"On behalf of the board of directors, we thank Brian Athaide for his contribution to TGOD and I am pleased that Sean has agreed to lead the Company at this critical juncture," commented Jeff Scott, Chairman of the board. Learn about our international brands that share a passion for organic cannabis. See Michel Gagne's compensation, career history, education, & memberships. The Green Organic Dutchman Holdings Ltd. (TSX: TGOD) (US–OTC: TGODF) 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. These filings are available for review on the Company's SEDAR profile at www.sedar.com. The MarketWatch News Department was not involved in the creation of this content. Date: November 11, 2020 | Time: 9:00 a.m. Eastern TimeParticipant Dial-InLocal – Toronto: 1-416-764-8688Toll Free – North America: 1-888-390-0546Conference ID – 68691087. The board of directors decided that a change in leadership was necessary to drive the Company forward as it enters its next phase of growth and continues to work towards achieving positive EBITDA and cash flow as rapidly as possible. A higher standard of organic growing means no synthetic chemicals or pesticides. The Green Organic Dutchman Holdings Ltd. (TSX: TGOD) (US‐OTC: TGODF) is a premium certified organically grown cannabis company focused on the health and wellness market. Learn More, ${ cart.gramsTotal }g of ${ cart.gramsAllowed }g max. TGOD saw total revenues for Q3 2020 total $5.7 million, which represents a 119% increase over the same quarter last … 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. The Company continues to monitor and adapt to changing market conditions including but not limited to the ongoing impact of the COVID-19 pandemic and has implemented precautionary protocols which have enabled all operations to continue uninterrupted. The Company continues to monitor and adapt to changing market conditions including but not limited to the ongoing impact of the COVID-19 pandemic and has implemented precautionary protocols which have enabled all operations to continue uninterrupted. ... TGOD's Common Shares … About The Green Organic Dutchman Holdings Ltd. In addition, Vice President of Operations Michel Gagné will assume the role of chief operating officer. The Company announced that Brian Athaide has left his positions as Chief Executive Officer ("CEO") and board director effective immediately. Through its European subsidiary, HemPoland, the Company also distributes premium hemp CBD oil and CBD-infused topicals in Europe. Our organic principles work to better the communities where we live and grow. Aleafia Health Inc. (TSX:AH)(OTCQX:ALEAF) posted third-quarter financial results. Loss from operations decreased by 68% in Q3 2020 compared to Q3 2019 to $6.34 million, primarily driven by increased gross profit and decreased operating expenses. Michel Gagné, TGOD's current Vice President of Operations, has been appointed COO. TGOD Chief Financial Officer, Sean Bovingdon, has been appointed Interim CEO. Production at the Quebec Facility of dissolvable powders, premium teas and concentrates has commenced, along with co-packing of third-party cannabis brands in October, which is helping absorb costs and better leverage the Company’s assets and licenses in Quebec. Net loss of $76.24 million consisting primarily of a non-cash impairment charge of $67.84 million realized during the quarter to reflect changes in the timing of accessing market demand, sales price compression across the industry, and the resulting slower revenue ramp up and growth. The Green Organic Dutchman Holdings Ltd. (OTC: TGODF) has entered into an agreement with Canaccord Genuity Corp. to purchase, on a bought deal basis an aggregate of 46,316,000 units at a price of $0.24 per Unit for aggregate gross proceeds to the Company of approximately C$11 million. On October 2, 2020, the Company agreed with its senior lender to extend the maturity date for its senior secured credit facility to December 15, 2021, in exchange for payment of a financing fee of $0.4 million and repricing of common share purchase warrants to purchase 7,000,000 Common Shares expiring December 20, 2022 from an exercise price of $1.00 per share to an exercise price of $0.30 per share, and extension of the expiry date to November 2, 2025, and issuance of additional common share purchase warrants to purchase 1,000,000 Common Shares at an exercise price of $0.30 expiring November 2, 2025. Find contact's direct phone number, email address, work history, and more. The board of directors decided that a change in leadership was necessary to drive the Company forward as it enters its next phase of growth and continues to work towards achieving positive EBITDA and cash flow as rapidly as possible. View today's stock price, news and analysis for Green Organic Dutchman Holdings Ltd. (TGOD). TORONTO, November 10, 