Announcement • Sep 13
BZAM to be Delisted from The Canadian Securities Exchange The securities of BZAM Ltd. will be delisted from the CSE (Canadian Securities Exchange) at market close on September 11, 2024. BZAM Ltd. is currently suspended. Announcement • Dec 06
BZAM Ltd. (CNSX:BZAM) entered into a definitive share exchange agreement to acquire Final Bell Canada Inc. from Final Bell Holdings International Ltd. approximately CAD 13.5 million. BZAM Ltd. (CNSX:BZAM) entered into a definitive share exchange agreement to acquire Final Bell Canada Inc. from Final Bell Holdings International Ltd. for approximately CAD 13.5 million on December 5, 2023. Under the terms of the Agreement FBHI will receive 90 million common shares of BZAM at a deemed price of CAD 0.15 per share, representing approximately one-third of the issued and outstanding shares of BZAM.
BZAM will also enter into a supply agreement under which FBHI’s wholly owned subsidiary,14th Round Inc., will continue to provide industry leading child-resistant packaging, high-tech vaporization hardware, and pre-roll cones to BZAM. As part of the Transaction, Greg Boone will join BZAM as President and Jennifer Maccarone will join as VP of Operations. FBC’s Chief Legal Officer Christy Zhou will assume the same role at BZAM, and Lana MacKenzie will also take on a senior role within BZAM. Matt Milich will remain as CEO of BZAM. In addition, FBHI will be entitled to appoint a new member to BZAM’s board of directors. Further to the Transaction, the combined Company will be the Canadian home of some of the most recognizable international brands in the cannabis industry. In accordance with the terms of the Agreement, FBHI will enter into a contractual lock-up agreement, whereby the BZAM Shares received at Closing shall be subject to a lock-up, with 1/3 of being released on the 4-month, 8-month, and 12-month anniversaries of the date such shares are issued. As part of the Transaction, FBC will retain a promissory note issued to FBHI in the amount of $4 million, bearing zero percent interest, maturing March 31, 2025, and subordinate to BZAM's current credit facility.
Clarus Securities Inc. acted as a exclusive financial advisor to BZAM. Transaction is subject to customary closing conditions and is anticipated to close on or about December 18, 2023. Reported Earnings • Nov 29
Third quarter 2023 earnings released: CA$0.084 loss per share (vs CA$0.091 loss in 3Q 2022) Third quarter 2023 results: CA$0.084 loss per share. Revenue: CA$21.0m (up 112% from 3Q 2022). Net loss: CA$15.7m (loss widened 128% from 3Q 2022). New Risk • Nov 03
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Canadian stocks, typically moving 17% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (17% average weekly change). Shareholders have been substantially diluted in the past year (140% increase in shares outstanding). Minor Risk Market cap is less than US$100m (CA$27.1m market cap, or US$19.7m). Announcement • Oct 31
BZAM Ltd. announced that it expects to receive CAD 3 million in funding BZAM Ltd. announced a private placement to issue a loan secured promissory notes from the Chairman and largest shareholder of the Company of up to CAD 3 million on October 30, 2023. The Loan will bear interest at a rate of prime plus 8% per annum and mature no earlier than April 1, 2025.
On the same date, the company announced that it has issued 1.19 million in first tranche. Announcement • Oct 05
BZAM Ltd. announced that it expects to receive CAD 2 million in funding BZAM Ltd. announced that it has entered into an engagement letter with Clarus Securities Inc in best efforts basis and. to issue 15,384,615 units at an issue price of CAD 0.13 per unit for the gross proceeds of CAD 1,999,999.95 led by chairman on October 3, 2023. Each Unit will consist of one common share and one Share purchase warrant with each Warrant entitling the holder thereof to acquire one Share at an exercise price of CAD 0.18 per Warrant Share for a period of three years from the Closing Date. the Agent may offer up to a maximum of 21,153,846 Units for aggregate gross proceeds of approximately CAD 2,750,000 and the Company has granted the Agent an option, exercisable in whole or in part, to purchase up to an additional 3,173,076 Units for a period of 30 days from and including the Closing Date to cover over-allotments, if any, and for market stabilization purposes. The Agent shall be under no obligation whatsoever to exercise the Over-Allotment Option in whole or in part. If the Over-Allotment Option is exercised in full, the aggregate gross proceeds of the Offering will be approximately CAD 3,162,500. The Offering is expected to close on or about October 12, 2023, or such other date as may be agreed upon by the Company and the Agent and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals, including the approval of the Canadian Securities Exchange. The transaction may include participation from certain insiders. Announcement • Sep 21
BZAM Ltd. Provides Revenue Guidance for the Third Quarter of 2023 BZAM Ltd. provided revenue guidance for the third quarter of 2023. The company anticipated third quarter net revenue of at least $20.3 million, a 5% increase vs. the prior quarter. Board Change • Aug 27
High number of new and inexperienced directors There are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. 1 experienced director. No highly experienced directors. Member of the Advisory Board Tim Seymour is the most experienced director on the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Announcement • Aug 19
BZAM Ltd. to Report Q2, 2023 Results on Aug 24, 2023 BZAM Ltd. announced that they will report Q2, 2023 results Pre-Market on Aug 24, 2023 Announcement • Aug 12
BZAM Ltd. (CNSX:BZAM) completed the acquisition of additional 30.52% stake of BZAM Holdings, Inc. from certain minority shareholders for CAD 0.1 million. BZAM Ltd. (CNSX:BZAM) agreed to acquire additional 13.6% stake of BZAM Holdings, Inc. from certain minority shareholders for CAD 0.05 million on July 13, 2023. As part of the consideration, the buyer issued 0.24 million of common shares in exchange of 0.12 million of target's Class A shares.
