The Green Organic Dutchman Holdings Ltd. (OTCQX: TGODF) (TSX: TGOD) is pleased to announce, in conjunction with Epican Medicinals (“Epican”), the successful opening of its first legal cannabis retail store in Jamaica, on Saturday, July 14th. This flagship location provides Epican and TGOD with immediate revenue from the sale of premium Jamaican grown organic cannabis and further exemplifies TGOD’s value-added approach to partnerships.
The ~4,000 sq. ft. flagship dispensary in Kingston represents the first of several Epican Herb Houses scheduled to be completed across Jamaica by the end of 2018. These locations will serve the medical needs of Jamaica’s 3 million residents and over 3.5 million visitors each year.
“Immediate revenue has always been an important component of Epican business plan,” said TGOD CEO, Brian Athaide. “We expect Epican to increase revenues significantly in the coming months as production increases and more Herb Houses come online.”
TGOD investments are structured as true partnerships, where portfolio companies receive support and industry leading knowledge. This knowledge transfer includes cultivation methodology, extraction, R&D, and organic certification, through to accounting, auditing, sales, marketing, and distribution.
Jamaica is recognized as a premier destination for cannabis, and Epican has deep roots in the country. The founders of the business, the McKenzie brothers, have been at the forefront of the nation’s burgeoning medical cannabis industry, including advocacy for the responsible development of the industry. Epican was awarded the country’s historic first cultivation licence.
See photo here.
“Today is a celebratory day for Epican and TGOD,” said Karibe McKenzie, CEO of Epican. “We have worked tirelessly to provide an end to end, fully integrated solution delivering high-quality cannabis to Jamaicans and tourists alike. We were delighted at the response and look forward to building off this positive momentum and launching several more Herb Houses by the end of 2018.”
“The Kingston dispensary is an important step in TGOD’s global strategy,” said Csaba Reider, President of TGOD. “Commercializing legalized, high-quality, organic medical cannabis to the market is proof of our commitment to portfolio companies and our ability to go beyond cash infusion. The Epican team are great business partners and we would like to thank all those involved who have made this day happen.”
TGOD owns 49.18% of Epican. The partnership will provide 14,000 kgs of TGOD’s total funded capacity of 170,000 kgs. TGOD will provide Epican access to its financing facilities to support future expansion requirements. Epican and TGOD are partnering to construct a 150,000 sq. ft. GMP compliant facility in Jamaica. Upon receiving the license for this site expansion, Epican will cultivate premium strains for Jamaican and international markets.
On Behalf of the Board of Directors,
The Green Organic Dutchman Holdings Ltd.