2020 - The Green Organic Dutchman Holdings Ltd. ("TGOD" or the "Company") (TSX: TGOD) (US: TGODF), announced today its financial results for the third quarter of 2020 ended September 30, 2020, and leadership changes. Everything you need to know about our core values and principles. On October 23, 2020, the Company secured additional financing by closing a transaction with gross proceeds of $12.78 million for new equity. TGOD Chief Financial Officer Sean Bovingdon has been appointed Interim CEO. We are proud to offer a Patient Financial Assistance Program to eligible patients nation-wide. TGOD Chief Financial Officer, Sean Bovingdon , has been appointed Interim CEO. Renew your prescription now. Shares : 0 (0) Chief Financial Officer Sean Bovingdon to serve as Interim Chief Executive Officer Michel Gagné appointed Chief Operating Officer Total revenue of $5.71 million, an increase of 119% over Q3-2019 Canadian… TGOD Chief Financial Officer Sean Bovingdon has been appointed Interim CEO. your username. 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. Quarterly revenue of $5.71 million consisting of sales from cannabis products in Canada of $3.84 million and hemp-derived product sales in Europe of $1.87 million. -The Green Organic Dutchman Holdings Ltd., announced today its financial results for the third quarter of 2020 ended September 30, 2020, and leadership changes. Neither the TSX nor the TSX's 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. 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 (including market conditions) and other factors that could cause actual events or results to differ materially from those projected in the forward–looking statements, including those risk factors described in the Company's most recently filed Annual Information Form available on SEDAR.  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. TGOD Chief Financial Officer, Sean Bovingdon, has been appointed Interim CEO. The decision to swap CEOs “was made by the board of directors,” a spokesman for Green Organic Dutchman (TGOD) told Marijuana Business Daily via email. TGOD Chief Financial Officer, Sean Bovingdon, has been appointed Interim CEO. This website uses cookies to ensure you get the best experience on our website. Under the Company's new leadership, TGOD will operate with a renewed commitment to executional excellence and cost discipline as the Company drives revenue growth and operational stability. In addition, Michel Gagné, Vice President of Operations, has been appointed Chief Operating Officer (“COO”), overseeing the Company’s cultivation and processing … Stock analysis for Green Organic Dutchman Holdings Ltd/The (TGOD:Toronto) including stock price, stock chart, company news, key statistics, fundamentals and company profile. In his new role as COO, he will work closely with the CEO on the Company’s overall strategy and execution. "On behalf of the board of directors, we thank Brian Athaide for his contribution to TGOD, and I … TORONTO, Nov. 10, 2020 /PRNewswire/ - The Green Organic Dutchman Holdings Ltd. ("TGOD" or the "Company") (TSX: TGOD) (US: TGODF), announced today its financial results for the third quarter of 2020 ended September 30, 2020, and leadership changes.  These filings are available for review on the Company's SEDAR profile at www.sedar.com. Forward‐looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "should", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. For more information on The Green Organic Dutchman Holdings Ltd., please visit www.tgod.ca. Everything you need to know about organic cannabis, product specifics and TGOD. Sign up for the latest news and product updates so you don't miss out. TGOD said it intends to use the proceeds of the Offering for general corporate purposes. © 2020 The Green Organic Dutchman Holdings, ttps://produceredition.webcasts.com/starthere.jsp?ei=1398895&tp_key=a3ee2c0b4a, Chief Financial Officer Sean Bovingdon to serve as Interim Chief Executive Officer, Michel Gagné appointed Chief Operating Officer, Total revenue of $5.71 million, an increase of 119% over Q3-2019, Canadian cannabis revenue of $3.84 million, an increase of 41% quarter over quarter, Loss from operations reduced by 68% to $6.34 million compared to Q3-2019, G&A expenses continue to decrease, down to $5 million for the quarter, Company records non-cash impairment charge of $67.84 million. General and administrative expenses of $5 million for the quarter decreased in comparison to expenses of $13.34 million during the prior-year period and represent a decrease of $0.71 million from Q2-2020. The Company launched Organic Afghan Black hash under the Highly Dutch brand in Quebec with initial sales exceeding expectations. “We saw encouraging numbers in October as we sold more flower, additional RIPPLE and tea variants, and launched hash in Quebec. Date: November 11, 2020 | Time: 9:00 a.m. Eastern TimeParticipant Dial-InLocal – Toronto: 1-416-764-8688Toll Free – North America: 1-888-390-0546Conference ID – 68691087. These statements are only predictions. TGOD Chief Financial Officer, Sean Bovingdon, has been appointed Interim CEO.  