tgodf - TGODF STOCK NEWS

The Green Organic Dutchman Holdings Ltd. (TGOD or Company) announced it will release its Q1 2022 financial results post-market on May 25, 2022. Following this, a conference call with analysts will occur on May 26, 2022, at 10:00 a.m. ET, featuring CEO Sean Bovingdon, CFO Nichola Thompson, and VP Investor Relations Shane Dungey. Participants can join via local and toll-free numbers provided. A replay will be available until June 2, 2022. The Company focuses on sustainable cannabis production with organic processes.

The Green Organic Dutchman (TGOD) announced a successful closure of an asset sale agreement, selling leasehold improvements at its Puslinch facility for $3 million. Of this amount, $2 million will be received in cash, while $1 million will settle existing loans from the landlord, including interest and transaction costs. This transaction secures additional working capital for growth while resulting in an increased rent of $25,000 per month for the remaining lease term of approximately 19 years. CEO Sean Bovingdon expressed optimism about TGOD's growth prospects.

The Green Organic Dutchman Holdings Ltd. (TGODF) has successfully amended its credit agreement, raising the total facility limit from $30 million to $34 million. This amendment eliminates certain mandatory prepayments and provides additional working capital to support continued revenue growth. Notably, the term portion of the facility increases by $4 million, enhancing the company's ability to explore cultivation expansions in British Columbia and Quebec. The amendments are effective June 30, 2022, with the maturity date remaining June 30, 2023.

The Green Organic Dutchman (TGOD) announced the launch of the Highly Dutch Organic 420 hotline on April 20, 2022, offering a free educational resource for cannabis consumers. Available from 9am-9pm EST, the hotline will be staffed by industry experts, including budtenders and growers, to provide answers to consumer inquiries. A recent survey indicates that 42% of Canadians have consumed cannabis in the past year and that 20% would be more likely to consume if educational resources were available. The initiative aims to enhance cannabis education during the culturally significant 420 celebrations.

The Green Organic Dutchman (TGOD) has granted options to purchase up to 29,552,000 common shares at $0.13 each to directors, officers, employees, and consultants. Of these, 19,950,000 options were allocated to directors and executives. The options vest over three years and expire in five years. Additionally, restricted share units (RSUs) representing the right to receive 350,000 common shares were awarded to a consultant, contingent upon specific vesting conditions. This move is part of TGOD's efforts to ensure alignment between shareholder interests and management incentives.

The Green Organic Dutchman (TGOD) reported significant growth in its financial results for FY 2021. Gross revenue reached $39.19 million, a 149% increase from 2020, while Q4 revenue rose to $12.37 million, a 27% quarter-over-quarter growth. The company improved its gross margin to 32% in Q4. Net revenue also grew to $9.47 million, marking a 30% increase from the previous quarter. The firm successfully reduced G&A expenses by 28% and completed the strategic acquisition of Galaxie Brands Corporation. TGOD expects to achieve positive Adjusted EBITDA by Q2 2022.

The Green Organic Dutchman Holdings Ltd. (TGOD, TGODF) announced it will release its Q4 and Year-End 2021 financial results on April 5, 2022, after market close. Following this, a conference call will be held on April 6, 2022, at 10:00 a.m. ET, featuring executives Sean Bovingdon, Nichola Thompson, and Shane Dungey. Participants can access the audiocast online, with a replay available until April 13, 2022. The company emphasizes its commitment to sustainability in the cannabis sector, providing organic products in multiple markets.

The Green Organic Dutchman Holdings Ltd. (TGODF) has announced an increase in its revolving credit facility from $25 million to $30 million. This amendment allows certain eligible inventory to be used as collateral and provides additional working capital aimed at supporting ongoing revenue growth. The company issued 500,000 common shares at $0.10 per share as part of the amendments. CEO Sean Bovingdon regards this support as a positive step towards achieving long-term success and moving towards positive EBITDA.

The Green Organic Dutchman (TGOD) has appointed Nichola Thompson as Chief Financial Officer, effective February 1, 2022. Thompson, a finance veteran with over 20 years of experience, previously served as CFO at Galaxie Brands and has held senior positions in the cannabis industry. Her extensive background includes guiding financial strategies during periods of growth. CEO Sean Bovingdon expressed confidence in her ability to support TGOD's progression toward profitability. The company is dedicated to sustainable cannabis production.