BZAM Ltd. (CNSX:BZAM) completed the acquisition of additional 30.52% stake of BZAM Holdings, Inc. from certain minority shareholders for CAD 0.1 million on August 10, 2023. As consideration for the Share Purchase, the Company: (i) issued an aggregate of 475,000 common shares of the Company (the "Common Shares") to certain BCC shareholders at a price of between CAD 0.18 and CAD 0.23 per Common Share; and (ii) paid an aggregate of CAD 0.015 million to other BCC shareholders who did not receive Common Shares. The closing of the Share Purchase has resulted in the Company owning 88.2% of BCC, which is a 30.5% increase of the Company's existing ownership stake of BCC. Announcement • Aug 11
An unknown buyer completed the acquisition of Maple Ridge Facility of BZAM Ltd. An unknown buyer entered into a conditionally sale to acquire Maple Ridge Facility of BZAM Ltd. for CAD 4 million on April 7, 2023. The consideration of CAD 4 million is payable 25% in May 2023 and 75% to be paid within one year. BZAM Ltd. had held Maple Ridge Facility for sale as at December 31, 2022. The sale has not closed as the conditions are still to be satisfied. As of May 31, 2023, the transaction is expected to be completed within the next 12 months. An unknown buyer completed the acquisition of Maple Ridge Facility of BZAM Ltd. on August 9, 2023. In accordance with two purchase and sale agreements between BZAM Ltd and arms-length parties dated on August 1and 4, 2023, total gross proceeds received from the transaction were CAD 3.228 million with 50% of the total net proceeds from the Transaction, after commission and costs. BZAM Ltd completed the sale of the majority of its assets in both its Midway properties in B.C, including all associated lands, support buildings, related equipment and on-site biomass. Announcement • Jul 06
An unknown third party acquired Galaxie Brands Corp. from BZAM Ltd. (CNSX:BZAM) for CAD 0.56 million. An unknown third party acquired Galaxie Brands Corp. from BZAM Ltd. (CNSX:BZAM) for CAD 0.56 million on July 4, 2023. BZAM sold all of the issued and outstanding shares in the capital of Galaxie to a third party for CAD 556,522 less usual post closing adjustments.
An unknown third party completed the acquisition of Galaxie Brands Corp. from BZAM Ltd. (CNSX:BZAM) on July 4, 2023. Announcement • May 26
BZAM Ltd. to Report Q1, 2023 Results on May 30, 2023 BZAM Ltd. announced that they will report Q1, 2023 results at 4:00 PM, US Eastern Standard Time on May 30, 2023 Announcement • May 20
BZAM Ltd. announced that it expects to receive CAD 5 million in funding BZAM Ltd. announced a a non-brokered private placement of up to approximately 22,222,223 units at an issue price of CAD 0.225 per unit for gross proceeds of CAD 5,000,000 on May 19, 2023. Each Unit will consist of one common share and one Share purchase warrant. Each Warrant entitling the holder thereof to acquire one Share at an exercise price of CAD 0.40 per warrant share for a period of three years from the Closing Date. The transaction is subject to regulatory and CSE approvals. The securities issued will be subject to a statutory hold period of four months and one day from the date of issuance in accordance with applicable securities legislation. The transaction is expected to close on May 31, 2023. Announcement • May 12
The Green Organic Dutchman Ltd. Receives EU GMP Certification Approval The Green Organic Dutchman Ltd. has received EU GMP certification for the Company's facility located in Ancaster, Ontario. This certification permits the Company to export certain medicinal cannabis products to numerous global markets. The certification is valid for a three-year period from inspection, with a renewal date of August 31, 2025. This certification allows BZAM to execute on existing strategic distribution partnerships which have already been established, including partnerships in Germany and the UK. With regard to the UK, the Company anticipates launching multiple strains under The Green Organic Dutchman brand in Fourth Quarter 2023. With Germany's recent moves toward legalising cannabis for recreational use, BZAM is now well positioned to benefit from regulatory changes as they unfold. The Company expects to see a positive impact on revenue from international sales resulting from EU GMP certification by fourth quarter 2023, if not sooner. Announcement • Jan 26
The Green Organic Dutchman Holdings Ltd. Appoints Bassam Alghanim as Chairman of the Board The Green Organic Dutchman Holdings Ltd. announced that Mr. Bassam Alghanim has been appointed Chairman of the Board, effective as at January 24, 2023. Mr. Alghanim brings extensive knowledge and experience to this position, having enjoyed a highly rewarding and successful career as an investor, businessman, and banker spanning four decades. Announcement • Jan 05
The Green Organic Dutchman Holdings Ltd. Announces Departure of Michel Gagné as Chief Operating Officer, Effective January 31, 2023 The Green Organic Dutchman Holdings Ltd. announced the departure of Mr. Michel Gagné from his position as Chief Operating Officer of the Company, effective as at January 31, 2023. Announcement • Dec 23
The Green Organic Dutchman Holdings Ltd. has completed a Composite Units Offering in the amount of CAD 5.083 million. The Green Organic Dutchman Holdings Ltd. has completed a Composite Units Offering in the amount of CAD 5.083 million.
