| Fundamental Data - TGOD |
| Security Type | Equity |
| Shares Issued | 269,642,785 |
| Market Cap | 1,089,357,000 |
| Year High |
10.24
|
| Year Low | 2.19 |
| Annual Earnings/Share | -0.1496 CAD |
| P/E Ratio | -27.01 |
| Annual Dividend/Share | 0.00 CAD |
| Annual Dividend Yield | 0.00 % |
| Ex-Dividend Date | |
| Sector | 30202010 - Agricultural Products |
Green Organic JV partner gets Danish pot authorization
2019-01-29 07:59 ET - News Release
CULTIVATION LICENSE SECURED FOR TGOD'S OPERATIONS IN DENMARK
Danish Medicines Agency, the government body responsible for issuing cannabis related licences, has granted an initial cannabis business authorization to The Green Organic Dutchman Holdings Ltd.'s joint venture production partner Knud Jepsen.
This licence will allow Green Organic's JV partner Kund Jepsen to immediately begin importation of starting materials and to begin research and development related to the creation of elite cannabis genetics. Per the terms of the recently completed definitive agreement, Knud Jepsen will submit a request to the Danish Medicines Agency for the assignment of this licence to the TGOD-Knud Jepsen Danish joint venture, a process that is already under way and expected to be completed within the coming weeks.
The initial licence, issued under the Danish Medicines Agency's development scheme, enables the importation of starting materials, the receipt, possession, cultivation and processing of cannabis, and distribution and export of analytical samples to foreign labs. After the cultivation and harvest of three confirmed and consistent crops, an additional authorization licence will be issued allowing for the sale of authorized medicinal cannabis products.
"We are incredibly pleased with the quick receipt of this licence from the Danish Medicines Agency," commented Frands Jepsen, Knud Jepsen's chief executive officer. "The initial licence was received promptly after the submission, and the Danish Medicines Agency provided great transparency during the process. Through 80 years of trusted operations in Denmark, we've built excellent relationships with all parties involved and plan to work closely with the development scheme."
The Denmark-based TGOD/Knud Jepsen cannabis production JV will initially consist of a 37,500-square-foot phase one production facility with an expected annual capacity of 2,500 kilograms per year with an initial focus on supplying the Danish medical market.
The purpose-built hybrid greenhouse facility will be located within Knud Jepsen's large-scale operations in Hinnerup, Denmark, and the property includes significant room for expedited expansion on Knud Jepsen's land as additional global markets open and demand dictates.
The previously contemplated (see June 27, 2018, news release) 25,000 kg of production in Denmark will shift to various lower cost production jurisdictions throughout Europe. Green Organic will have the exclusive right to all cannabis-related production from the JV through a guaranteed offtake agreement.
Green Organic and Knud Jepsen have also formed a genetics-focused JV, which will consist of a 5,500-square-foot research and development facility for cannabis-related trials and testing to produce and house elite materials. Knud Jepsen's laboratory will be retrofitted to begin robust R&D trials with the goal of patenting and commercializing novel discoveries.
The facility will be ready to receive cannabis starting materials in the coming weeks.
"Knud Jepsen is a proven leader with a track record of excellence in genetic discoveries, R&D, and large-scale cultivation," commented Brian Athaide, director and CEO of Green Organic. "TGOD is working with Health Canada to export starting materials from Canada into Denmark and we look forward to accelerating our expansion throughout Europe."
About The Green Organic Dutchman Holdings Ltd.
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. The company grows high-quality, organic cannabis with sustainable, all-natural principles. Green Green Organic's products are laboratory tested to ensure patients have access to a standardized, safe and consistent product. The company has a financed capacity of 170,000 kg and is building 1,382,000 square feet of cultivation facilities across Ontario, Quebec, Denmark and Jamaica.
We seek Safe Harbor.
© 2019 Canjex Publishing Ltd. All rights reserved.
An anonymous director reports
THE GREEN ORGANIC DUTCHMAN COMMENTS ON GREEK MINISTRY OF AGRICULTURE PRESS RELEASE AND MEDIA COVERAGE
The Green Organic Dutchman Holdings Ltd. has commented on the Greek Ministry of Agriculture's press release and CNN's (Greece) coverage dated Jan. 25, 2019, related to the company's proposed Greece operations.
The press release contemplates a significant investment in the development of the pharmaceutical hemp and cannabis sector within Greece, and highlights an up to 74-million-euro investment, 34-acre property in Thebes and a multiphase, large-scale, state-of-the-art cannabis cultivation facility.
