Proactive Investors - Run By Investors For Investors

The Green Organic Dutchman launches Global Strategic Hemp Division to exploit booming global CBD market

TGOD's European subsidiary HemPoland will play a crucial role as the new global division expands into emerging hemp CBD markets
CBD
The global CBD market is expected to hit $22 billion within three years

The Green Organic Dutchman Holdings Ltd (TSX:TGOD) (OTCMKTS:TGODF) announced Thursday the launch of its Global Strategic Hemp Division to exploit the booming global CBD market.

The Canadian cannabis company said the new division will leverage the company’s expertise in the European hemp CBD market to fuel growth and accelerate the development and commercialization of new products across its network of international partners.

"With the global CBD market expected to hit $22 billion in less than 3 years, it is clear that the segment is drawing substantial consumer demand," said CEO Brian Athaide. "Our team has years of direct hands-on experience in the CBD space and we are excited to use this advantage to execute on a fast-moving market expansion strategy.” 

He added: “CBD is a wellness product and has a natural fit with TGOD's certified organic positioning and the large segment of consumers who are increasingly demanding natural and organic products. The time to act is now, and TGOD has the team, the infrastructure and the capital to establish a significant presence in this market."

Shares were up 2.5% at C$3.35 in Toronto, and added 2.3% at US$2.54 in New York.

READ: The Green Organic Dutchman inks pact with Neptune to make organic wellness products

The Green Organic Dutchman said its European subsidiary HemPoland, which it acquired in 2018, will play a crucial role as its Global Strategic Hemp Division expands into emerging hemp CBD markets.

HemPoland saw its first-quarter revenue grow by nearly 30% quarter-over-quarter as demand for high-quality hemp CBD products in Europe gains momentum, TGOD said. HemPoland has years of experience in cultivating processing, researching as well as the commercial extraction of EU-registered hemp varieties, which are very similar to those currently allowed for cultivation in Canada.

TGOD said HemPoland has already signed a distribution agreement with Mediakos, a leading German pharmaceutical distributor and has had in-depth discussions with co-packers and additional distributors to continue expanding its footprint across Europe.

In other company news, the Toronto-based company said it grew a small test crop of hemp last year, and has successfully renewed the Health Canada licence for the cultivation of a larger crop in 2019 on 158 acres of organic farmland in Southern Ontario. Planting activities are underway and the first harvest is expected within 12 weeks.

Contact the author: [email protected]

Follow him on Twitter @PatrickMGraham

Join Proactive’s Crypto, Blockchain and Cannabis Telegram group here
View full TGOD profile View Profile

The Green Organic Dutchman Holdings Ltd Timeline

Related Articles

cannabis on dollar bills
June 09 2019
Australis invests in the highly fragmented, rapidly evolving US cannabis space, with a focus on building companies through early-stage, diversified and opportunistic investments
A WeedMD greenhouse
January 22 2019
WeedMD produces cannabis and cannabis oil for both the medical and adult-use markets
1542134062_Harvesting-hemp.jpg
November 14 2018
Ascent, viaThirty Eight Hemp Corp, will exploit the hemp market via its strategic relationship with AgTech Scientific

© Proactive Investors 2019

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use