In addition, Michel Gagné, Vice President of Operations, has been appointed Chief Operating Officer ("COO"), overseeing the Company's cultivation and processing operations, supply chain and product development.  In his new role as COO, he will work closely with the CEO on the Company's overall strategy and execution. Various assumptions were used in drawing the conclusions or making the projections contained in the forward‐looking statements throughout this news release. Excluding these severances and one-time CEWS benefit, underlying G&A reduced by $1.6 million or almost 30% versus the prior quarter. On October 1, 2020, the Company agreed with its lender to extend the maturity date for its revolving credit facility to December 31, 2021, in exchange for common share purchase warrants to purchase 500,000 Common Shares at a price of $0.30 per share expiring November 2, 2025. An audiocast of the conference call will be available on a listen-only basis at: https://produceredition.webcasts.com/starthere.jsp?ei=1398895&tp_key=a3ee2c0b4a. Of that, $3.84 million was … Please remove ${ cart.gramsTotal - cart.gramsAllowed }g. We're the global leader in cultivating premium, certified organic cannabis. In addition, the company announced a leadership change and provided business highlights for the third quarter ending September 30, 2020. Your prescription will expire on . TGOD Chief Financial Officer, Sean Bovingdon, has been appointed Interim CEO. Welcome! Get BOGO deals from five CBD this holiday season Its organic cannabis is cultivated in living soil, as nature intended. "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. The reductions from the prior quarter reflect the Company’s continuing plan to significantly reduce spending on third-party vendors, and was partially offset by increased severance costs of $0.6 million and the fact that the Company received $0.34 million in CEWS payments in Q2-2020.  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," commented Sean Bovingdon, Interim CEO of TGOD.  "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," added Mr. Bovingdon. We'll guide you along the way. Shop our products from online recreational cannabis retailers. A replay of the call will also be available through November 18, 2020 by dialing 1-416-764-8677 or 1-888-390-0541 (Passcode: 691087#). All you need is an account and a cannabis prescription. Get the latest news, financial updates and other essential investor information. It’s all out there to you on demand. "He recognizes the challenges we must confront, and I look forward to working with him and the rest of the TGOD team to pave a new way forward for the Company," added Mr. Scott. Forward looking statements in this release includes, but is not limited to, statements about revenues, production timelines, production volumes, general and administration costs, statements about the launch and distribution of the Company's new THC strains, mainstream cannabis and 2.0 products, statements about its operations in Quebec, and statements regarding the future cashflows and future performance of the Company.   Forward–looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "should", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. SOURCE The Green Organic Dutchman Holdings Ltd. Cision Distribution 888-776-0942 TGOD has recently made changes to its operations leadership structure and appointed Michel Gagné as Vice President, Operations. TGOD Chief Financial Officer, Sean Bovingdon, has been appointed Interim CEO. We are looking to build on this growth while focusing on financial discipline throughout the Company,” added Mr. Bovingdon. A, HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American, https://produceredition.webcasts.com/starthere.jsp?ei=1398895&tp_key=a3ee2c0b4a. The Company completed the necessary equipment transfers to transform its Valleyfield facility into a production and processing hub for its 2.0 products following challenges with third-party processing. This news release includes statements containing certain "forward‐looking information" within the meaning of applicable securities law ("forward‐looking statements"). The Company launched vapes in Alberta and British Columbia, listed Highly Dutch mainstream flower in Manitoba, Newfoundland, Ontario, and Saskatchewan, and added Zen Green Sencha tea to its product assortment in Quebec. The Company anticipates validation will be completed by the end of 2020, subsequently enabling export of medical cannabis products for commercialization to Europe and other jurisdictions.