Cultivation License Secured for TGOD's Operations in Denmark

The Green Organic Dutchman Holdings Ltd.. (TSX: TGOD) (US: TGODF) is pleased to announce that the Danish Medicines Agency, the Government body responsible for issuing cannabis associated licenses, has given an initial cannabis business consent to TGOD’s joint venture production partner Knud Jepsen. This licence will allow the JV partner Kund Jepsen of TGOD to instantly begin importation of starting materials and to start development and research related to the development of elite cannabis genetics. Per the terms of the newly completed definitive agreement, Knud Jepsen will submit a request to the Danish Medicines Agency for the mission of the licence to the TGOD-Knud Jepsen Danish joint venture, a process that is already underway and anticipated to be completed within the coming weeks.

The licence, issued under the Development Scheme of the Danish Medicines Agency, enables the importation of materials, the receipt, possession, cultivation and processing of cannabis, and export and distribution of analytical samples to labs. After the cultivation and harvest of three crops that are consistent and confirmed, another authorization licence will be issued allowing for the sale of medicinal cannabis products.

“We are incredibly happy with the quick receipt of the permit from the Danish Medicines Agency,” commented Frands Jepsen, Knud Jepsen’sCEO. “The initial licence was received promptly after the submission, and the Danish Medicines Agency provided great transparency throughout the process. During 80 years of trusted operations in Denmark, we have 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 include a 37,500 sq. ft. phase one production facility with an expected annual capacity of 2,500 kgs per year with an initial focus on providing the Danish medical market. The hybrid facility will be located within the large-scale operations of Knud Jepsen in Hinnerup, Denmark, and the property includes room for expansion on the land of Knud Jepsen as global markets open and demand orders. The formerly contemplated (see June 27, 2018 news release) 25,000 kg of production in Denmark will shift to various lower cost production jurisdictions throughout Europe. TGOD will have the exclusive right to all cannabis-related production from the JV via a offtake agreement. 

TGOD and Knud Jepsen have also formed a genetics-focused JV, which will include a 5,500 sq. ft. R&D centre for cannabis-related trials and testing to produce and house elite materials. Knud Jepsen’s laboratory will be retrofitted to start strong R&D trials with the objective of patenting and commercializing novel discoveries. The facility will be ready to obtain cannabis starting materials in the coming weeks.

“Knud Jepsen is an established leader with a history of excellence in genetic discoveries, R&D and large-scale cultivation,” commented Brian Athaide, Director and CEO of TGOD. “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

The Green Organic Dutchman Holdings Ltd. is a publicly traded, premium global organic cannabis company, with operations concentrated on medical cannabis markets in Canada, Europe, the Caribbean and Latin America, as well as the Canadian adult-use market. All-natural principles, high quality cannabis with sustainable is grown by the business. TGOD’s products are laboratory tested to ensure patients have access to a safe, standardized and consistent product. TGOD has a financed capacity of 170,000 kgs and is constructing 1,382,000 sq. ft. of farming centers across Ontario, Quebec, Denmark and Jamaica.

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.

Forward looking statements in this release includes, but isn’t limited to, statements about the awarding or mission of any permit, statements about future business ventures, statements about future research, development and innovation by the business, statements about the offering of any specific products by the business in any specific territory and statements regarding the future growth plans or performance of the corporation. Forward-looking statements are frequently characterized by words such as”plan”,”continue”,”expect”,”project”,”intend”,”believe”,”expect”,”estimate”,”may”,”will”,”potential”,”proposed” and other similar words, or statements that certain events or conditions”may” or”will” occur. These statements are just predictions. Numerous assumptions were used in drawing the conclusions or making the projections found throughout this news release in the forward-looking statements. 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 business expressly disclaims any intention or obligation, and is under no obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by 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.

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SOURCE The Green Organic Dutchman Holdings Ltd..

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Released at Tue, 29 Jan 2019 12:56:06 +0000

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