Security Name: Units
Security Type: Equity/Derivative Unit
Securities Offered: 12,707,500
Price\Range: CAD 0.4 Announcement • Nov 19
The Green Organic Dutchman Holdings Ltd. to Report Q3, 2022 Results on Nov 23, 2022 The Green Organic Dutchman Holdings Ltd. announced that they will report Q3, 2022 results at 4:00 PM, US Eastern Standard Time on Nov 23, 2022 Announcement • Nov 05
The Green Organic Dutchman Holdings Ltd. (CNSX:TGOD) acquired BZAM Holdings, Inc. The Green Organic Dutchman Holdings Ltd. (CNSX:TGOD) entered into an agreement to acquire BZAM Holdings, Inc. on October 19, 2022. In consideration for all the issued and outstanding common shares of BZAM, upon Closing, TGOD will issue shares to the BZAM Shareholder in two tranches. In addition, a cash payment on Closing in the amount of CAD 100 and the BZAM Shareholder is also entitled to earn up to CAD 33 million in shares tied to annual net revenue targets and positive adjusted EBITDA targets for 2023. BZAM generated CAD 32.2 million net revenue in calendar 2021. The transaction was approved by the shareholders of TGOD on June 29, 2022. In accordance with the terms of the Agreement, the BZAM Shareholder will enter into a contractual lockup agreement, whereby the shares received as part of closing, and excluding the milestone Shares, shall be subject to escrow with 1/3 of such Escrowed Shares being released on the 4-month, 8-month, and 12-month anniversaries of the date such Escrowed Shares are issued. Clarus Securities Inc. acted as exclusive financial advisor to the BZAM and DuMoulin Black LLP acted as Canadian legal counsel to BZAM. Aird & Berlis LLP acted as Canadian legal counsel to TGOD. Odyssey Trust Company acted as transfer agent to TGOD. The Transaction is scheduled to close on or about November 3, 2022.
The Green Organic Dutchman Holdings Ltd. (CNSX:TGOD) acquired BZAM Holdings, Inc. on November 4, 2022. The Transaction results in the BZAM Shareholder holding an approximate 49.5% of the issued and outstanding Combined Entity Shares, with the ability to earn additional Combined Entity Shares subject to achievement of certain financial milestones in 2023. Following the closing of the Transaction, the Company is now led by Matt Milich as Chief Executive Officer, supported by Sean Bovingdon as Chief Financial Officer, Jordan Winnett as Chief Compliance Officer and Michel Gagne as Chief Operating Officer. The board of directors of the Company (the “Board”) now consists of two new nominees from BZAM, being Tony Moschella and Keith Merker, who will join existing TGOD Board members Angus Footman, remaining as Chair of the Board, Jacques Dessureault, Chris Schnarr, Louis Sterling III and Olivier Dufourmantelle. Announcement • Oct 20
The Green Organic Dutchman Holdings Ltd. (CNSX:TGOD) entered into an agreement to acquire BZAM Holdings, Inc. The Green Organic Dutchman Holdings Ltd. (CNSX:TGOD) entered into an agreement to acquire BZAM Holdings, Inc. on October 19, 2022. In consideration for all the issued and outstanding common shares of BZAM, upon Closing, TGOD will issue shares to the BZAM Shareholder in two tranches. In addition, the BZAM Shareholder is also entitled to earn up to $33 million in shares tied to annual net revenue targets and positive adjusted EBITDA targets for 2023. BZAM generated $32.2 million net revenue in calendar 2021. The transaction was approved by the shareholders of TGOD on June 29, 2022. In accordance with the terms of the Agreement, the BZAM Shareholder will enter into a contractual lockup agreement, whereby the shares received as part of closing, and excluding the milestone Shares, shall be subject to escrow with 1/3 of such Escrowed Shares being released on the 4-month, 8-month, and 12-month anniversaries of the date such Escrowed Shares are issued. Clarus Securities Inc. acted as exclusive financial advisor to the BZAM and DuMoulin Black LLP acted as Canadian legal counsel to BZAM. Aird & Berlis LLP acted as Canadian legal counsel to TGOD. The Transaction is scheduled to close on or about November 3, 2022. Announcement • Sep 22
The Green Organic Dutchman Holdings Ltd. Launches New Products Fall 2022 in British Columbia, Alberta & Ontario The Green Organic Dutchman Holdings Ltd. announced new Fall 2022 SKU launches. With record yields and increased growing capacity, the organization will now offer products in additional size options which will serve market preference and offer consumers increased flexibility. Highly Dutch Organic Cherry Mints 28g – Launching in British Columbia; TGOD Organic Dried Flower 14g – Launching in Alberta; Highly Dutch Organic Rotterdam Indica 7g & Amsterdam Sativa 7g – Launching in Alberta; Organic Skunk Haze 5 X 0.5g pre-rolls – Launching in Alberta; Organic Afghan Black hash 2g & Organic Marrakech Gold hash 2g – Launching in Alberta. Further to size expansion, there are four innovation SKUs which will launch in Ontario this Fall, followed by other provinces in the months ahead. TGOD Organic Gold Butter MAC 3.5g Whole Flower - Organic Gold Butter MAC - 3.5g Whole Flower - A certified organic Indica dominant hybrid, grown in living soil using natural sunlight and purified rainwater. This innovative TGOD original phenotype is grown from a Peanut Butter Breath x (Quebec Gold x Gorilla Glue) male, and a MAC-1 female. The result is a truly unique cultivar, bringing pungent frosty buds with smooth, roasted butter and nut flavour. This unique flower will be sold in TGOD's award winning sustainable green glass jars. Available in November. TGOD Natural Leaf Wrap – Organic Gold Butter Mac 1g Ultra-Premium Pre-Roll - a natural, sustainably grown tendu leaf is rolled and filled with a TGOD original pheno, Organic Gold Butter MAC. This unique Tendu Leaf Wrap is made with whole flower and no sugar leaves, giving a consistent, high-quality burn that's slow and refined. Each pre-roll will be sold in a recyclable glass tube. Available in November. Highly Dutch Organic Rotterdam n' Rosin 0.5g – Organic Rosin-infused vape - a 20:80 rosin infused distillate indica vape, made from organic cannabis and native cannabis terpenes. Available in November. Cruuzy Strawberry Jerry 3.5g Whole Flower - a rare sativa known for its mysterious BC lineage with terps delivering a strong berry and earthy aroma. Available in October. Announcement • Sep 07
