TGOD to Transition Medical Business to Wholesale Model, Working with National Partner Medical Cannabis by Shoppers to Unlock Growth Potential
The Green Organic Dutchman Holdings Ltd. (TGOD) announced on February 1, 2021, plans to transition its medical cannabis business to a wholesale model, enhancing access for patients by partnering with Medical Cannabis by Shoppers. This change will eliminate the need for patients to register with multiple licensed producers, ensuring consistent product availability. TGOD aims to support patient access while reallocating resources for growth opportunities. The transition is set to complete by April 1, 2021, with ongoing support for patients during the shift.
- Transitioning to a wholesale model may streamline operations and enhance patient access.
- Partnership with Medical Cannabis by Shoppers provides a national distribution network.
- Transitioning from a direct-to-patient model might create initial confusion among existing patients.
- Potential risks associated with changing business models could affect operational stability.
- Patient-centered approach which eliminates the need to register with multiple licensed producers to access a broad portfolio of medical cannabis products
- Leveraging Medical Cannabis by Shoppers' national reach and distribution capabilities
- Maintaining wholesale agreements with additional medical distributors and clinics
- Reallocating resources to support growth opportunities
TORONTO, Feb. 1, 2021 /PRNewswire/ - The Green Organic Dutchman Holdings Ltd. ("TGOD" or the "Company") (TSX: TGOD) (US: TGODF), a leading producer of premium certified organically grown cannabis, today unveiled plans to transition its medical business to a wholesale model, in line with other pharmaceutical products' distribution models. TGOD's patient-centered approach will enable easier access to a broad range of medical cannabis products without having to register with multiple licensed producers.
TGOD has a national supply agreement in place with Medical Cannabis by Shoppers ("Shoppers"), a subsidiary of Shoppers Drug Mart Inc., Canada's largest pharmacy network, and is Shoppers' largest supplier of certified organically grown medical cannabis. Every effort has been made to ensure that there is no supply disruption for patients and all TGOD products will be available via Shoppers' online store platform. TGOD also has agreements with 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.
"TGOD has its roots in the medical segment and remains committed to supporting easy access to cannabis treatments for Canadian patients. Shifting to a wholesale model not only makes sense from a business standpoint, allowing us to invest working capital in other growth opportunities, but it also gets us closer to our goal of eliminating the stigma that surrounds the plant within certain medical circles," commented Sean Bovingdon, TGOD's Chief Financial Officer and Interim Chief Executive Officer. "In our view, Medical Cannabis by Shoppers and other medical distributors will play an increasingly central role in supporting patients across the country, a trend we see accelerating in the years ahead as licensed producers focus on research and innovation."
The Company will support its patients throughout the transition period which is expected to be completed by April 1st, 2021. In collaboration with its partners, TGOD has developed a seamless transfer process and will continue to handle orders as usual until the end of the transition. An FAQ is available here, and patients can also contact TGOD's Customer Care at 1 (888) 603-TGOD (8463) or at care@tgod.ca.
About The Green Organic Dutchman Holdings Ltd.
The Green Organic Dutchman Holdings Ltd. (TSX: TGOD) (US–OTC: TGODF) is a premium certified organically grown cannabis company focused on the health and wellness market. Its organic cannabis is cultivated in living soil, as nature intended. 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. In Canada, TGOD sells dried flower and oil, and recently launched a series of next–generation cannabis products such as hash, vapes, organic teas and dissolvable powders. Through its European subsidiary, HemPoland, the Company also distributes premium hemp CBD oil and CBD-infused topicals in Europe. By leveraging science and technology, TGOD harnesses the power of nature from seed to sale.
TGOD's Common Shares and warrants issued under the indentures dated November 1, 2017, December 19, 2019, June 12, 2020, October 23, 2020 and December 10, 2020 trade on the TSX under the symbol "TGOD", "TGOD.WT", "TGOD.WS", "TGOD.WR","TGOD.WA" and "TGOD.WB", respectively, and TGODF trades in the US on the OTCQX. For more information on The Green Organic Dutchman Holdings Ltd., please visit www.tgod.ca.
Cautionary Statements
This news release includes statements containing certain "forward–looking information" within the meaning of applicable securities law ("forward–looking statements"). Forward looking statements in this release include, but are not limited to, statements about distribution agreements, statements about the growth of the medical market and statements about the future of medical cannabis treatments. Forward–looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "should", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" 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 (including market conditions) and other factors that could cause actual events or results to differ materially from those projected in the forward–looking statements, including those risk factors described in the Company's most recently filed Annual Information Form available on SEDAR. 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.
Neither the TSX nor the TSX's 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.
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SOURCE The Green Organic Dutchman Holdings Ltd.
FAQ
What is TGOD's new business model for medical cannabis?
When will TGOD complete its transition to the wholesale model?
How does TGOD ensure product availability during the transition?
What impact does TGOD's transition have on patients?
