pleased to announce that, effective April 20, 2018, the Company has been granted a supplemental license from Health Canada for the production of cannabis oils.
The Company produces its cannabis oil using a supercritical CO2 extraction system, capable of processing up to 6,600 kg / year into ultra-pure, environmentally friendly, organic cannabis oils. The process is free of toxic solvents and does not require any winterization protocol. This innovative process produces the highest-quality cannabis oils in the world.
Giving concentrate makers control over the process provides access to cannabinoids within the plant in addition to tetrahydrocannabinol (THC) and cannabidiol (CBD). The result of this specialized extraction process is a precisely concentrated, aromatic golden-brown oil that is as close to the original plant composition as can be achieved.
“The extraction process allows TGOD to transform our premium quality organic raw material into a variety of premium higher-margin cannabis products. This is an important milestone in our path and commitment to providing users with alternative, more convenient and dose-controlled consumption methods.
“This license is instrumental in driving our research & development forward through product innovation, discovery of novel traits, and expanding our intellectual property portfolio. With over 125 years of consumer packaged goods experience, TGOD is well-positioned to be the world leader in the organic cannabis industry, providing a range of safe, consistent, high quality organic products,” said Robert Anderson, TGOD’s Co-Chairman and CEO.
“Our oils will be as close to the original plant as possible, including terpene profiles to realize entourage effects. Our process is easily customizable to create full-spectrum strain-specific oils, as well as oils of varying cannabinoid and terpene concentrations,” said Anderson.
TGOD’s laboratory was built to GMP (Good Manufacturing Practices) specifications, and work is currently underway for European Union GMP certification. Patrick Baker, Extraction Technician, will be heading up the Company’s extraction facility. Mr. Baker has a B.Sc. Biology and Chemistry (Honours) with an emphasis on radiochemistry, and synthetic organic chemistry.
On Behalf of the Board of Directors,
The Green Organic Dutchman Holdings Ltd.
Chief Executive Officer and Co-Chairman
ABOUT THE GREEN ORGANIC DUTCHMAN HOLDINGS LTD.
The Green Organic Dutchman Holdings Ltd. is a research & development company licensed under the Access to Cannabis for Medical Purposes Regulations (“ACMPR”) to cultivate medical cannabis. The Company carries out its principal activities producing cannabis from its facilities in Ancaster, Ont., pursuant to the provisions of the ACMPR and the Controlled Drugs and Substances Act (Canada) and its regulations.
The Company grows high quality, 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 funded capacity of 116,000 kg and is building 970,000 sq. ft. of cultivation facilities in Ontario and Quebec.
The Company has developed a strategic partnership with Aurora Cannabis Inc. (TSX:ACB) whereby Aurora invested approximately $78.1 million investment for an approximate 17.5% stake in TGOD. In addition, the Company has raised approximately $290 million dollars and has over 5,000 shareholders.
TGOD’s Common Shares and warrants issued under the indenture dated November 1, 2017 trade on the TSX under the symbol “TGOD” and “TGOD.WT”, respectively.
Phone: 1 (416) 900-7621
No securities regulatory authority has either approved or disapproved of the contents of this news release. The securities of TGOD have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws. Accordingly, the securities of TGOD may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws. This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities of TGOD in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Forward-Looking Information Cautionary Statement
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 the Company’s facilities, production and extraction methods, the Company’s participation in certain product offerings, the future performance of the Company generally and anticipated changes to cannabis legislation in Canada. Forward-looking statements are frequently characterized by words such as “plan”, “continue”, “expect”, “project”, “intend”, “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 and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. 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 TSX nor its 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.