{"id":454313,"date":"2021-03-09T17:50:49","date_gmt":"2021-03-09T22:50:49","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=454313"},"modified":"2021-03-09T17:50:49","modified_gmt":"2021-03-09T22:50:49","slug":"the-green-organic-dutchman-reports-fourth-quarter-and-year-end-2020-financial-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/the-green-organic-dutchman-reports-fourth-quarter-and-year-end-2020-financial-results\/","title":{"rendered":"The Green Organic Dutchman Reports Fourth Quarter and Year End 2020 Financial Results"},"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>\n          <b>Appointment of permanent Chief Executive Officer<\/b>\n        <\/li>\n<li>\n          <b>Fourth quarter revenue of <span class=\"xn-money\">$10.92 million<\/span>, a 91% increase quarter-over-quarter<\/b>\n        <\/li>\n<li>\n          <b>Canadian cannabis revenue of <span class=\"xn-money\">$8.55 million<\/span> for the quarter, an increase of 122% over the prior quarter<\/b>\n        <\/li>\n<li>\n          <b>G&amp;A reduction of 59% compared to the same period in 2019<\/b>\n        <\/li>\n<li>\n          <b>Full year revenue of <span class=\"xn-money\">$24.51 million<\/span>, a 120% increase year-over-year<\/b>\n        <\/li>\n<\/ul>\n<p>\n        <span class=\"xn-location\">TORONTO<\/span>, <span class=\"xn-chron\">March 9, 2021<\/span> \/PRNewswire\/ &#8211;\u00a0The Green Organic Dutchman Holdings Ltd. (the &#8220;Company&#8221; or &#8220;TGOD&#8221;) (TSX: TGOD) (US: TGODF), a leading producer of premium certified organically grown cannabis, reports its results for the fourth quarter and fiscal year ended <span class=\"xn-chron\">December 31, 2020<\/span>. These filings are available for review on the Company&#8217;s SEDAR profile at <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3092030-1&amp;h=2948801025&amp;u=http%3A%2F%2Fwww.sedar.com%2F&amp;a=www.sedar.com\" rel=\"nofollow noopener noreferrer\">www.sedar.com<\/a>.<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder1\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/1453172\/The_Green_Organic_Dutchman_Holdings_Ltd__The_Green_Organic_Dutch.html\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/1453172\/The_Green_Organic_Dutchman_Holdings_Ltd__The_Green_Organic_Dutch.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>\n        <b>Appointment of Permanent CEO<\/b>\n      <\/p>\n<p>The Company announced that its board of directors has appointed <span class=\"xn-person\">Sean Bovingdon<\/span> as Chief Executive Officer (CEO), and member of the board, effective immediately. Mr. Bovingdon had previously been appointed as Interim CEO in <span class=\"xn-chron\">November 2020<\/span> while continuing to serve as CFO. He will continue as interim CFO while the Company undertakes a search for a permanent Chief Financial Officer.<\/p>\n<p>&#8220;Sean has been very effective in leading the company through these extremely challenging past few months. He stepped into the interim-CEO position and has demonstrated outstanding leadership,&#8221; stated <span class=\"xn-person\">Jeff Scott<\/span>, Chairman of the board. &#8220;Sean has the strategic vision and experience to effectively guide TGOD through its next phase of growth. On behalf of the board of directors, I am very pleased to appoint Sean as CEO of the company.&#8221;<\/p>\n<p>\n        <b>Management Commentary<\/b>\n      <\/p>\n<p>&#8220;We delivered strong growth in 2020 thanks to the expansion of our product assortment, including the launch of Highly Dutch, and continuous improvements to our supply chain.\u00a0 This accomplishment, realized against a challenging backdrop, reflects the quality of our products, underpinned by our talented and committed team,&#8221; commented <span class=\"xn-person\">Sean Bovingdon<\/span>, TGOD&#8217;s CEO and interim CFO.<\/p>\n<p>&#8220;We remain laser-focused on operational execution as we chart the course for future growth, including opportunities in <span class=\"xn-location\">Europe<\/span>, <span class=\"xn-location\">Mexico<\/span> and <span class=\"xn-location\">the United States<\/span>. We remain optimistic about the Company&#8217;s financial prospects but envision a path forward where continued financial discipline will play a key role. While our Canadian facilities continue to remain open as providing an essential service to our customers during the COVID-19 pandemic, we note several retailers were not able to remain fully open especially during Q1-2021, and therefore we expect a delay in the rate of growth until at least Q2-2021. Our recently launched Organic Sugar Bush, a high-THC Sativa variety, reflecting the quality and potency improvements we have achieved, and our new Hash SKUs are expected to provide an added boost to our sales mix in the coming months.