{"id":439794,"date":"2021-02-19T07:33:17","date_gmt":"2021-02-19T12:33:17","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=439794"},"modified":"2021-02-19T07:33:17","modified_gmt":"2021-02-19T12:33:17","slug":"the-green-organic-dutchman-holdings-ltd-provides-update-on-valleyfield-site","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/the-green-organic-dutchman-holdings-ltd-provides-update-on-valleyfield-site\/","title":{"rendered":"The Green Organic Dutchman Holdings Ltd. Provides Update on Valleyfield Site"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<ul type=\"disc\">\n<li>In discussion with potential buyers to redevelop the site <\/li>\n<li>Analyzing opportunities to optimize cost structure while continuing to expand production capacity and redeploying capital <\/li>\n<li>Operations to remain in <span class=\"xn-location\">Quebec<\/span><\/li>\n<\/ul>\n<p>\n        <span class=\"xn-location\">TORONTO<\/span>, <span class=\"xn-chron\">Feb. 19, 2021<\/span> \/PRNewswire\/ &#8211; The Green Organic Dutchman Holdings Ltd. (&#8220;TGOD&#8221;) or the &#8220;Company&#8221;) (TSX: TGOD) (US: TGODF), a leading producer of premium certified organically grown cannabis, today unveiled plans to monetize under-utilized assets at its <span class=\"xn-location\">Valleyfield<\/span> site.<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder1\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/1441033\/TGOD_Detailed_Round_RGB_TGOD_Detailed_Round_rgb_green.html\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/1441033\/TGOD_Detailed_Round_RGB_TGOD_Detailed_Round_rgb_green.jpg\" title=\"The Green Organic Dutchman Holdings Ltd. (CNW Group\/The Green Organic Dutchman Holdings Ltd.)\" alt=\"The Green Organic Dutchman Holdings Ltd. (CNW Group\/The Green Organic Dutchman Holdings Ltd.)\" \/><br \/>\n          <\/a>\n        <\/p>\n<\/p><\/div>\n<p>In 2019 TGOD made the strategic decision to use its <span class=\"xn-location\">Valleyfield<\/span> site as a processing hub while maintaining the optionality to start cultivation at a later date. TGOD has now retained the services of a commercial real estate advisor to identify potential buyers for its <span class=\"xn-location\">Valleyfield<\/span> site, focused on the state-of-the-art hybrid main greenhouse. \u00a0Multiple bids are being considered, and the transaction could result in a complete or partial sale of the site.<\/p>\n<p>&#8220;The Canadian cannabis landscape has evolved since legalization and so have our real estate requirements.\u00a0 With our shift to the value-added part of the production chain, large indoor cultivation facilities such as <span class=\"xn-location\">Valleyfield<\/span> are no longer necessary to continue growing our business,&#8221; stated <span class=\"xn-person\">Sean Bovingdon<\/span>, TGOD&#8217;s Chief Financial Officer and Interim Chief Executive Officer. &#8220;Selling a portion or the totality of the greenhouse will result in a significant reduction in operating costs while providing capital to reduce debt and reinvest in future growth opportunities, including considerations in the US.&#8221;<\/p>\n<p>\n        <b>Adapting to Changing Market Conditions<br \/><\/b>The Canadian cannabis industry has gone through a deep transformation with the approval of outdoor cultivation sites \u2013 approximately 450 acres of land were used for outdoor cannabis cultivation in 2020.\u00a0 This shift disrupted many licensed producers&#8217; business plans and resulted in biomass surpluses.\u00a0 Based on current market forecasts, TGOD&#8217;s main greenhouse in <span class=\"xn-location\">Valleyfield<\/span> could be, for the right offer, monetized to allow the Company to continue its path to right sizing and profitable operations. Expected export opportunities are addressable with existing production capacity, while the option to purchase cannabis biomass from other producers for extraction, including in <span class=\"xn-location\">Quebec<\/span>, offers a more efficient use of capital.\u00a0 The Company remains committed to maintaining a significant portion of its operations, including all 2.0 product manufacturing, in <span class=\"xn-location\">Quebec<\/span>.