The Green Organic Dutchman Holdings Ltd. (CNSX:TGOD) acquired HemPoland sp.z.o.o. from The Green Organic Dutchman Holdings Ltd. (CNSX:TGOD) for CAD 1.2 million The Green Organic Dutchman Holdings Ltd. (CNSX:TGOD) acquired HemPoland sp.z.o.o. from The Green Organic Dutchman Holdings Ltd. (CNSX:TGOD) for CAD 1.2 million on September 6, 2022.The Green Organic Dutchman Holdings Ltd. (CNSX:TGOD) completed the acquisition of HemPoland sp.z.o.o. from The Green Organic Dutchman Holdings Ltd. (CNSX:TGOD) on September 6, 2022. Announcement • Aug 18
The Green Organic Dutchman Holdings Ltd. to Report Q2, 2022 Results on Aug 29, 2022 The Green Organic Dutchman Holdings Ltd. announced that they will report Q2, 2022 results After-Market on Aug 29, 2022 Announcement • Jul 13
The Green Organic Dutchman Holdings Ltd. Announces Chief Financial Officer Change The Green Organic Dutchman Holdings Ltd. announced the resignation of Ms. Nichola Thompson from her position as Chief Financial Officer of the Company, effective August 4, 2022. Ms. Thompson has decided to pursue unique opportunities outside of the cannabis industry. Mr. Sean Bovingdon, Chief Executive Officer ("CEO") of the Company, has been appointed Interim CFO, effective August 4, 2022. Mr. Bovingdon was the previous CFO of the Company prior to being appointed the CEO in March 2021. The Company has engaged an executive recruitment firm for the search of a permanent CFO. Announcement • Jul 08
The Green Organic Dutchman Holdings Ltd. Launches New Summer SKU Launches At OCS The Green Organic Dutchman Holdings Ltd. announced new summer SKU launches at OCS. 2022 has seen the introduction of successful dried flower SKUs, like TGOD's Organic Maple Kush and Organic Cherry Mints, plus innovative, popular SKUs, like Highly Dutch Organic's 6-Month Oak Barrel Hash and Cruuzy's SprChrgd Duubyz pre-rolls. To build on that success, five new SKUs will be released in Ontario, this Summer. The new products, outlined below, will also roll out to other provinces in the months ahead. TGOD Premium: Organic Maple Kush (3.5g) has had notable sales success in the dried flower category and will now be available in Pre-roll format. Organic Maple Kush 3 X.5g Pre-Roll is a high-THC, high- terpene indica in organic hemp paper and a compostable container. Certified organically grown in living soil, this trichome-covered high-THC indica is a TGOD original cross between KoloaSunrise and GG4. Organic Maple Kush gets its name from the Canadian organic maple syrup used to feed the soil it grows in, giving it a natural source of carbohydrates. This beautiful bud brings with it a tropical, fruity, kush-like finish, a result of Myrcene and Farnescene terpenes that dominate this strain's aroma and flavour. Available August 2nd. Highly Dutch Organic: Building on the strong performance of Rotterdam Indica and Amsterdam Sativa in the flower category, this will be the first vape SKU under the Highly Dutch Organic brand. Amsterdam n' Rosin is a 20:80 organic rosin-infused distillate sativa vape, made from cannabis flower and native cannabis terpenes. This vape is designed to bring an enriched full flavoured sativa experience at an affordable price. Each pull delivers thick, terpy, full flower rosin flavour in a convenient affordable 0.5g cartridge. The perfect vape for everyday use. Available August 2nd. Cruuzy: Rosin Charged Hash is a fusion of high quality trichomes and solventless rosin, delivering a striking blend of full-flower flavour and powerful potency in every experience. It starts by carefully pressing high-quality flower into a sticky golden rosin. The rosin is then blended with the finest quality kief, creating a unique, 100% solventless, truly flavourful rosin charged hash experience. Available in 2g format August 2nd. Puffing Season is another offering in the successful Cruuzy portfolio of bringing unique dried flower genetics to market. This sativa-dominant hybrid has scents of musk, gas, and lemons. The deep hue buds of this sativa are coated with frosty hairs. Available for a limited time in 3.5g August 2nd. Ube Coconut Vape is a very uniquely flavoured vape using the top food trend of 2022, Ube. Each vape features a nutty vanilla flavour, complemented with the subtle taste of coconut. This unique taste experience combines natural, botanical terpenes, made with high-quality distillate, Available in 1g carts August 2nd. Wyld: In addition to the TGOD core brands, the Wyld Team has grown on its popular portfolio, by adding Real Fruit Peach Gummies 5:1 CBD: THC. Each Wyld Peach gummy contains 5mg of THC and 25mg of CBD combined with the terpenes Limonene, Linalool, Alpha-Pinene, and Beta-Pinene and they're packaged in compostable packaging. Announcement • Apr 16
The Green Organic Dutchman Holdings Ltd., Annual General Meeting, Jun 29, 2022 The Green Organic Dutchman Holdings Ltd., Annual General Meeting, Jun 29, 2022. Announcement • Apr 06