&#8221; added Bovingdon.<\/p>\n<p>\n        <b>Fourth Quarter Business<\/b><br \/>\n        <b>\u00a0Highlights<\/b>\n      <\/p>\n<p>The Company:<\/p>\n<ul type=\"disc\">\n<li>Earned quarterly revenues of <span class=\"xn-money\">$10.92 million<\/span> in Q4-2020 in comparison to <span class=\"xn-money\">$3.25 million<\/span> in Q4-2019 and <span class=\"xn-money\">$5.71<\/span> in Q3-2020. This represents an increase of 236% and 91%, year-over-year and quarter-over-quarter, respectively. Annual revenue for fiscal 2020 was <span class=\"xn-money\">$24.51 million<\/span> in comparison to <span class=\"xn-money\">$11.16 million<\/span> for the prior year. Sales from cannabis products in <span class=\"xn-location\">Canada<\/span> of <span class=\"xn-money\">$8.55 million<\/span> for Q4-2020 (<span class=\"xn-money\">$15.76 million<\/span> for the year ended <span class=\"xn-chron\">December 31, 2020<\/span>) and hemp-derived product sales in <span class=\"xn-location\">Europe<\/span> of <span class=\"xn-money\">$2.37 million<\/span> for Q4-2020 (<span class=\"xn-money\">$8.75 million<\/span> for the year ended <span class=\"xn-chron\">December 31, 2020<\/span>).\n<\/li>\n<li>Increased sales in <span class=\"xn-location\">Canada<\/span> across all product lines, supported by a significant ramp up in production at the Company&#8217;s <span class=\"xn-location\">Ancaster<\/span> and <span class=\"xn-location\">Valleyfield<\/span> facilities.\n<\/li>\n<li>Continued to benefit from its cost control programs with further reductions in G&amp;A expenses, down <span class=\"xn-money\">$7.91 million<\/span> year over year. Compared to Q3-2020, G&amp;A expenses increased slightly by <span class=\"xn-money\">$0.55 million<\/span>, primarily reflecting higher legal and professional fees related to the annual general and special meeting held in December, exchange listing fees, and the gradual salary reinstatement for certain lower level and middle management staff back to 100% of their original salaries to support the ramp up in sales.\n<\/li>\n<li>Registered a net loss of <span class=\"xn-money\">$23.68 million<\/span> for the quarter compared to <span class=\"xn-money\">$144.75 million<\/span> for the same period during the prior year, comprised primarily of the loss from operations and a write-down of <span class=\"xn-money\">$8.65 million<\/span> in goodwill related to HemPoland.<\/li>\n<\/ul>\n<p>\n        <b>Other Highlights for the Fourth Quarter<\/b>\n      <\/p>\n<ul type=\"disc\">\n<li>On <span class=\"xn-chron\">October 1, 2020<\/span>, the Company agreed with its lender under its revolving credit facility to extend the maturity date for its Revolver Loan to <span class=\"xn-chron\">December 31, 2021<\/span> in exchange for Common Share purchase warrants to purchase 500,000 Common Shares at a price of <span class=\"xn-money\">$0.30<\/span> per share for a period of 60 months.\n<\/li>\n<li>On <span class=\"xn-chron\">October 2, 2020<\/span>, the Company agreed with its senior lender to extend the maturity date for its senior secured credit facility to <span class=\"xn-chron\">December 15, 2021<\/span> in exchange for payment of a financing fee of <span class=\"xn-money\">$0.4 million<\/span>, repricing of Common Share purchase warrants to purchase 7,000,000 Common Shares expiring <span class=\"xn-chron\">December 20, 2022<\/span> from an exercise price of <span class=\"xn-money\">$1.00<\/span> per share to an exercise price of <span class=\"xn-money\">$0.30<\/span> per share, and issuance of additional Common Share purchase warrants to purchase 1,000,000 Common Shares at an exercise price of <span class=\"xn-money\">$0.30<\/span> for a period of 60 months.\n<\/li>\n<li>On <span class=\"xn-chron\">October 23, 2020<\/span>, the Company obtained gross equity financing proceeds of <span class=\"xn-money\">$12.78 million<\/span> by issuing a total of 53,263,400 units of the Company at a price per Unit of <span class=\"xn-money\">$0.24<\/span>. Each Unit of the October Offering was comprised of one Common Share of the Company and three-quarters of one Common Share purchase warrant of the Company, with each whole warrant being exercisable at <span class=\"xn-money\">$0.30<\/span> into one Common Share of the Company for a period of 60 months.