The Green Organic Dutchman Holdings (TSX: TGOD) (OTCQX: TGODF), a cannabis-focused research and development company, this morning announced that it has entered into a definitive agreement with Queen Genetics/Knud Jepsen A/S (“Knud Jepsen”) to establish two 50/50 joint ventures (“JVs”). The first JV is designed for producing commercial cannabis and cannabis oils, and the second is intended to develop and patent advanced, commercially valuable elite cannabis genetics. The companies will establish both JVs in Denmark, and plan to expand the production JV into future low-cost European jurisdictions. Per the agreement, the companies will launch a premium organic European bulk cannabinoid production platform where TGODF will hold the exclusive right to all cannabis associated production from the JV, through a guaranteed offtake agreement at a prearranged price comparative to the production cost of the JV. The production JV will hold exclusive access to all intellectual property developed within the genetics JV. TGODF will utilize its unique approach to organic cannabinoid production and leverage Knud Jepsen’s horticulture experience and R&D division to fast-track commercial operations in Denmark and throughout Europe. Based in Hinnerup, Denmark, the first phase of the JV will involve of a 2,500 kg pilot program with 25,000 kgs of production in Denmark before expanding to other lower cost production jurisdictions through Europe.
“This JV is incredibly important to furthering TGOD’s presence in Europe,” TGODF Director and CEO Brian Athaide stated in the news release. “Knud Jepsen is a remarkable partner, having over 80 years of experience in R&D and cultivating plants in millions of square feet. As we roll out multiple phases of our JV and plan to increase the partnership to multiple countries across Europe, leveraging Knud Jepsen’s expertise as operators, and our expertise in cannabis will be critical to TGOD’s expansion throughout the continent. The partnership will allow TGOD to focus on building global sales and distribution channels, developing proprietary and patentable IP, and furthering brand equity.”
To view the full press release, visit http://cnw.fm/w6HSI
About The Green Organic Dutchman Holdings Ltd.
The Green Organic Dutchman Holdings Ltd. is a publicly traded, premium global organic cannabis company, with operations focused on medical cannabis markets in Canada, Europe, the Caribbean and Latin America, as well as the Canadian adult-use market. 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 170,000kgs and is building 1,382,000 sq. ft. of cultivation facilities across Ontario, Quebec and Jamaica. For more information, visit the company’s website at www.TGOD.ca.
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