NetworkNewsBreaks – The Green Organic Dutchman H
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Posted On: 05/13/2021 4:10:16 PM
NetworkNewsBreaks – The Green Organic Dutchman Holdings Ltd. (TSX: TGOD) (OTCQX: TGODF) Releases Q1 2021 Financial Report, Corporate Updates
The Green Organic Dutchman (TSX: TGOD) (OTCQX: TGODF), a leading producer of premium certified organically grown cannabis, announced its unaudited interim financial numbers for the quarter ended March 31, 2021, as well as key corporate updates. Financial highlights included revenue Q1 revenue of $8.98 million, an increase of 194% from Q1 2020 numbers; gross profit for the quarter reach $3.13 million, an increase of 83% over the same period during the previous year; and net income totaled $12.46 million. In addition, the company provided status reports on various business operations, including the company’s planned entry into the U.S. market, the sale of its Quebec facility and other key strategic initiatives designed to maximize shareholder value, which include the potential sale or spin-off for an IPO of HemPoland, TGOD’s wholly owned subsidiary, and the potential for mergers and acquisitions in the Canadian cannabis LP sector. In conjunction with the release of its financial numbers, TGOD announced an investor conference call and webcast to discuss the Q1 2021 report. The event is scheduled for May 13, 2021, at 10 a.m. ET. Anyone desiring to participate may dial 416-764-8688 in Toronto or 1-888-390-0546 in North America and use the conference ID 19888977. “This quarter’s improving financials demonstrate how we are strengthening TGOD’s foundations by executing our turnaround plan,” said TGOD CEO and interim CFO Sean Bovingdon in the press release. “From monetizing underutilized assets to streamlining our organizational structure and strengthening our balance sheet, our new leadership team is making great strides towards completing the transformation of TGOD into a profitable and agile organic cannabis producer that stands to benefit from accelerated growth in Canada and abroad with opportunities in Germany, Mexico, Australia and the United States. The achievement of net income reflects the positive outlook for our cash flows in relation to our right-sized operations. We look forward to the potential lifting of COVID restrictions as vaccinations increase, which will allow for better access for consumers to our organically grown quality products, that are now consistently achieving THC levels greater than 20%.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
The Green Organic Dutchman (TSX: TGOD) (OTCQX: TGODF), a leading producer of premium certified organically grown cannabis, announced its unaudited interim financial numbers for the quarter ended March 31, 2021, as well as key corporate updates. Financial highlights included revenue Q1 revenue of $8.98 million, an increase of 194% from Q1 2020 numbers; gross profit for the quarter reach $3.13 million, an increase of 83% over the same period during the previous year; and net income totaled $12.46 million. In addition, the company provided status reports on various business operations, including the company’s planned entry into the U.S. market, the sale of its Quebec facility and other key strategic initiatives designed to maximize shareholder value, which include the potential sale or spin-off for an IPO of HemPoland, TGOD’s wholly owned subsidiary, and the potential for mergers and acquisitions in the Canadian cannabis LP sector. In conjunction with the release of its financial numbers, TGOD announced an investor conference call and webcast to discuss the Q1 2021 report. The event is scheduled for May 13, 2021, at 10 a.m. ET. Anyone desiring to participate may dial 416-764-8688 in Toronto or 1-888-390-0546 in North America and use the conference ID 19888977. “This quarter’s improving financials demonstrate how we are strengthening TGOD’s foundations by executing our turnaround plan,” said TGOD CEO and interim CFO Sean Bovingdon in the press release. “From monetizing underutilized assets to streamlining our organizational structure and strengthening our balance sheet, our new leadership team is making great strides towards completing the transformation of TGOD into a profitable and agile organic cannabis producer that stands to benefit from accelerated growth in Canada and abroad with opportunities in Germany, Mexico, Australia and the United States. The achievement of net income reflects the positive outlook for our cash flows in relation to our right-sized operations. We look forward to the potential lifting of COVID restrictions as vaccinations increase, which will allow for better access for consumers to our organically grown quality products, that are now consistently achieving THC levels greater than 20%.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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