The Green Organic Dutchman Holdings is looking for a new source of funding to complete construction at its Ancaster, Ontario facility. The company had planned on using a traditional commercial bank facility but said that as market conditions have changed, the terms were no longer acceptable.
“We are doing something no other producer has done before, growing premium certified organic cannabis at scale. By leveraging our proprietary growing methods, purpose-built facilities and industry-leading horticultural team, we are creating a wide economic moat within the premium organic segment,” commented Brian Athaide, CEO of TGOD. “We are extremely proud to showcase the hard work that went into designing and building these state-of-the-art facilities as well as our cannabis 2.0 portfolio.”
The company said that construction at Ancaster is largely complete with all grow rooms licensed by Health Canada and approximately 6 weeks left before substantial completion of the processing facility. In a statement, the company said, “The evidence package for this final component is expected to be submitted to Health Canada by the end of November for licensing. The company will prioritize any financing secured to accelerate commercial production in order to ramp-up revenues. TGOD already has supply agreements in place with Alberta, British Columbia and Ontario, and plans to distribute nationally as production increases in 2020. Portfolio development is underway for Cannabis 2.0 with first phase of product launches scheduled for December 2019, including organic teas and infusers.”
Read more at greenmarketreport.com