\n<\/li>\n<li>On <span class=\"xn-chron\">November 27, 2020<\/span>, the Company filed a Base Shelf Prospectus (&#8220;Base Shelf Prospectus&#8221;), qualifying the distribution of up to <span class=\"xn-money\">$50 million<\/span> of securities of the Company to be raised through the issuance of various debt and equity securities of the Company over a period of up to 25 months from the date of the Base Shelf Prospectus through the filing of prospectus supplements. Prior to <span class=\"xn-chron\">December 31, 2020<\/span>, the Company filed two prospectus supplements under the Base Shelf Prospectus, including: <\/li>\n<ul type=\"circle\">\n<li>On <span class=\"xn-chron\">December 2, 2020<\/span>, the Company filed an at-the-market prospectus supplement (&#8220;ATM&#8221;) permitting the company to raise up to <span class=\"xn-money\">$15 million<\/span> of common Shares. The Company did not issue any Common Shares under its ATM for the year ended <span class=\"xn-chron\">December 31, 2020<\/span>. However, after <span class=\"xn-chron\">December 31, 2020<\/span>, the Company issued 14,341,958 Common Shares under the ATM for gross proceeds of <span class=\"xn-money\">$7.89 million<\/span>. <\/li>\n<li>On <span class=\"xn-chron\">December 10, 2020<\/span>, the Company completed a bought deal equity financing whereby it issued 45,178,900 units of the Company at <span class=\"xn-money\">$0.28<\/span> per unit for gross proceeds of <span class=\"xn-money\">$12.65 million<\/span>. Each such unit consisted of one Common Share and one warrant of the Company exercisable into one Common Share at an exercise price of <span class=\"xn-money\">$0.35<\/span> for a period of 60 months from the closing date of the transaction.\n<\/li>\n<\/ul>\n<li>On <span class=\"xn-chron\">November 24, 2020<\/span>, the Company announced that it has received an Export Certificate from Health Canada. This certificate enabled the Company to complete its first shipment of medical cannabis to <span class=\"xn-location\">Germany<\/span>, where it is undergoing stability testing, the last step before the Company can commence commercialization in 2021. The Company chose to obtain its EU-GMP certification from <span class=\"xn-location\">Germany<\/span> because of its high standards and its progressive medical cannabis framework. The Company anticipates that once completed, it would also be able to ship to <span class=\"xn-location\">Australia<\/span> and <span class=\"xn-location\">Mexico<\/span>, where regulations permit. <\/li>\n<\/ul>\n<p>\n        <b>Key Updates Subsequent to the Quarter <\/b>\n      <\/p>\n<p>The Company:<\/p>\n<ul type=\"disc\">\n<li>Expanded distribution of Highly Dutch Organic Afghan Black, a high-quality hash, now available in <span class=\"xn-location\">British Columbia<\/span>, <span class=\"xn-location\">Manitoba<\/span>, <span class=\"xn-location\">Quebec<\/span>, and <span class=\"xn-location\">Newfoundland<\/span>, with plans to further expand distribution across other provinces.\n<\/li>\n<li>Launched Amsterdam Sativa under the Highly Dutch brand, now offered in three different formats, 3.5g, 15g, and 28g. Amsterdam Sativa will initially be available in <span class=\"xn-location\">Alberta<\/span>, <span class=\"xn-location\">Saskatchewan<\/span>, <span class=\"xn-location\">Manitoba<\/span>, <span class=\"xn-location\">Ontario<\/span>, <span class=\"xn-location\">Quebec<\/span>, and <span class=\"xn-location\">Newfoundland<\/span>.\n<\/li>\n<li>Launched RIPPLE Gummies by TGOD, the first cannabis-infused confectionary product to offer a scientifically validated 15-minute onset. RIPPLE Gummies are initially expected to be available in <span class=\"xn-location\">Alberta<\/span>, <span class=\"xn-location\">British Columbia<\/span>, and <span class=\"xn-location\">Manitoba<\/span>, with plans to expand distribution across the country once provincial listings are received. As part of its licensing agreement with <span class=\"xn-location\">Stillwater<\/span>, the Company plans to further expand its RIPPLE offering with additional flavours Honey Infusion CBD and Mango Balance, scheduled to launch in the second quarter of 2021.\n<\/li>\n<li>Announced the addition of Organic Sugar Bush to its portfolio of premium strains. Organic Sugar Bush, a high-THC Sativa variety, was developed based on feedback from consumers. It gets its name from <span class=\"xn-location\">Quebec&#8217;s<\/span> maple forests \u2013 the source of the maple syrup used to nurture the soil it grows in. The launch of Organic Sugar Bush is the continuation of the Company&#8217;s plans to introduce innovative strains as part of its premium portfolio.\n<\/li>\n<li>Unveiled plans to transition its medical business to a wholesale model effective <span class=\"xn-chron\">April 1<\/span><sup>st<\/sup>, 2021, in line with other pharmaceutical distribution models. The Company has agreements in place with Medical Cannabis by Shoppers and other medical distributors and clinics, with plans to increase its presence within the medical market as it transitions from its legacy direct-to-patient model.