TGOD Ends Medical Cannabis Program, Transitions To Wholesale Model

The Green Organic Dutchman (TSX: TGOD) this morning announced that it is giving up the ghost in regards to its medical cannabis program. The company announced that it is working towards transitioning its medical program to that of a wholesale program, which is likely being done in an effort to cut costs.

TGOD's Logo

Commenting on the transition, TGOD indicated that it is making the move to be aligned with “other pharmaceutical products distribution models.” The company will be relying on its national supply agreement with Medical Cannabis by Shoppers for its medical cannabis distribution going forward, with all products being made available on the platform.

The company also identified it has other arrangements in place with medical distributors and clinics, however details were not provided. The firm did indicate that it intends to increase its presence within the medical market however.

Commenting on the transition, interim CEO Sean Bovingdon stated, “Shifting to a wholesale model not only makes sense from a business standpoint, allowing us to invest working capital in other growth opportunities, but it also gets us closer to our goal of eliminating the stigma that surrounds the plant within certain medical circles.

The transition is expected to be completed by April 1.

TGOD last traded at $0.30 on the TSX.


Information for this briefing was found via Sedar and The Green Organic Dutchman. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

200 Grams of Gold And 21% Copper — That’s Not Normal | Matt Wilson – Sterling Metals

Silver at $100? This Time It Might Stay There. | David Morgan

Critical Minerals Are Rerating! | John Passalacqua – First Phosphate

Recommended

Steadright Enters MOU To Acquire Historic Goundafa Polymetallic Mine In Morocco

Military Seizes Power in Madagascar After President Flees

Related News

From Founder To Former: Severance In the Cannabis Sector

You’re only the worth the value of your severance package. Or at least, that’s what...

Thursday, January 9, 2020, 06:13:51 PM

The Green Organic Dutchman Struggles to Find Additional Funding, Threat of Construction Delays Loom

Funding for cannabis operations in Canada is drying up quick, as demonstrated by today’s news...

Wednesday, October 9, 2019, 09:14:21 AM

TGOD Walks Away from US$30 Million Financing, Announces C$22 Million Bought Deal Financing

The Green Organic Dutchman (TSX: TGOD) announced this morning that the firm will be conducting...

Tuesday, November 26, 2019, 08:50:13 AM

The Green Organic Dutchman Completes Sale Of Valleyfield Facility To Cannara Biotech

The Green Organic Dutchman Holdings (TSX: TGOD), through its wholly-owned subsidiary Medican Organic, announced this...

Wednesday, June 23, 2021, 08:55:30 AM

TGOD Reports Prelim Q4 Revenues Of $10.9 Million, Lowers Guidance Significantly

The Green Organic Dutchman (TSX: TGOD) this morning released unaudited revenue figures for the fourth...

Tuesday, February 9, 2021, 07:54:05 AM