The company confirms it has been in communication with various Greek ministries, including the Ministry of Rural Development and Food, since early 2018; and is awaiting a licence for the production of medicinal cannabis. The company and the Greek government have had advanced discussions as to the nature of the proposed plans. The government appreciates Green Organic's organic product and process, and values its commitment to sustainability.
Further to Green Organic's press release dated Jan. 25, 2019, regarding a shift in planned production from Denmark to other lower-cost jurisdictions throughout Europe; Greece, with favourable labour rates and ideal climatic conditions for the cultivation of cannabis, provides an optimal environment to produce high-quality, low-cost, large-scale organic cannabis. The country's central European location allows export to other European countries with dramatically reduced shipping costs.
While the company cannot comment on the specifics of its application, it confirms plans to construct and commission a multiphase facility, subject to licensing from the Greek government.
Further information will be provided upon official licensing.
About The Green Organic Dutchman Holdings Ltd.
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.
The company grows high-quality, organic cannabis with sustainable, all-natural principles. The company's products are laboratory tested to ensure patients have access to a standardized, safe and consistent product. The company has a financed capacity of 170,000 kilograms and is building 1,382,000 square feet of cultivation facilities across Ontario, Quebec and Jamaica.
We seek Safe Harbor.
Green Organic talks potential of Greek market
2019-01-28 09:51 ET - News Release
THE GREEN ORGANIC DUTCHMAN COMMENTS ON GREEK MINISTRY OF AGRICULTURE PRESS RELEASE AND MEDIA COVERAGE
The Green Organic Dutchman Holdings Ltd. has commented on the Greek Ministry of Agriculture's press release and CNN's (Greece) coverage dated Jan. 25, 2019, related to the company's proposed Greece operations.
The press release contemplates a significant investment in the development of the pharmaceutical hemp and cannabis sector within Greece, and highlights an up to 74-million-euro investment, 34-acre property in Thebes and a multiphase, large-scale, state-of-the-art cannabis cultivation facility.
The company confirms it has been in communication with various Greek ministries, including the Ministry of Rural Development and Food, since early 2018; and is awaiting a licence for the production of medicinal cannabis. The company and the Greek government have had advanced discussions as to the nature of the proposed plans. The government appreciates Green Organic's organic product and process, and values its commitment to sustainability.
Further to Green Organic's press release dated Jan. 25, 2019, regarding a shift in planned production from Denmark to other lower-cost jurisdictions throughout Europe; Greece, with favourable labour rates and ideal climatic conditions for the cultivation of cannabis, provides an optimal environment to produce high-quality, low-cost, large-scale organic cannabis. The country's central European location allows export to other European countries with dramatically reduced shipping costs.
While the company cannot comment on the specifics of its application, it confirms plans to construct and commission a multiphase facility, subject to licensing from the Greek government.
Further information will be provided upon official licensing.
About The Green Organic Dutchman Holdings Ltd.
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.
The company grows high-quality, organic cannabis with sustainable, all-natural principles. The company's products are laboratory tested to ensure patients have access to a standardized, safe and consistent product. The company has a financed capacity of 170,000 kilograms and is building 1,382,000 square feet of cultivation facilities across Ontario, Quebec and Jamaica.
We seek Safe Harbor.
© 2019 Canjex Publishing Ltd. All rights reserved.
Green Organic Dutchman distribution of TGOD warrants
Spin-off as a dividend for shareholders
As Toronto's Toronto Stock Exchange leaves little room for investment in the US, some producers such as Canopy (with Canopy Rivers) and Aurora (with Australis) have decided to spin-off to compete in the growth market of the United States to invest.
TGOD will also go a similar way with "TGOD Acquisition" (the SpinCo) . The only way to get the spin-off shares is to become a shareholder of TGOD on January 31 (record date). Taking into account the value date, you must have the share in your portfolio by January 28, at the latest, to receive 0.15 spin-off warrants per 1 share of TGOD at a later date, which will be used to purchase a spin-off share Price of 0.50 CAD.
As Toronto's Toronto Stock Exchange leaves little room for investment in the US, some producers such as Canopy (with Canopy Rivers) and Aurora (with Australis) have decided to spin-off to compete in the growth market of the United States to invest.
TGOD will also go a similar way with "TGOD Acquisition" (the SpinCo) . The only way to get the spin-off shares is to become a shareholder of TGOD on January 31 (record date). Taking into account the value date, you must have the share in your portfolio by January 28, at the latest, to receive 0.15 spin-off warrants per 1 share of TGOD at a later date, which will be used to purchase a spin-off share Price of 0.50 CAD.
2019-01-25 21:17 ET - Miscellaneous
According to the TSX, Canadian shareholders of the company may elect to receive 0.15 unit warrant of TGOD Acquisition for every common share of Green Organic held. Each TGOD Acquisition unit warrant will entitle the holder to buy one unit of TGOD Acquisition at 50 cents per unit for 30 days following the completion of the plan of arrangement.
