Green Organic Dutchman's Cannabis First To Be Distributed In South African Medical Marijuana Market

Cannabis producer The Green Organic Dutchman Holdings Ltd. TGOD TGODF revealed Wednesday it has finalized its first international commercial shipment consisting of cannabis flower and other extracts destined for the highly anticipated South African medical cannabis market.

TGOD's cannabis flower will be the first to be distributed legally in the country at a commercial scale.

Its products received the approval of the South African Health Products Regulatory Authority (SAHPRA). This illustrates the value of TGOD's organic portfolio and bolsters its position in securing international market access.  TGOD continues to see demand and opportunities for superior quality, high potency and consistent products, which the CleanCraft™ processes enable TGOD to deliver.

"This is an important milestone in our strategy to export our certified organically grown medical cannabis products to international markets,” said Sean Bovingdon, TGOD's CEO and interim CFO. “We are confident that our in-country partner will continue to develop this nascent market and that TGOD's portfolio of products will be well received by patients that have previously lacked access to legal, high-quality medical cannabis. We are pleased to be able to complete our first shipment mid-Q3 2021, in line with our corporate objectives. “

Recent Milestones

The Toronto-based company recently announced its unaudited interim financial results for the second quarter of fiscal 2021, with consolidated revenues of $11.82 million, compared to $8.98 million in the prior period. Net loss amounted to $32.48 million, which includes the $17.69 million loss on the assets held for sale of its Valleyfield, Quebec-based facility recently sold to Cannara Biotech Inc. LOVE.

Price Action

TGOD’s shares closed Tuesday market session 8.05% higher at 23 cents per share.

Photo: Courtesy of The Green Organic Dutchman

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Posted In: CannabisNewsPenny StocksMarketsSean BovingdonThe Green Organic Dutchman Holdings International ShipmentThe Green Organic Dutchman Holdings South African Medical cannabis market
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