The Green Organic Dutchman Holdings Ltd. Announces Retirement of Nicholas Kirton as Member of the Board of Directors and Chair of the Audit Committee The Green Organic Dutchman Holdings Ltd. announced that member of the Board of Directors (Board) and Chair of the Audit Committee Nicholas Kirton has announced his retirement from the Board effective April 5, 2022. Announcement • Feb 02
The Green Organic Dutchman Holdings Ltd. Appoints Ms. Nichola Thompson as New Chief Financial Officer The Green Organic Dutchman Holdings Ltd. announced the appointment of Ms. Nichola Thompson to the position of Chief Financial Officer of the Company. Ms. Thompson joins the senior management team at TGOD, having most recently held the position of CFO at Galaxie Brands Corporation, which was acquired by TGOD in November 2021. Ms. Thompson brings a broad range of experience guiding the finance departments of both public and private companies. Her experience includes CFO roles in the cannabis industry at Embark Health Inc., and Entourage Health Corp. ("Entourage"). During Ms. Thompson's tenure at Entourage, she was responsible for guiding the organization during a period of rapid growth, helping build the cannabis company into a multi-facility, fully licenced entity. Before entering the cannabis industry, Ms. Thompson held senior finance positions at Discovery Air, Deloitte &Touche, Siemens, and Priority One Packaging. Throughout her career she has successfully aligned finance and business goals to support corporate strategies. A Western University Business Administration &Commercial Studies graduate, Nichola Thompson obtained her Chartered Professional Accountant and Chartered Accountant designations in 2007 and is a member of the Institute of Chartered Accountants of Ontario. Announcement • Aug 27
TGOD Announces Voluntary Delisting from the Toronto Stock Exchange The Green Organic Dutchman Holdings Ltd. announced that the Company intends to list its common shares (the "Common Shares") and listed Common Share purchase warrants (the "Warrants") on the Canadian Securities Exchange (the "CSE"), and has received conditional approval from the CSE to do so. The Company is currently addressing all outstanding items to receive final approval of its application (the "Listing Application") to list its Common Shares and Warrants on the CSE (the "CSE Listing"). The Company has also submitted an application to the TSX to voluntarily delist (the "Voluntary Delisting Application") its Common Shares and Warrants. The Voluntary Delisting Application is subject to TSX approval. The board of directors and management of the Company believe that listing the Common Shares and Warrants on the CSE will be beneficial to the Company and its securityholders, as a result of the Company being subject to reduced filing fees and obligations. In line with recent corporate objectives, the CSE Listing will allow the Company to accelerate plans for an entry into the United States ("U.S.") market. As mentioned in the Company's most recent quarterly results communication, initial discussions have commenced with approximately half a dozen groups in the U.S., in respect of the Company's plans to enter into the U.S. market. In order to advance these discussions, the CSE Listing is vital to show credibility in terms of being able to make an investment or complete a transaction. The Voluntary Delisting Application is being made in conjunction with and is subject to the Company receiving final approval from the CSE for the CSE Listing. There is no guarantee that the CSE will approve the Company's Listing Application. If the Company's Listing Application receives final approval by the CSE, it is the Company's intention to take all reasonable and prudent steps, as required and with assistance and cooperation from the CSE and the TSX, to list the Company's Common Shares and Warrants on the CSE without interruption or delay. As a result, the Company is expecting the delisting of its Common Shares and Warrants from the TSX to be effective at the close of business on September 10, 2021, and the listing of its Common Shares and Warrants on the CSE to be effective on September 13, 2021. After this change, the Common Shares and Warrants will only be available for trading on the CSE. Securityholder approvals of the Voluntary Delisting Application and the CSE Listing are not required. Major Estimate Revision • Aug 18
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 revenue forecast increased from CA$39.1m to CA$42.4m. Forecast EPS reduced from -CA$0.02 to -CA$0.06 per share. Pharmaceuticals industry in Canada expected to see average net income growth of 37% next year. Consensus price target up from CA$0.38 to CA$0.42. Share price fell 21% to CA$0.26 over the past week. Reported Earnings • Aug 12
Second quarter 2021 earnings released: CA$0.061 loss per share (vs CA$0.028 loss in 2Q 2020) The company reported a decent second quarter result with improved revenues, although losses increased and control over costs was weaker. Second quarter 2021 results: Revenue: CA$9.52m (up 115% from 2Q 2020). Net loss: CA$32.5m (loss widened 236% from 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has fallen by 61% per year, which means it is performing significantly worse than earnings. Breakeven Date Change • Jun 24
Forecast to breakeven in 2023 The 3 analysts covering Green Organic Dutchman Holdings expect the company to break even for the first time. New consensus forecast suggests losses will reduce by 70% per year to 2022. The company is expected to make a profit of CA$7.61m in 2023. Average annual earnings growth of 84% is required to achieve expected profit on schedule. Recent Insider Transactions • May 27