\n<\/li>\n<li>Announced that it has signed a supply agreement with CannMart, a subsidiary of Namaste Technologies Inc., making its certified organic medical cannabis products available via CannMart&#8217;s online medical cannabis sales platform. Under the Company&#8217;s two-year term agreement with CannMart, the Company will provide CannMart with a broad portfolio of certified organic medical cannabis products, including premium dried flower, RIPPLE dissolvable powder, gummies, and teas.\n<\/li>\n<li>Announced that it was seeking to monetize under-utilized assets at its Quebec Facility and had retained the services of a commercial real estate advisor to identify potential buyers for the site, focused on the state-of-the-art hybrid main greenhouse. The transaction could result in a complete or partial sale of the site. 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>, either at a portion of the Quebec Facility or at an alternative <span class=\"xn-location\">Quebec<\/span> site.\n<\/li>\n<li>Confirmed that 24,197,600 warrants were exercised into Common Shares in <span class=\"xn-chron\">February 2021<\/span> by certain warrant holders for gross proceeds of <span class=\"xn-money\">$7.56 million<\/span>.<\/li>\n<\/ul>\n<p>\n        <b>Investor conference call to discuss fourth quarter and year-end results<\/b>\n      <\/p>\n<p>Management will host a conference call with analysts on <span class=\"xn-chron\">March 10<\/span> at 10:00 a.m. Eastern Time\u00a0to discuss the results. Participants may access the call by dialing 416-764-8688 (<span class=\"xn-location\">Toronto<\/span>) or 1-888-390-0546 (<span class=\"xn-location\">North America<\/span>); Conference ID 77691974. For those unable to participate on the live call, a playback will be available for one week after the conference call using this URL: <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3092030-1&amp;h=2203306266&amp;u=https%3A%2F%2Fproduceredition.webcasts.com%2Fstarthere.jsp%3Fei%3D1430575%26tp_key%3D12eae41433&amp;a=https%3A%2F%2Fproduceredition.webcasts.com%2Fstarthere.jsp%3Fei%3D1430575%26tp_key%3D12eae41433\" rel=\"nofollow noopener noreferrer\"><br \/>https:\/\/produceredition.webcasts.com\/starthere.jsp?ei=1430575&amp;tp_key=12eae41433<\/a><\/p>\n<p>\n        <b>About The Green Organic Dutchman Holdings Ltd.<\/b>\n      <\/p>\n<p>The Green Organic Dutchman Holdings Ltd. (TSX:\u00a0<a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3092030-1&amp;h=2690481207&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 <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.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=3092030-1&amp;h=246759979&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        <i>Forward-Looking Information Cautionary Statement<\/i>\n      <\/p>\n<p>\n        <i>This news release includes statements containing certain &#8220;forward-looking information&#8221; within the meaning of applicable securities law (&#8220;forward-looking statements&#8221;). Forward looking statements in this release includes, but is not limited to, statements about future revenue, statements about production timing, efficiencies, capacities and ramp-up, statements about future production, statements about achievement of positive cash flow and value for shareholders, statements about reduction in general and administrative expenses, statements about the offering of any particular products by the Company in any jurisdiction and statements regarding the future performance of the Company. Forward-looking statements are frequently characterized by words such as &#8220;plan&#8221;, &#8220;continue&#8221;, &#8220;expect&#8221;, &#8220;project&#8221;, &#8220;intend&#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. 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.<\/i>\n      <\/p>\n<p>\n        <i>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.<\/i>\n      <\/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=TO04525&amp;sd=2021-03-09\" \/> View original content to download multimedia:<a id=\"PRNURL\" rel=\"nofollow\" href=\"http:\/\/www.prnewswire.com\/news-releases\/the-green-organic-dutchman-reports-fourth-quarter-and-year-end-2020-financial-results-301243978.html\">http:\/\/www.prnewswire.com\/news-releases\/the-green-organic-dutchman-reports-fourth-quarter-and-year-end-2020-financial-results-301243978.