The Green Organic Dutchman Stocks See an Increase with News of Cannabis Oil Sales License
The Green Organic Dutchman (TSX: TGOD)
just announced that it has received its oil sales license from Health Canada in compliance with the Cannabis Act for its Hamilton, Ontario facility. This was warmly received by investors with TGOD’s stocks up by almost 7% on the TSX floor.
After receiving its oil production license, the company installed a state-of-the-art supercritical CO2 extraction system. This is in line with industry best practices, which allows the company to extract highly-pure, organic cannabis oils. The extraction process also ensures that no toxic materials (typically residual hydrocarbons) are used in the extraction process – making it environmentally friendly.
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The company’s line of premium cannabis products and now with its cannabis oils have been certified organic by ProCert. With the installation of its proprietary extraction process, the company is now focusing on the development of premium cannabis products.
The company’s new extraction facility is compliant with GMP (Good Manufacturing Practices) standards and is currently undergoing European Union GMP (EU-GMP) certification. This will enable TGOD to expand its distribution of its cannabis oils to global markets.
“We are pleased to offer TGOD’s medical patients access to new premium certified organic cannabis oils,” said Brian Athaide, TGOD CEO. “In addition, this step will assist TGOD in transforming our premium quality organic raw material into a variety of higher-margin cannabis products which is core to our business plan, providing us with the opportunity to bring to market innovative and novel products, including beverages and edibles, once regulations permit. Cannabis 2.0 is rapidly approaching, and we will be ready,” continued Athaide.
The company is banking heavily on its new extraction process to create high-quality cannabis products. It says that the new process makes it possible for them to create full-spectrum cannabis products that contain varying amounts of cannabinoid and terpene concentrations.
March saw TGOD send its first certified organic cannabis strain to its first group of patients, the Grower’s Circle. And the company said that feedback has been extremely positive. The company is scheduled to begin shipping its “Unite Organic” Cannabis Oil later this month.
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The Green Organic Dutchman Stocks See an Increase with News of Cannabis Oil Sales License
