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Be the first with the news that moves the market- The Green Organic Dutchman (TSX:TGOD) has received a Health Canada licensing amendment for its Ancaster processing facility
- The amendment includes approval of automated production and processing capabilities
- This will allow the company to reduce its reliance on third parties, and to ramp up production
- The company is already planning for the launch of various new packaged goods
- The Green Organic Dutchman (TGOD) is up 5 per cent, and is currently trading for C$0.32 per share
Cannabis company, The Green Organic Dutchman (TSX:TGOD) has received the final Health Canada licensing amendment for its Ancaster processing facility.
The licence amendment gives approval to a state-of-the-art, automated production facility, which will support TGOD’s in-house processing activities. The large facility will have spaces dedicated to packaging cannabis flowers, oils, pre-rolls, and several Cannabis 2.0 products.
With the completion of the Ancaster site’s licensing process, TGOD will now rely less on third parties for various services. This will allow the company to accelerate its supply chain timelines, and subsequent product launches. The licensing will also improve TGOD’s quality assurance capabilities.
TGOD’s CEO, Brian Athaide, commented that receiving the licence amendment was a key element of the company’s 2020 operating plan.
“We made significant investments in this state-of-the-art facility. Now that it is fully licensed, Ancaster can finalise the ramp-up of its production capacity.
“The processing facility reduces our reliance on third parties for packaging, secured storage, and our next wave of 2.0 product launches,” he said.
With the production facility now fully licensed, TGOD is already planning the launch of new products in the near future.
“Beyond the successful launch of our TGOD Infusers, we are planning to launch a series of differentiated consumer packaged goods. These include organic teas and vapes in Q2, as well as edibles, beverages, and topicals later this year,” Brian said.
The licence amendment for the Acaster facility is valid until August 16, 2022. It is subject to the customary terms and conditions.
The Green Organic Dutchman (TGOD) is up 5 per cent, and is currently trading for C$0.32 per share, as of 12:03pm EST.