Independent Director recently bought CA$204k worth of stock On the 21st of May, Jacques Dessureault bought around 610k shares on-market at roughly CA$0.34 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought CA$291k more in shares than they have sold in the last 12 months. Major Estimate Revision • May 19
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 revenue forecast fell from CA$40.0m to CA$39.1m. 2021 losses expected to reduce from -CA$0.06 to -CA$0.02 per share. Pharmaceuticals industry in Canada expected to see average net income growth of 133% next year. Consensus price target up from CA$0.23 to CA$0.28. Share price fell 7.4% to CA$0.32 over the past week. Price Target Changed • May 15
Price target increased to CA$0.28 Up from CA$0.24, the current price target is provided by 1 analyst. New target price is 6.8% below last closing price of CA$0.29. Stock is up 7.3% over the past year. Reported Earnings • May 13
First quarter 2021 earnings released: EPS CA$0.025 (vs CA$0.23 loss in 1Q 2020) First quarter 2021 results: Revenue: CA$7.70m (up 163% from 1Q 2020). Net income: CA$12.5m (up CA$85.7m from 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has fallen by 57% per year, which means it is performing significantly worse than earnings. Announcement • May 05
The Green Organic Dutchman Holdings Ltd. Introduces New Promise for Quality, Consistency, and High-THC Organic Whole Flower Across Canada The Green Organic Dutchman Holdings Ltd. announced the launch of its refined line of premium organic whole flower products available to provincial boards across Canada. The commitment to quality and consistency includes large, hand-selected top cola buds, greater than 20% THC potency in each lot, and a moisture pack in each jar to maintain optimum humidity levels from the moment it is packed. TGOD is reclaiming its position as the premium organic cannabis provider in Canada. "We are 100% committed to quality, consistency, and transparency, and want to ensure that only top-quality flower is in market. That's the TGOD Promise." added Gagné. As part of its promise for quality, consistency, and high-THC level, any core TGOD flower skus stocked in provincial warehouses that did not meet the Company's strict quality standards have been pulled out of the market by TGOD and replaced with TGOD's new higher-quality flower. TGOD's new premium whole flower products are available to provincial boards nationally. CleanCraft: TGOD implemented a set of enhanced cultivation and processing methods to deliver on its promise of bringing an organically grown craft quality product to Canadian consumers. Certified organically grown: Not all cannabis is organic. TGOD grows beyond the standards set for the industry. All TGOD flower is organically grown and certified by Pro-Cert, an internationally recognized organic accreditation body. Growing organically is how nature intended. Grown in Living Soil: TGOD's living soil is a thriving ecosystem full of beneficial microbes, enzymes, and minerals. Its ingredients are sourced from all over Canada, including glacial rock dust, maple syrup, and more, and there's a functional purpose for each of them. These inputs act as a buffet for the plant to select from based on its needs. Whereas many companies grow in an artificial medium and try to manually "feed" the plant, TGOD feeds the soil allowing nature to do what it does best. Natural Elements: TGOD's hybrid greenhouse is designed to bring the best of nature indoors. It uses a combination of sun and full-spectrum LED light. For hydration, the Company uses naturally purified, captured rainwater. It also developed a proprietary aeration system that maximizes clean airflow from the bottom upward through the canopy to maintain ideal conditions. Hand-selected and Trimmed: The Company's harvesting team selects only the top colas, the largest buds with higher cannabinoid and terpene content, to be sold under the TGOD brand. Each bud is meticulously trimmed to preserve the integrity of its shape and the rich trichomes that cover it. Slow-Dried and Cured: TGOD's organic whole flowers dry at a cool temperature to let the cannabinoids continue to develop after being harvested. Each bud is given enough time to develop its full flavour and aroma. In doing so, the oxygen and other compounds react with chlorophyll in the flowers to improve taste, intensify terpene flavours, and offer an overall better consumption experience. Enhanced Transparency: In parallel with the implementation of CleanCraft™, TGOD is improving its packaging. The Company's iconic glass jar will continue to be used, but the labels will now feature additional information to provide further transparency on flower quality and profile. Not only will the percentage of terpenes be indicated, but also the dominant three terpenes in each lot. Complete COAs will continue to be available on TGOD's website for the full terpene profile. Premium Organic Whole Flower Portfolio: TGOD's portfolio of premium organic whole flowers currently comprises four High-THC strains, with plans to introduce additional innovative strains. Major Estimate Revision • Mar 16
