TGOD Granted Import Licenses By Germany, Australia
The Green Organic Dutchman (TSX: TGOD) this morning provided a small updated related to its international operations, identifying that it has now received import licenses from two separate countries globally. The import licenses, granted by Australia and Germany, will enable the company to expand its operations outside of the Canadian markets.
While import licenses have been granted, the company has yet to receive valid export licenses from Health Canada, which is the next hurdle in the firms international strategy. Such licenses are expected in the fourth quarter as per the firm, with exports of medical products to commence in 2021, however a more definitive timeline was not provided.
In terms of distribution, the company has agreements in place for product distribution in Australia through that of LeafCann, which was announced late last month. The firm is to be the exclusive distributor of TGOD products in Australia and New Zealand, although the latter has not yet granted the necessary export permits. At the time, the company indicated that it anticipates commercial shipments to begin during the first quarter of 2021, however that timeline was not reiterated this morning.
As for Germany, distribution will be conducted through TGOD Europe, a longstanding subsidiary of the firm. Following EU-GMP certification that was obtained in July, the company became eligible for its products to be sold within the country and other European jurisdictions.
TGOD last traded at $0.24 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.
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