The Green Organic Dutchman Announces Appointment of Louis Sterling as Independent Board Member

Rhea-AI Summary

The Green Organic Dutchman Holdings Ltd. (TGOD) has appointed Louis Sterling as an independent board member, effective immediately, subject to regulatory approval. Sterling, a private investor with significant experience in the health and wellness sectors, replaces Jeffrey Scott, who resigned to focus on other business interests. TGOD's Chair, Angus Footman, expressed confidence in Sterling's expertise to enhance the company’s growth strategy and increase market share in the U.S. Additionally, Sterling has been granted options to purchase up to 300,000 common shares at an exercise price of $0.11 each.

Positive

• Appointment of Louis Sterling expected to bring valuable perspectives to the board.
• Sterling's background in health and wellness industries may enhance TGOD's growth strategy.

Negative

• Resignation of Jeffrey Scott may raise concerns about continuity in leadership.

TORONTO, Dec. 21, 2021 /PRNewswire/ - The Green Organic Dutchman Holdings Ltd. (the "Company" or "TGOD") (CSE: TGOD) (US-OTC: TGODF), a trusted and sustainable global cannabis company is pleased to announce the appointment (the "Appointment") of Louis Sterling to the Board of Directors ("Board") effective today, subject to the receipt of any necessary regulatory approvals.

Since 2017, Mr. Sterling has been a private investor targeting small-cap public equities and select fast-growth private companies, particularly in the health, wellness, and cannabis industries. Prior to this, he was a managing director of BondFactor, a firm specializing in insuring municipal bonds.   A graduate from Harvard Law School, Mr. Sterling also holds an MBA from Harvard Business School, an undergraduate degree from Howard University, and has extensive experience in investment banking and private equity, having worked at Lincolnshire Management and Goldman, Sachs & Co. 

Mr. Sterling will be replacing Mr. Jeffrey Scott who is resigning from his position as Board Member effective immediately to focus on other business interests.

"On behalf of the entire TGOD organization, I'd like to welcome Louis to TGOD's Board.  He joins us at an exciting time as we continue to grow revenues and execute our plan to profitability. We are confident that Louis will provide valuable perspectives as we explore opportunities in the U.S. and increase our market share domestically," said Angus Footman, Chair of the Board. "I would also like to thank Jeff for his contribution to the Board since 2018 and wish him well in his future endeavours," added Mr. Footman.

In connection with the Appointment, the Company has granted Mr. Sterling options (each, an "Option") to purchase an aggregate of up to 300,000 common shares of the Company. Each Option is exercisable into one common share at an exercise price of $0.11 per common share. The Options are granted in accordance with the Company's share option plan adopted by the board of directors of the Company on May 12, 2021 (the "Option Plan"). The Option Plan is available under the Company's SEDAR profile at www.sedar.com.

About The Green Organic Dutchman Holdings Ltd.
The Green Organic Dutchman Holdings Ltd. (CSE: TGOD) (US–OTC: TGODF) is a sustainable cannabis company with a focus on innovation, quality, consistency, integrity and transparency. The Company is committed to cultivating a better tomorrow by producing its products responsibly, with less waste and impact on the environment. In Canada, the Company serves the recreational market with a brand portfolio including The Green Organic Dutchman, Highly Dutch Organics, Ripple by TGOD and Cruuzy, and the medical markets in Canada, South Africa, Australia, and Germany. All cannabis utilized in products for The Green Organic Dutchman and Highly Dutch Organics brands is grown through a certified organic process, which includes living soil, filtered rainwater, sunlight, and natural inputs.

The Company's Common Shares and certain warrants issued under the indentures dated December 19, 2019, June 12, 2020, October 23, 2020, and December 10, 2020, trade on the Canadian Securities Exchange ("CSE")  under the symbol "TGOD", "TGOD.WS", "TGOD.WR", "TGOD.WA", and "TGOD.WB" respectively. The Company's Common Shares trade in the U.S. on the OTCQX under the symbol "TGODF". 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 future revenue, statements about potential sales and market share, statements about the future profitability of the Company and statements regarding the future performance of the Company in any jurisdiction. 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 recent Annual Information Form filed with Canadian securities regulators and available on the Company's issuer profile on SEDAR at www.sedar.com. Although the Company believes that the assumptions and factors used in preparing the forward-looking information or forward-looking statements in this news release are reasonable, undue reliance should not be placed on such information and no assurance can be given that such events will occur in the disclosed time frames or at all. The forward-looking information and forward-looking statements included in this news release are made as of the date of this news release. 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 CSE nor the CSE's Regulation Services Provider (as that term is defined in the policies of CSE) accept responsibility for the adequacy or accuracy of this release.

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SOURCE The Green Organic Dutchman Holdings Ltd.

FAQ

Who is Louis Sterling in relation to TGOD?

Louis Sterling has been appointed as an independent board member of The Green Organic Dutchman Holdings Ltd.

Why did Jeffrey Scott resign from TGOD's Board?

Jeffrey Scott resigned to focus on other business interests.

What are the implications of Louis Sterling's appointment for TGOD?

Sterling's appointment is expected to enhance TGOD's growth strategy and market share in the U.S.

What options were granted to Louis Sterling?

Louis Sterling was granted options to purchase up to 300,000 common shares at an exercise price of $0.11 per share.

When was the appointment of Louis Sterling announced?

The appointment was announced on December 21, 2021.