Analysts lower revenue estimates to CA$40.0m The 2021 consensus revenue estimate decreased from CA$62.7m. Earnings per share (EPS) also decreased, with analysts lowering their estimates from -CA$0.03 to -CA$0.06 for the same period. The Pharmaceuticals industry in Canada is expected to see an average net income growth of 11% next year. The consensus price target was lowered from CA$0.24 to CA$0.22. Share price is down by 4.3% to CA$0.34 over the past week. Reported Earnings • Mar 11
Full year 2020 earnings released: CA$0.49 loss per share (vs CA$0.71 loss in FY 2019) The company reported a solid full year result with reduced losses, improved revenues and improved control over expenses. Full year 2020 results: Revenue: CA$21.5m (up 96% from FY 2019). Net loss: CA$182.5m (loss narrowed 6.5% from FY 2019). Analyst Estimate Surprise Post Earnings • Mar 11
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 16%. Earnings per share (EPS) also surpassed analyst estimates by 35%. Over the next year, revenue is forecast to grow 192%, compared to a 241% growth forecast for the Pharmaceuticals industry in Canada. Announcement • Mar 03
The Green Organic Dutchman Holdings Ltd. to Report Q4, 2020 Results on Mar 09, 2021 The Green Organic Dutchman Holdings Ltd. announced that they will report Q4, 2020 results After-Market on Mar 09, 2021 Announcement • Feb 19
The Green Organic Dutchman Holdings Ltd. Announces the Addition of Organic Sugar Bush to Its Portfolio of Premium Strains The Green Organic Dutchman Holdings Ltd. announced the addition of Organic Sugar Bush to its portfolio of premium strains. TGOD's Organic Sugar Bush, a high-THC Sativa variety, was developed based on feedback from consumers and presents the top characteristics Canadian cannabis users look for when purchasing premium dried flower – a THC level higher than 20%, large buds, certified organically grown, and balanced humidity to preserve its terpenes and trichomes. The fruit of careful in-house genetic analysis and certified organically grown in living soil, Organic Sugar Bush gets its name from Quebec's maple forests – the source of the maple syrup used to nurture the soil it grows in. TGOD's grow team analysed a myriad of strains before selecting Organic Sugar Bush, a strain it perfected by developing a unique cultivation method which includes the addition of maple syrup from Quebec to its proprietary living soil. The result, a full-bodied strain packed with aroma – bringing with it a fruity, sweet scent reminiscent of ripe melon and passion fruit. The plant features bright green leaves, tiny peach pistils, and large buds that are soft and sticky to the touch. The launch of Organic Sugar Bush is the continuation of TGOD's plans to introduce innovative strains as part of its premium portfolio. Announcement • Feb 13
The Green Organic Dutchman Holdings Ltd. Signs National Supply Agreement with Namaste Technologies' CannMart The Green Organic Dutchman Holdings Ltd. announced that it has signed a supply agreement with CannMart, a subsidiary of Namaste Technologies Inc., making its certified organic medical cannabis products available via CannMart's online medical cannabis sales platform. Under the two-year term agreement, TGOD will provide CannMart with a broad portfolio of certified organic medical cannabis products, including premium dried flower, RIPPLE dissolvable powder, gummies, and teas. Announcement • Feb 12
Namaste Technologies Announces Expansion of Product Range to Canadian Medical Customers at CannMart.com with the Addition of Leading Licensed Producers Including Auxly and TGOD Namaste Technologies Inc. announced the expansion of its product range to Canadian medical customers at CannMart.com with the addition of leading licensed producers: Auxly Cannabis Group Inc. (“Auxly”) and The Green Organic Dutchman Holdings Ltd. (“TGOD”). As well as expanding the product offering at CannMart.com with products from market leading licensed producers, the Company is also welcomed carefully selected craft cannabis producers that bring new and exciting products, most recently Wabi Sabi Brands LTD. (“Wabi Sabi”). Those registered at CannMart.com can expect new products from Auxly, TGOD and Wabi Sabi to become available in March 2021. Is New 90 Day High Low • Feb 05
New 90-day high: CA$0.36 The company is up 20% from its price of CA$0.30 on 06 November 2020. The Canadian market is up 13% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Pharmaceuticals industry, which is up 71% over the same period. Announcement • Feb 02
The Green Organic Dutchman Holdings Ltd. to Transition Medical Business to Wholesale Model, Working with National Partner Medical Cannabis by Shoppers to Unlock Growth Potential The Green Organic Dutchman Holdings Ltd. unveiled plans to transition its medical business to a wholesale model, in line with other pharmaceutical products' distribution models. TGOD's patient-centered approach will enable easier access to a broad range of medical cannabis products without having to register with multiple licensed producers. TGOD has a national supply agreement in place with Medical Cannabis by Shoppers ("Shoppers"), a subsidiary of Shoppers Drug Mart Inc., Canada's largest pharmacy network, and is Shoppers' largest supplier of certified organically grown medical cannabis. Every effort has been made to ensure that there is no supply disruption for patients and all TGOD products will be available via Shoppers' online store platform. TGOD also has agreements with other medical distributors and clinics, with plans to increase its presence within the medical market as it transitions from its legacy direct-to-patient model. The company will support its patients throughout the transition period which is expected to be completed by April 1, 2021. In collaboration with its partners, TGOD has developed a seamless transfer process and will continue to handle orders as usual until the end of the transition. Announcement • Jan 29
