The Green Organic Dutchman Enters US Market Through Cornerstone Investment in Califormulations LLC
TORONTO, May 8, 2019 /CNW/ - The Green Organic Dutchman Holdings Ltd. (the "Company" or "TGOD") (TSX:TGOD) (US:TGODF) is pleased to announce the Company's strategic investment into the US beverage space as a co-founding investor and strategic partner in the newly formed Califormulations LLC ("Califormulations"). Califormulations will operate out of Columbus, Georgia serving global branded companies with concept-to-shelf beverage commercialization support including formulation development, technical services, in-house pilot scale production and contract manufacturing co-ordination. TGOD will work with Califormulations to expedite the US launch of TGOD branded organic hemp-based CBD beverages, as local laws and regulations permit.
We are incredibly excited to partner with Califormulations to further our development of hemp-based CBD beverage products
said Brian Athaide, CEO of TGOD.
With the US market for functional beverages, including wellness, energy and sport recovery, currently worth over USD$20 billion, we want to remain on the cutting edge of innovation and establish the foundation for future proprietary and novel TGOD-branded products. TGOD strives to partner with established industry leaders, and we believe that this forward-looking strategic partnership positions TGOD to capitalize on the future cannabinoid beverage market
Califormulations is well positioned to immediately execute on a strategy to become the preeminent beverage formulation and commercialization centre in the United States. TGOD's co-founding investment in Califormulations is occurring alongside the expertise of Symrise Inc. ("Symrise"), including its Beverage Innovation Centers in Laguna Beachand Teterboro. Symrise, TGOD and founding management have provided a combination of equity and debt financing to capitalize Califormulations.
TGOD's investment in Califormulations illustrates TGOD's progressive corporate philosophy of investing in brand differentiating capabilities. As global laws and regulations permit, Califormulations will be an important enabler allowing TGOD to manage supply chains without excessive investment in bricks and mortar. This approach is consistent with TGOD's long-term objective to focus capital investments on building the world's leading organic cannabis brand. The Company intends to leverage the experience within Califormulations to expedite the US launch of TGOD-branded organic hemp-based CBD beverages, as laws and regulations permit. Initially, however, the focus will be on having bulk non-infused beverage concentrates produced and shipped by Califormulations to TGOD-owned and contracted manufacturing sites around the globe, including Canada, for infusion with cannabinoids and distribution within legal markets.
Califormulations is a key component to TGOD's existing global organic cannabinoid-infused beverage strategy. TGOD's beverage team will have access to and use of Califormulations' R&D facilities to collaborate on hemp-derived CBD beverage developments, while maintaining and enhancing TGOD's intellectual property portfolio. TGOD will enjoy certain exclusivities pertaining to the development of organic cannabinoid-infused beverages through the Califormulations platform.
Collectively, the complementary capabilities of this ecosystem give Califormulations a unique position in the beverage/consumer packaged goods market that will foster innovation and scale new, successful brands quickly
commented Paul Graham, President of Symrise Flavors North America.
On Behalf of the Board of Directors,
The Green Organic Dutchman Holdings Ltd.
The Green Organic Dutchman Holdings Ltd. (TSX: TGOD) (US: TGODF) is a publicly traded, premium global organic cannabis company, with operations focused on medical cannabis markets in Canada, Europe, the Caribbean and Latin America, as well as the Canadian adult-use market. TGOD also has organic hemp CBD oil operations in Canada, and through its wholly owned subsidiary HemPoland distributes premium hemp CBD oil in the EU. The Company grows high quality, organic cannabis with sustainable, all-natural principles. TGOD's products are laboratory tested to ensure patients have access to a standardized, safe and consistent product. TGOD has a planned capacity of 219,000 kgs and is building 1,643,600 sq. ft. of cultivation and processing facilities across Ontario, Quebec, Jamaica and Denmark.
TGOD's Common Shares and warrants issued under the indenture dated November 1, 2017 trade on the TSX under the symbol "TGOD" and "TGOD.WT", respectively.
For more information on The Green Organic Dutchman Holdings Ltd., please visit www.tgod.ca.
Symrise is a global supplier of fragrances, flavorings, cosmetic active ingredients and raw materials, as well as functional ingredients. Its clients include manufacturers of perfumes, cosmetics, food and beverages, the pharmaceutical industry and producers of nutritional supplements and pet food.
Its sales of approximately € 3.2 billion in the 2018 fiscal year make Symrise a leading global provider. Headquartered in Holzminden, Germany, the Group is represented with over 100 sites in Europe, Africa, the Middle East, Asia, the United States and Latin America.
Symrise works with its clients to develop new ideas and market-ready concepts for products that form an indispensable part of everyday life. Economic success and corporate responsibility are inextricably linked as part of this process. Symrise – always inspiring more …
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 the development of Califormulations' business, the development of future TGOD-branded products including organic hemp-based CBD-based beverages, the development and distribution of cannabinoid infused beverages in Canada and elsewhere, the development of TGOD's organic cannabis brands, statements about future facility construction, statements about the achievement of certain certifications in connection with its facilities, collaboration between TGOD's beverage team and Califormulations, 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", "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.
SOURCE The Green Organic Dutchman Holdings Ltd.