TORONTO /CNW/ – The Green Organic Dutchman Holdings Ltd. (the “Company” or “TGOD”) (TSX: TGOD) (US:TGODF) is pleased to report its monetary and operational outcomes for the year ended December 31, 2018. These filings are out there for critique on the Company’s SEDAR profile at www.sedar.com
- Ended the year with a powerful balance sheet and liquidity, like $263.five million of money and restricted money, to continue to fund its facilities expansion and international development.
- Completed the acquisition of HemPoland on October 1st, 2018 for total money and deferred consideration of roughly $18.six million.
- Announced its initially quarterly revenues by means of HemPoland resulting in $1.9 million of income for the fourth quarter.
- Accelerated building spending at Hamilton and Valleyfield web sites to $39.five million in the fourth quarter, an improve of 19%, or $six.four million compared to $33.1 million in the third quarter 2018.
- Completed a $76.two million purchased deal financing priced at $six.85 per unit.
- Knowledgeable a loss from operations of $18.1 million ($44.five million for the complete 2018 fiscal year) as a outcome of ramping up operations, quite a few customer investigation activities, and administration in preparation for industrial production in 2019.
The Organization excelled in the following regions:
- Completed the biggest Canadian cannabis IPO, which closed on Might 2nd, 2018, raising gross proceeds of $132.three million, like overallotment.
- Completed two purchased offers worth $101.two million in gross proceeds.
- Completed private placements worth $77.six million in gross proceeds.
- Received reiterated help from the investor neighborhood with $63.four million in warrants exercised.
- Accelerated building spending at Hamilton and Valleyfield web sites to $96.eight million all through the year.
- Improved total planned international production capacity to 219,000 kgs with enhanced design and style and engineering updates at its Canadian facilities.
International presence and important partnerships:
- Opened the initially dispensary, with its companion Epican Medicinals, in Kingston, Jamaica.
- Formed joint venture with Knud Jepsen in Denmark to concentrate on production of cannabis and cannabis oils and create and patent revolutionary cannabis genetics.
- Developed joint venture with LLACA Groupo Empresarial for distribution of health-related cannabis into roughly 7,600 pharmacies and shops in Mexico.
- Concluded a collaboration agreement with Velvet Management, a new corporation produced by the biggest wine distributor in Canada, Philippe Dandurand Wines focused on cannabis sales and distribution.
- Secured exclusive licensing rights to Stillwater Foods’ RIPPLE SC patent pending soluble cannabinoid ingredient technologies and Evolab and CBx Sciences brands and proprietary cannabinoid vaporization technologies for the Canadian marketplace.
- Incorporated a number of subsidiaries about the globe like in the Netherlands, Greece, Colombia and Germany to execute the Company’s international vision.
Other important updates
- Appointed Mr. Prem Virmani as the Company’s Beverage Science and Investigation Division Chairman. Invested more than $two.eight million into Investigation and Improvement connected costs in 2018.
- Appointed Brian Athaide as the Company’s CEO, and expanded executive group, bringing more than 200 years of combined knowledge and leadership from the customer item goods and pharmaceutical industries into the Organization.
- Announced a spin-off transaction on July 19th, 2018 to supply TGOD shareholders with an chance to participate in the seed round financing of a newly formed corporation to concentrate on international possibilities and assets not core to the Company’s company.
“2018 has been a pivotal year for the Organization. The accomplishments our group has produced have been absolutely nothing shy of incredible”, mentioned Brian Athaide, Director and CEO of the Organization. “The Organization has raised substantial capital and grown the group with the addition of deep experience and exceptionally skilled specialists to each management and our Board,” continued Athaide. “We are incredibly excited for 2019 and we stay focused on delivering on the Company’s operational plans of creating and bringing to marketplace higher excellent, premium certified organic cannabis.”
ABOUT THE GREEN ORGANIC DUTCHMAN HOLDINGS LTD.
The Green Organic Dutchman Holdings Ltd. (TSX:TGOD) is a publicly traded, premium international organic cannabis corporation, with operations focused on health-related cannabis markets in Canada, Europe, the Caribbean and Latin America, as nicely as the Canadian adult-use marketplace. The Organization grows higher excellent, organic cannabis with sustainable, all-all-natural principles. TGOD’s goods are laboratory tested to assure individuals have access to a standardized, secure and constant item. TGOD has a planned capacity of 219,000 kgs and is creating 1,643,600 sq. ft. of cultivation and processing facilities across Ontario, Quebec, Jamaica and Denmark.
TGOD’s Prevalent Shares and warrants issued beneath the indenture dated November 1, 2017 trade on the TSX beneath the symbol “TGOD” and “TGOD.WT”, respectively.
For much more details on The Green Organic Dutchman Holdings Ltd., please visit www.tgod.ca
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