The Green Organic Dutchman Announces Preliminary Unaudited Second Quarter 2021 Revenue, Appoints Chief Growth Officer

Rhea-AI Summary

The Green Organic Dutchman Holdings Ltd. (TGODF) announced preliminary unaudited gross revenue of $11.7 million for Q2 2021, marking a 30% increase from Q1 2021 and 143% growth year-over-year. The Canadian sales contributed $10.3 million, a growth of 55% compared to the previous quarter. To bolster growth, Gayle Duncan has been appointed as the Chief Growth Officer, focusing on enhancing sales and marketing in North America. The company will release consolidated interim financial results on August 11, 2021.

Positive

• Achieved preliminary gross revenue of $11.7 million, a 30% quarter-over-quarter increase.
• 143% increase in revenue compared to Q2 2020.
• Canadian sales up by 55%, totaling $10.3 million in Q2 2021.
• Appointment of Gayle Duncan as Chief Growth Officer expected to enhance sales and marketing efforts.

Negative

• None.

• Achieved $11.7 million preliminary unaudited gross revenue in Q2 2021
• Increase in quarter over quarter revenue of 30%, Canadian sales increasing by 55%
• CGO to focus on enhancing existing sales and marketing capabilities, and helping accelerate growth and branding across North America

TORONTO, July 15, 2021 /PRNewswire/ - The Green Organic Dutchman Holdings Ltd. (the "Company" or "TGOD") (TSX: TGOD) (US-OTC: TGODF), a leading producer of premium certified organically grown cannabis in Canada, today announced preliminary unaudited revenue for the second quarter of 2021, reflecting growth of 30% over the prior quarter, and an increase of 143% compared to the same period in 2020.  To further accelerate this growth, the Company is pleased to announce that Gayle Duncan has joined the Company's Senior Leadership Team as Chief Growth Officer ("CGO"), a newly created position aimed at enhancing existing sales and marketing capabilities and increasing brand awareness across North America. 

Preliminary and unaudited consolidated gross revenue for the second quarter 2021 is expected to be approximately $11.7 million. This reflects the significant progress and growth achieved in Canadian operations and sales, which accounted for $10.3 million of the second quarter 2021 gross revenue total, an increase of 55% over Canadian sales in Q1-2021.

"The relaunch of our premium flower with the implementation of CleanCraft is being well received by the market. Combined with the national rollout of Organic Sugar Bush and the reopening of retail stores in key markets, it has contributed to a strong second quarter," said Sean Bovingdon, CEO and Interim CFO of TGOD. "With the addition of Gayle, a seasoned marketer and proven sales growth enabler, I have even greater confidence in our ability to continue to deliver against our objectives."

Ms. Duncan most recently provided consultative marketing services through her private practice to companies like Hydro One Telecom and Tim Horton's, where she oversaw the Tim Card portfolio across North America and led the launch of the CIBC Tim Horton's Double Double Visa Card. Prior to that, in her 30 year career launching, building and managing businesses, brands and teams, she held executive positions at agencies like Consumer Impact Marketing and Maritz Loyalty Marketing, and consulted with consumer brands such as IMAX, Bell Canada, and Green Gruff, a brand of CBD infused pet products sold in the United States.

The Company expects to release its consolidated interim financial results after market close on August 11, 2021.

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 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 December 19, 2019, June 12, 2020, October 23, 2020 and December 10, 2020 trade on the TSX under the symbol "TGOD", "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.

Forward-Looking Information Cautionary Statement

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 includes, but is not limited to, statements about revenue, statements about production timing, statements about future growth, statements about the offering of any particular products by the Company in any jurisdiction and statements regarding the future performance of the Company. Forward-looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "preliminary", "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 and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. 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 TSX nor its 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 the preliminary revenue reported by The Green Organic Dutchman for Q2 2021?

The Green Organic Dutchman reported a preliminary unaudited gross revenue of $11.7 million for Q2 2021.

How much did Canadian sales increase in Q2 2021 for TGOD?

Canadian sales increased by 55% in Q2 2021, totaling $10.3 million.

Who has been appointed as the Chief Growth Officer for TGOD?

Gayle Duncan has been appointed as the Chief Growth Officer of The Green Organic Dutchman.

When will TGOD release its consolidated interim financial results?

The Green Organic Dutchman is scheduled to release its consolidated interim financial results on August 11, 2021.