- The Green Organic Dutchman Announces Exclusive License for CBx Enterprises’ Cannabinoid Technologies
TORONTO, May 22, 2018 (GLOBE NEWSWIRE) -- The Green Organic Dutchman Holdings Ltd. (the “Company” or “TGOD”) (TSX:TGOD) is pleased to announce that the Company has entered into an exclusive agreement with CBx Enterprises LLC for the licensing of the Evolab and CBx Sciences brands and proprietary technologies and formulations within Canada and other international jurisdictions outside of the USA.
Based in Colorado, the CBx team brings decades of experience developing and marketing a diverse array of unique, first-to-market medical and recreational cannabis products. The licensing arrangement will immediately expand TGOD’s product and technology portfolio, and position the Company for the successful development of new products as Canadian and global product requirements and standards rapidly evolve.
Evolab is a top cannabinoid vaporization brand that has gained significant market share through the creation of highly differentiated products in a very competitive and saturated market. Evolab’s proprietary technologies and industry-leading extraction efficiencies allow for the derivation of pharmaceutical-grade cannabinoid oils and strain-specific terpenes without the use of any harmful solvents or cutting-agents. These technologies and formulations lead to the creation of much cleaner and safer full-plant oils for vaporization without the introduction of chemicals commonly found in the e-vape industry.
CBx Sciences has an industry-leading team working tirelessly on the research and development of both new and novel cannabinoids as well as authentic premium quality consumer products. With a focus on identifying synergistic and complimentary botanical ingredients to activate and engage the endocannabinoid system, the research behind each advanced CBx formulation is unmatched in the industry. This focus on research as well as a deep understanding of the commercialization of cannabinoid-based products will allow for the development of product formulations that are tailored to each individual jurisdiction’s regulatory requirements for both non-psychoactive and psychoactive cannabinoids.
“TGOD is building an unrivaled global infrastructure for the development and distribution of cutting edge cannabinoid products,”
said Nicole Smith, CEO, CBx Enterprises.
“With their distinguished leadership team and recent successful execution of the largest cannabis IPO in history, there is no partner better positioned to rapidly extend the reach of our proven products and technology.”
“This licensing partnership for industry leading technologies and formulations will further allow TGOD to execute on its plans of offering novel and safer delivery methods of both non-psychoactive and psychoactive cannabinoids to patients and consumers around the globe,”
said Rob Anderson, Co-Chairman and CEO of TGOD.
“The team at CBx has vast experience in researching and commercializing new and novel consumer products and cannabinoids, and we are excited to be able to offer a platform to take their cutting-edge technologies and advanced formulations worldwide using TGOD’s premium organic ingredients under TGOD’s own brand names.”
On Behalf of the Board of Directors,
The Green Organic Dutchman Holdings Ltd.
Chief Executive Officer and Co-Chairman
ABOUT THE GREEN ORGANIC DUTCHMAN HOLDINGS LTD.
The Green Organic Dutchman Holdings Ltd. is a research & development company licensed under the Access to Cannabis for Medical Purposes Regulations (“ACMPR”) to cultivate medical cannabis. The Company carries out its principal activities producing cannabis from its facilities in Ancaster, Ont., pursuant to the provisions of the ACMPR and the Controlled Drugs and Substances Act (Canada) and its regulations.
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 funded capacity of 116,000 kg and is building 970,000 sq. ft. of cultivation facilities in Ontario and Quebec.
The Company has developed a strategic partnership with Aurora Cannabis Inc. (TSX:ACB) whereby Aurora has invested approximately C$78.1 million for an approximate 17.5% stake in TGOD. In addition, the Company has raised approximately C$290 million dollars and has over 5,000 shareholders.
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.
ABOUT CBx ENTERPRISES
CBx Enterprises is dedicated to advancing the global cannabis industry by creating effective products, formulations and technology platforms for sports medicine, health, beauty and nutraceutical markets. The company holds distribution, licensing and intellectual property agreements with leading cannabis and healthcare brands including CBx Sciences and Evolab, the best-selling vape line in Colorado. Learn more at CBxEnterprises.com
Phone: 1 (416) 900-7621
No securities regulatory authority has either approved or disapproved of the contents of this news release. The securities of TGOD have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws. Accordingly, the securities of TGOD may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws. This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities of TGOD in any jurisdiction in which such offer, solicitation or sale would be unlawful.
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 future legalization of recreational cannabis and cannabis-infused products in Canada, statements about the offering of any particular products by the Company 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.