NetworkNewsBreaks – The Green Organic Dutchman Holdings Ltd. (TSX: TGOD) (OTCQX: TGODF) Adapts Operations, Aggressively Reduces Costs While Expanding Product Portfolio
The Green Organic Dutchman Holdings (TSX: TGOD) (OTCQX: TGODF), a leading producer of premium, certified-organic cannabis, on Wednesday announced that, due to market conditions, it is adapting operations and aggressively reducing costs. According to the update, the company has postponed the startup of its Valleyfield facility in order to centralize cultivation operations at Ancaster. The Ontario facility is able to produce larger volumes than initially anticipated, enabling the company to delay Valleyfield cultivation operations while saving costs and capital. “Multiple factors, most particularly the COVID-19 pandemic, are contributing to an environment in which we must be extremely prudent with how we manage our cost structure. These are unprecedented times, and the situation continues to evolve. With the support and unity, I have seen from our employees, partners and stakeholders, I am very confident that TGOD can tackle this challenge and come out much stronger,” TGOD CEO Brian Athaide said in the news release. “We have seen very strong consumer and medical patient feedback from our recent TGOD Infusers launch and are looking forward to having them available in more stores quickly. These along with our upcoming additional 2.0 products are very unique and deliver superior consumer experiences which will help further differentiate and build our TGOD organic brand positioning.”
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The Green Organic Dutchman Holdings (TSX: TGOD) (OTCQX: TGODF), a leading producer of premium, certified-organic cannabis, on Wednesday announced that, due to market conditions, it is adapting operations and aggressively reducing costs. According to the update, the company has postponed the startup of its Valleyfield facility in order to centralize cultivation operations at Ancaster. The Ontario facility is able to produce larger volumes than initially anticipated, enabling the company to delay Valleyfield cultivation operations while saving costs and capital. “Multiple factors, most particularly the COVID-19 pandemic, are contributing to an environment in which we must be extremely prudent with how we manage our cost structure. These are unprecedented times, and the situation continues to evolve. With the support and unity, I have seen from our employees, partners and stakeholders, I am very confident that TGOD can tackle this challenge and come out much stronger,” TGOD CEO Brian Athaide said in the news release. “We have seen very strong consumer and medical patient feedback from our recent TGOD Infusers launch and are looking forward to having them available in more stores quickly. These along with our upcoming additional 2.0 products are very unique and deliver superior consumer experiences which will help further differentiate and build our TGOD organic brand positioning.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
