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Green Organic receives OK to amend Ancaster licence

2020-03-30 09:12 ET - News Release

Mr. Brian Athaide reports

THE GREEN ORGANIC DUTCHMAN RECEIVES HEALTH CANADA LICENCE AMENDMENT FOR ITS ANCASTER PROCESSING FACILITY

The Green Organic Dutchman Holdings Ltd. has received Health Canada's approval for the licensing of the final component of its Ancaster site, the processing facility.

The licence amendment includes approval of a state-of-the-art production facility designed to support processing activities, including dedicated spaces for the packaging of: flowers; oils; prerolls; and several Cannabis 2.0 products.

This final phase of expansion at Ancaster enables Green Organic to reduce its reliance on third parties, accelerating its supply chain timelines for product launches. Receiving the licence amendment for this large facility also enhances Green Organic's quality assurance capabilities and marks a key milestone in eliminating bottlenecks in its production ramp-up.

The licence amendment is valid until Aug. 16, 2022, and is subject to customary terms and conditions.

"Receiving this licence amendment was a key element of our 2020 operating plan. We made significant investments in this state-of-the-art facility, and now that it is fully licensed, Ancaster can finalize the ramp-up of its production capacity," commented Brian Athaide, chief executive officer of Green Organic. "The processing facility reduces our reliance on third parties for packaging, secured storage and for our next wave of 2.0 product launches. Beyond the successful launch of our TGOD infusers, we are planning to launch a series of differentiated consumer packaged goods, including: (i) organic teas and vapes in Q2; and (ii) edibles, beverages and topicals later this year."

About The Green Organic Dutchman Holdings Ltd.

Green Organic Dutchman Holdings is a premium-certified organic cannabis company focused on the health and wellness market.

We seek Safe Harbor.

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