TORONTO, June 29, 2018 (GLOBE NEWSWIRE) -- The Green Organic Dutchman Holdings Ltd. (the "Company" or "TGOD") (TSX:TGOD) (US:TGODF) is pleased to announce that Prem Virmani has been appointed Chair of TGOD's Beverage Science and Research Division.
Mr. Virmani is the former Senior Vice President of Global Science and Research for Cott Beverages, Inc. where he provided senior leadership in all aspects of beverage technology. Over the course of a 40-year career, he has demonstrated core abilities in building strong R&D organizations and leading innovation. He has led development in every major beverage category, including the Sam's Choice cola program for Walmart, President's Choice cola for Loblaws, and major private label brands for Publix, Wegmans and Safeway. His beverages have been enjoyed by millions of people around the globe.
Mr. Virmani's leadership and expertise enabled Cott to become the world's largest customer brand beverage company. This was acknowledged earlier this year, when he received induction to the Private Label Hall of Fame. Since 2015, he has also been an Adjunct Professor and on the Board of Trustees of Columbus State University in Columbus, Georgia.
"I am delighted that Prem has joined the TGOD Leadership team," said Csaba Reider, President of TGOD. "Having worked with him extensively in the past, I am confident he will deliver consumer-preferred beverages across a wide range of categories and occasions. We will deliver maximum value through great-tasting organic edibles & beverages. No one is more qualified than Prem to help us achieve our vision."
TGOD previously announced the construction of a 287,245 sq. ft. purpose-built production facility on its Valleyfield, Quebec property. This facility will be capable of producing 40,000 kgs of premium organic cannabis dedicated to the Beverage Division. This includes a state-of-the-art manufacturing campus to conduct strain-specific research, develop organic cannabis IP and optimize CBD and THC strains for consumption. Supply chain, packaging, flavor profile, pricing architecture, and product differentiation are key to the future of CBD/THC infused beverages.
"The recent announcement of our dedicated beverage facility within Valleyfield demonstrates our commitment to creating proprietary novel products with varying delivery methods," said Robert Anderson, CEO of TGOD. "The appointment of such a well-respected industry veteran as Prem Virmani further validates our organic business plan. I am confident we will be ready with exceptional CBD & THC infused beverages as legalization takes place around the world."
On Behalf of the Board of Directors,
The Green Organic Dutchman Holdings Ltd.
Chief Executive Officer and Co-Chairman
ABOUT THE GREEN ORGANIC DUTCHMAN HOLDINGS LTD.
The Green Organic Dutchman Holdings Ltd. is a research & development company licensed under the Access to Cannabis for Medical Purposes Regulations ("ACMPR") to cultivate medical cannabis. The Company carries out its principal activities producing cannabis from its facilities in Ancaster, Ont., pursuant to the provisions of the ACMPR and the Controlled Drugs and Substances Act (Canada) and its regulations.
The Company grows high quality, organic cannabis with sustainable, all-natural principles. TGOD's products are laboratory tested to ensure patients have access to a standardized, safe and consistent product. TGOD has a funded capacity of 116,000 kg and is building 970,000 sq. ft. of cultivation facilities in Ontario, Quebec and Jamaica.
The Company has developed a strategic partnership with Aurora Cannabis Inc. (TSX:ACB) whereby Aurora has invested approximately C$78.1 million for an approximate 17.5% stake in TGOD. In addition, the Company has raised approximately C$315 million dollars and has over 20,000 shareholders.
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 Information Cautionary Statement
This news release includes statements containing certain "forward-looking information" within the meaning of applicable securities law ("forward-looking statements"). Forward looking statements in this release includes, but is not limited to, statements about the future legalization of recreational cannabis and cannabis-infused products in Canada, statements about future research, development and innovation by the Company, statements about the offering of any particular products by the Company and statements regarding the future performance of the Company. Forward-looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. 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 Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable 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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