The TSX notes that non-resident shareholders will receive a cash payment net of any applicable withholding taxes following a sale of their respective TGOD Acquisition units by an independent custodian following the distribution.
The TSX reports that the record date for the distribution is Jan. 31, 2019, and the ex distribution date is Jan. 30, 2019. In order to receive unit warrants of TGOD Acquisition, shareholders of the company must complete and return the election form by Feb. 22, 2019. Shareholders who do not complete and submit the election form by the election deadline will not receive the unit warrants.
For more information, see the company's management information circular dated Nov. 7, 2018, and its news release dated Jan. 24, 2019, available on SEDAR.
© 2019 Canjex Publishing Ltd. All rights reserved.
Green Organic signs definitive deal for two JVs
2019-01-25 07:44 ET - News Release
Mr. Brian Athaide reports
THE GREEN ORGANIC DUTCHMAN COMPLETES KNUD JEPSEN DEFINITIVE AGREEMENT, LAUNCHES EUROPEAN PRODUCTION AND R&D PLATFORM
Further to its news release on June 27, 2018, The Green Organic Dutchman Holdings Ltd. has entered into a definitive agreement with Queen Genetics/Knud Jepsen A/S to establish two 50/50 joint ventures: the first for the purpose of producing commercial cannabis and cannabis oils and the second for developing and patenting innovative and commercially valuable elite cannabis genetics. The parties will form both joint ventures in Denmark with a goal to expand the production JV into future low-cost European jurisdictions.
The definitive agreement outlines the company and Knud Jepsen's launch of a premium organic European bulk cannabinoid production platform where the company will have the exclusive right to all cannabis-related production from the JV, through a guaranteed offtake agreement at a predetermined price relative to the production cost of the JV. Further, the production JV will have exclusive access to all intellectual property including elite cannabis genetics developed within the genetics JV. Knud Jepsen will be responsible for the day-to-day operations of the JV and the company will leverage Knud Jepsen's years of horticulture experience and science and research and development division to accelerate commercial operations in Denmark and throughout Europe.
The company's differentiated approach to organic cannabinoid production combined with Knud Jepsen's large-scale commercial horticultural and globally integrated seed-to-sale operations will accelerate the company's global initiatives. The European bulk cannabinoid production platform paired with the genetics JV will generate value-added formulations and products for established European and international sales and distribution channels.
The first phase of the JV will consist of a 2,500-kilogram pilot program based in Hinnerup, Denmark, with the previously contemplated (see June 27, 2018, news release) 25,000 kg of production in Denmark, shifting to various lower cost production jurisdictions throughout Europe.
"This JV is incredibly important to furthering TGOD's presence in Europe," commented Brian Athaide, director and chief executive officer of the company. "Knud Jepsen is a remarkable partner, having over 80 years of experience in R&D and cultivating plants in millions of square feet. As we roll out multiple phases of our JV and plan to increase the partnership to multiple countries across Europe, leveraging Knud Jepsen's expertise as operators, and our expertise in cannabis will be critical to TGOD's expansion throughout the continent. The partnership will allow TGOD to focus on building global sales and distribution channels, developing proprietary and patentable IP, and furthering brand equity," continued Mr. Athaide.
Founded in 1939, Knud Jepsen has 80 years of experience in all areas of horticulture ranging from genetics and breeding to international partnerships and developing global distribution networks. Knud Jepsen is the world's largest Kalanchoes breeder and producer distributing and selling more than 35 million finished plants in Europe and 90 million cuttings to over 75 countries each year. Over 520 people are employed or engaged by Knud Jepsen globally. In addition to Denmark, Knud Jepsen operates an 880,000 square ft flower and young plant production facility in Turkey, and a 700,000 square ft facility in Vietnam specializing in producing cuttings belonging to the Queen genetic assortment.
"We are thrilled to partner with TGOD and officially enter the cannabis market with the signing of this definitive agreement," commented Frands Jepsen, Knud Jepsen's chief executive officer. "2,500 kg in Denmark is just the beginning, we will shift the proposed 25,000 kg to strategic European locations with low-cost production and expect to far exceed that capacity as we onboard additional production sites. We will leverage our global business, dedicated staff, and 80 years of operating and R&D experience to become, with TGOD, the largest European producer of organic cannabis."
About The Green Organic Dutchman Holdings Ltd.
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. The company grows high-quality, organic cannabis with sustainable, all-natural principles.
We seek Safe Harbor.
© 2019 Canjex Publishing Ltd. All rights reserved.
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