The Green Organic Dutchman (TSX: TGOD) (OTC: TGODF) has released its Q3 2020 financial results. In addition, the company announced a leadership change and provided business highlights for the third quarter ending September 30, 2020. TGOD saw total revenues for Q3 2020 total $5.7 million, which represents a 119% increase over the same quarter last year. Of that, $3.84 million was categorized as Canadian cannabis revenue, and increase of 41% quarter over quarter. In addition, loss from operations and G&A expenses were both down significantly. The company also announced two leadership changes: chief financial officer Sean Bovingdon will be serving as interim CEO, and Michel Gagné will be taking over COO responsibilities. “During the third quarter, despite certain production challenges that have now been addressed, we continued to deliver growth following the launch of our mainstream brand, Highly Dutch, in Quebec as well as teas and RIPPLE dissolvable powders,” said Bovington in the press release. “Our focus will continue to be on improving the execution of our existing production while developing innovative and distinctive products to introduce into more stores across the country. We saw encouraging numbers in October as we sold more flower, additional RIPPLE and tea variants, and launched hash in Quebec. We are looking to build on this growth while focusing on financial discipline throughout the company.”
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About The Green Organic Dutchman Holdings Ltd.
The Green Organic Dutchman is a premium certified organically grown cannabis company focused on the health and wellness market. Its organic cannabis is cultivated in living soil, as nature intended. The Company is committed to cultivating a better tomorrow by producing its products responsibly, with less waste and impact on the environment. Its two Canadian facilities have been built to LEED certification standards and its products are sold in recyclable packaging. In Canada, TGOD sells dried flower and oil, and recently launched a series of next–generation cannabis products such as hash, vapes, organic teas and dissolvable powders. Through its European subsidiary, HemPoland, the company also distributes premium-hemp CBD oil and CBD-infused topicals in Europe. By leveraging science and technology, TGOD harnesses the power of nature from seed to sale. For more information about the company, please visit www.TGOD.ca.
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