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=TO04525&amp;Transmission_Id=202103091747PR_NEWS_USPR_____TO04525&amp;DateId=20210309\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire Appointment of permanent Chief Executive Officer Fourth quarter revenue of $10.92 million, a 91% increase quarter-over-quarter Canadian cannabis revenue of $8.55 million for the quarter, an increase of 122% over the prior quarter G&amp;A reduction of 59% compared to the same period in 2019 Full year revenue of $24.51 million, a 120% increase year-over-year TORONTO, March 9, 2021 \/PRNewswire\/ &#8211;\u00a0The Green Organic Dutchman Holdings Ltd. (the &#8220;Company&#8221; or &#8220;TGOD&#8221;) (TSX: TGOD) (US: TGODF), a leading producer of premium certified organically grown cannabis, reports its results for the fourth quarter and fiscal year ended December 31, 2020. These filings are available for review on the Company&#8217;s SEDAR profile at www.sedar.com. Appointment of Permanent CEO The Company announced that its &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/the-green-organic-dutchman-reports-fourth-quarter-and-year-end-2020-financial-results\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;The Green Organic Dutchman Reports Fourth Quarter and Year End 2020 Financial Results&#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-454313","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 Reports Fourth Quarter and Year End 2020 Financial Results - 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-reports-fourth-quarter-and-year-end-2020-financial-results\/\" \/>\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 Reports Fourth Quarter and Year End 2020 Financial Results - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire Appointment of permanent Chief Executive Officer Fourth quarter revenue of $10.92 million, a 91% increase quarter-over-quarter Canadian cannabis revenue of $8.55 million for the quarter, an increase of 122% over the prior quarter G&amp;A reduction of 59% compared to the same period in 2019 Full year revenue of $24.51 million, a 120% increase year-over-year TORONTO, March 9, 2021 \/PRNewswire\/ &#8211;\u00a0The Green Organic Dutchman Holdings Ltd. (the &#8220;Company&#8221; or &#8220;TGOD&#8221;) (TSX: TGOD) (US: TGODF), a leading producer of premium certified organically grown cannabis, reports its results for the fourth quarter and fiscal year ended December 31, 2020. These filings are available for review on the Company&#8217;s SEDAR profile at www.sedar.com. Appointment of Permanent CEO The Company announced that its &hellip; Continue reading &quot;The Green Organic Dutchman Reports Fourth Quarter and Year End 2020 Financial Results&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/the-green-organic-dutchman-reports-fourth-quarter-and-year-end-2020-financial-results\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-03-09T22:50:49+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/mma.prnewswire.com\/media\/1453172\/The_Green_Organic_Dutchman_Holdings_Ltd__The_Green_Organic_Dutch.jpg\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"11 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/the-green-organic-dutchman-reports-fourth-quarter-and-year-end-2020-financial-results\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/the-green-organic-dutchman-reports-fourth-quarter-and-year-end-2020-financial-results\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"The Green Organic Dutchman Reports Fourth Quarter and Year End 2020 Financial Results\",\"datePublished\":\"2021-03-09T22:50:49+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/the-green-organic-dutchman-reports-fourth-quarter-and-year-end-2020-financial-results\\\/\"},\"wordCount\":2159,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/the-green-organic-dutchman-reports-fourth-quarter-and-year-end-2020-financial-results\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/mma.prnewswire.com\\\/media\\\/1453172\\\/The_Green_Organic_Dutchman_Holdings_Ltd__The_Green_Organic_Dutch.jpg\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/the-green-organic-dutchman-reports-fourth-quarter-and-year-end-2020-financial-results\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/the-green-organic-dutchman-reports-fourth-quarter-and-year-end-2020-financial-results\\\/\",\"name\":\"The Green Organic Dutchman Reports Fourth Quarter and Year End 2020 Financial Results - 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(the &#8220;Company&#8221; or &#8220;TGOD&#8221;) (TSX: TGOD) (US: TGODF), a leading producer of premium certified organically grown cannabis, reports its results for the fourth quarter and fiscal year ended December 31, 2020. These filings are available for review on the Company&#8217;s SEDAR profile at www.sedar.com. 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