<\/p>\n<p>\n        <b>Organic Certification<br \/><\/b>With an organic certification from Pro-Cert, TGOD continues to benefit from its unique positioning as a licensed producer of premium certified organically grown cannabis.\u00a0 Its fully licensed site in <span class=\"xn-location\">Ancaster, ON<\/span> produces premium dried flower used as part of TGOD&#8217;s portfolio with a focus on craft quality cannabis and genetics research.\u00a0 The Company intends to continue relying on <span class=\"xn-location\">Ancaster<\/span> for organic flower production while tapping the organic wholesale market for its extraction needs.<\/p>\n<p>\n        <b>About The Green Organic Dutchman Holdings Ltd.<br \/><\/b>The Green Organic Dutchman Holdings Ltd. (TSX:\u00a0<a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3072644-1&amp;h=696918418&amp;u=https%3A%2F%2Fwww.newswire.ca%2Fnews-releases%2Ftgod-rolls-out-highly-dutch-organic-808591498.html%23financial-modal&amp;a=TGOD\" rel=\"nofollow noopener noreferrer\">TGOD<\/a>) (US\u2013OTC: TGODF) is a premium certified organically grown cannabis company focused on the health and wellness market.\u00a0 Its organic cannabis is cultivated in living soil, as nature intended.\u00a0 The Company is committed to cultivating a better tomorrow by producing its products responsibly, with less waste and impact on the environment. Its two Canadian facilities have been built to LEED certification standards and its products are sold in recyclable packaging.\u00a0 In\u00a0Canada, TGOD sells dried flower and oil, and recently launched a series of next\u2013generation cannabis products such as hash, vapes, organic teas and dissolvable powders.\u00a0 Through its European subsidiary, HemPoland, the Company also distributes premium hemp CBD oil and CBD-infused topicals in\u00a0Europe. By leveraging science and technology, TGOD harnesses the power of nature from seed to sale.<\/p>\n<p>TGOD&#8217;s Common Shares and warrants issued under the indentures dated\u00a0November 1, 2017, <span class=\"xn-chron\">December 19, 2019<\/span>, <span class=\"xn-chron\">June 12, 2020<\/span>, <span class=\"xn-chron\">October 23, 2020<\/span>, and <span class=\"xn-chron\">December 10, 2020<\/span> trade on the TSX under the symbol &#8220;TGOD&#8221;, &#8220;TGOD.WT&#8221;, &#8220;TGOD.WS&#8221;, &#8220;TGOD.WR&#8221;, &#8220;TGOD.WA&#8221; and &#8220;TGOD.WB&#8221;, respectively, and TGODF trades in the US on the OTCQX. For more information on The Green Organic Dutchman Holdings Ltd., please visit\u00a0<u><a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3072644-1&amp;h=2271354766&amp;u=https%3A%2F%2Fc212.net%2Fc%2Flink%2F%3Ft%3D0%26l%3Den%26o%3D2813003-1%26h%3D366733943%26u%3Dhttp%253A%252F%252Fwww.tgod.ca%252F%26a%3Dwww.tgod.ca&amp;a=www.tgod.ca\" rel=\"nofollow noopener noreferrer\">www.tgod.ca<\/a><\/u>.<\/p>\n<p>\n        <b>Cautionary Statements<br \/><\/b>This news release includes statements containing certain &#8220;forward\u2013looking information&#8221; within the meaning of applicable securities law (&#8220;forward\u2013looking statements&#8221;). Forward looking statements in this release include, but are not limited to, statements about production capacity and statements about demand for indoor cultivation real estate.\u00a0 Forward\u2013looking statements are frequently characterized by words such as &#8220;plan&#8221;, &#8220;continue&#8221;, &#8220;expect&#8221;, &#8220;project&#8221;, &#8220;intend&#8221;, &#8220;should&#8221;, &#8220;believe&#8221;, &#8220;anticipate&#8221;, &#8220;estimate&#8221;, &#8220;may&#8221;, &#8220;will&#8221;, &#8220;potential&#8221;, &#8220;proposed&#8221; and other similar words, or statements that certain events or conditions &#8220;may&#8221; or &#8220;will&#8221; occur. These statements are only predictions.\u00a0 Various assumptions were used in drawing the conclusions or making the projections contained in the forward\u2013looking statements throughout this news release. Forward\u2013looking 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 (including market conditions) and other factors that could cause actual events or results to differ materially from those projected in the forward\u2013looking statements, including those risk factors described in the Company&#8217;s most recently filed Annual Information Form available on SEDAR.