With the ongoing revolution in the cannabis industry, the next generation of a cannabis business must continue investing in certification standards and premium products. In addition, those focused on the health and wellness market, including The Green Organic Dutchman Holdings Ltd. (OTCMKTS: TGODF), must review its strategic initiatives to maximize the legalization of cannabis for medical or adult use in several states.
The company has indeed leveraged various potential international opportunities; Mexico, South Africa, Australia, and Germany, to name a few. Its Q2 2021 financial results explain it all. The leading producer of premium certified organically grown cannabis earned $11.82 million in revenue in Q2-2021, more than the $8.98 million in Q1-2021, translating to a quarter-over-quarter increase of 32%.
Meanwhile, the easing of COVID-19 lockdown restrictions increased the traction for Highly Dutch Amsterdam Sativa, resulting in a 55% quarter-over-quarter increase in Canadian sales.
“…as the organization remained focused on executing our turnaround plan and fulfilling the TGOD Promise. Our premium flower SKUs performed strongly and our mainstream portfolio under the Highly Dutch brand also contributed to the quarter’s sales growth…,” TGOD’s CEO, Sean Bovingdon, commented.
The Closure of the Sale of TGODose with’s Quebec Facility
The company’s strategic asset monetization initiatives, such as our Quebec Facility sale in Valleyfield, were a primary transformation. The $27 million sales of the facility to Cannara Biotech (OPS) Inc enabled the company to eliminate its senior term debt of over $30 million, resulting in a more manageable debt load.
The facility is approximately 80,000 square feet of cultivation and processing space. TGOD will continue holding onto a significant portion of its operations. The company is one of the Canadian licensed producers with admittance to the Mexican market. It is making good progress in Australia, thanks to its in-country partner for medical cannabis, LeafCann, and its confidence in accessing exportation markets in the next few months.
On the other hand, its European subsidiary, HemPoland, will come in handy in distributing premium hemp CBD oil and CBD-infused topicals in Europe.
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