\u00a0 The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward\u2013looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.<\/p>\n<p>Neither the TSX nor the TSX&#8217;s 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.<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder2\"><\/div>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=TO84794&amp;sd=2021-02-19\" \/> View original content to download multimedia:<a id=\"PRNURL\" rel=\"nofollow\" href=\"http:\/\/www.prnewswire.com\/news-releases\/the-green-organic-dutchman-holdings-ltd-provides-update-on-valleyfield-site-301231430.html\">http:\/\/www.prnewswire.com\/news-releases\/the-green-organic-dutchman-holdings-ltd-provides-update-on-valleyfield-site-301231430.html<\/a><\/p>\n<p>SOURCE  The Green Organic Dutchman Holdings Ltd.<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=TO84794&amp;Transmission_Id=202102190730PR_NEWS_USPR_____TO84794&amp;DateId=20210219\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire In discussion with potential buyers to redevelop the site Analyzing opportunities to optimize cost structure while continuing to expand production capacity and redeploying capital Operations to remain in Quebec TORONTO, Feb. 19, 2021 \/PRNewswire\/ &#8211; The Green Organic Dutchman Holdings Ltd. (&#8220;TGOD&#8221;) or the &#8220;Company&#8221;) (TSX: TGOD) (US: TGODF), a leading producer of premium certified organically grown cannabis, today unveiled plans to monetize under-utilized assets at its Valleyfield site. In 2019 TGOD made the strategic decision to use its Valleyfield site as a processing hub while maintaining the optionality to start cultivation at a later date. TGOD has now retained the services of a commercial real estate advisor to identify potential buyers for its Valleyfield site, focused on &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/the-green-organic-dutchman-holdings-ltd-provides-update-on-valleyfield-site\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;The Green Organic Dutchman Holdings Ltd. Provides Update on Valleyfield Site&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-439794","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The Green Organic Dutchman Holdings Ltd. Provides Update on Valleyfield Site - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/the-green-organic-dutchman-holdings-ltd-provides-update-on-valleyfield-site\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Green Organic Dutchman Holdings Ltd. Provides Update on Valleyfield Site - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire In discussion with potential buyers to redevelop the site Analyzing opportunities to optimize cost structure while continuing to expand production capacity and redeploying capital Operations to remain in Quebec TORONTO, Feb. 19, 2021 \/PRNewswire\/ &#8211; The Green Organic Dutchman Holdings Ltd. (&#8220;TGOD&#8221;) or the &#8220;Company&#8221;) (TSX: TGOD) (US: TGODF), a leading producer of premium certified organically grown cannabis, today unveiled plans to monetize under-utilized assets at its Valleyfield site. In 2019 TGOD made the strategic decision to use its Valleyfield site as a processing hub while maintaining the optionality to start cultivation at a later date. TGOD has now retained the services of a commercial real estate advisor to identify potential buyers for its Valleyfield site, focused on &hellip; Continue reading &quot;The Green Organic Dutchman Holdings Ltd. 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(&#8220;TGOD&#8221;) or the &#8220;Company&#8221;) (TSX: TGOD) (US: TGODF), a leading producer of premium certified organically grown cannabis, today unveiled plans to monetize under-utilized assets at its Valleyfield site. In 2019 TGOD made the strategic decision to use its Valleyfield site as a processing hub while maintaining the optionality to start cultivation at a later date. TGOD has now retained the services of a commercial real estate advisor to identify potential buyers for its Valleyfield site, focused on &hellip; Continue reading \"The Green Organic Dutchman Holdings Ltd. 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