TGOD Launches Stillwater Brands' RIPPLE Gummies in Canada The Green Organic Dutchman Holdings Ltd. (TGOD or the Company) announced the launch of RIPPLE Gummies by TGOD, Canada's cannabis-infused confectionary product to offer a scientifically validated 15-minute onset. They will initially be available in Alberta, British Columbia, and Manitoba, with plans to expand distribution across the country once provincial listings are received. RIPPLE Gummies are made using certified organically grown cannabis, real fruit juice and all-natural flavours and colours. Each pack contains two precisely dosed 5mg THC-gummies for a total of 10mg, the maximum allowed under Canada's Cannabis Act. RIPPLE Gummies leverage the same fast-acting proprietary technology used in quick-dissolving RIPPLE powder, which rapidly became one of the top-selling SKUs within the cannabis beverage category due to its scientifically validated 15-minute onset, in Canada. As part of its licensing agreement with Stillwater, TGOD plans to further expand its RIPPLE offering with additional flavours Honey Infusion CBD and Mango Balance, scheduled to launch in the second quarter of 2021. Announcement • Jan 16
The Green Organic Dutchman Holdings Ltd. Announces Launch of Amsterdam Sativa Under its Mainstream Brand, Highly Dutch The Green Organic Dutchman Holdings Ltd. announced the launch of Amsterdam Sativa under its mainstream brand, Highly Dutch. Offered in three different formats, 3.5g, 15g, and 28g, Amsterdam Sativa will be available in Alberta, Saskatchewan, Manitoba, Ontario, Quebec, and Newfoundland. Amsterdam Sativa has a high potency with a THC level of 17% – 20%. It is organically grown and expertly cured in order to maintain a balanced humidity level to protect the integrity of its terpenes and trichomes. It also features sweet floral flavours with punchy aromas. The buds included in Amsterdam Sativa are carefully selected based on quality to deliver a consistent potency and unique experience in every batch. Is New 90 Day High Low • Jan 15
New 90-day high: CA$0.35 The company is up 23% from its price of CA$0.28 on 16 October 2020. The Canadian market is up 12% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Pharmaceuticals industry, which is up 83% over the same period. Recent Insider Transactions • Dec 16
Independent Chairman of the Board recently bought CA$51k worth of stock On the 14th of December, Jeffrey Scott bought around 200k shares on-market at roughly CA$0.25 per share. This was the largest purchase by an insider in the last 3 months. This was Jeffrey's only on-market trade for the last 12 months. Announcement • Dec 12
The Green Organic Dutchman Holdings Ltd. has completed a Composite Units Offering in the amount of CAD 11.00008 million. The Green Organic Dutchman Holdings Ltd. has completed a Composite Units Offering in the amount of CAD 11.00008 million.
Security Name: Units
Security Type: Equity/Derivative Unit
Securities Offered: 39,286,000
Price\Range: CAD 0.28
Discount Per Security: CAD 0.0168 Announcement • Nov 26
The Green Organic Dutchman Receives Health Canada Approval to Export Medical Cannabis to Europe The Green Organic Dutchman Holdings Ltd. announced that it has received an Export Certificate from Health Canada. This certificate enables TGOD to complete its first shipment of medical cannabis to Germany where it will undergo stability testing, the last step before the Company can commence commercialization in 2021. Major Estimate Revision • Nov 17
Analysts lower revenue estimates to CA$21.1m The 2020 consensus revenue estimate decreased from CA$27.7m. Earnings per share (EPS) also decreased, with analysts lowering their estimates from -CA$0.29 to -CA$0.37 for the same period. The Pharmaceuticals industry in Canada is expected to see a 15% decline in net income next year. The consensus price target was lowered from CA$0.33 to CA$0.24. Share price is up 1.9% to CA$0.28 over the past week. Analyst Estimate Surprise Post Earnings • Nov 13
Earnings beat expectations, revenue disappoints Revenue missed analyst estimates by 29%. Earnings per share (EPS) exceeded analyst estimates by 567%. Over the next year, revenue is forecast to grow 246%, compared to a 175% growth forecast for the Pharmaceuticals industry in Canada. Reported Earnings • Nov 13
Third quarter 2020 earnings released: CA$0.20 loss per share The company reported a mediocre third quarter result with increased losses and weaker control over expenses, although revenues were improved. Third quarter 2020 results: Revenue: CA$4.88m (up 93% from 3Q 2019). Net loss: CA$76.1m (loss widened 278% from 3Q 2019). Price Target Changed • Nov 13
Price target lowered to CA$0.30 Down from CA$0.35, the current price target is an average from 3 analysts. The new target price is 17% above the current share price of CA$0.26. As of last close, the stock is down 63% over the past year. Announcement • Nov 05
The Green Organic Dutchman Holdings Ltd. to Report Q3, 2020 Results on Nov 10, 2020 The Green Organic Dutchman Holdings Ltd. announced that they will report Q3, 2020 results at 5:00 PM, Eastern Standard Time on Nov 10, 2020 Is New 90 Day High Low • Oct 22
New 90-day low: CA$0.22 The company is down 44% from its price of CA$0.40 on 24 July 2020. The Canadian market is up 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Pharmaceuticals industry, which is up 12% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share. Announcement • Oct 04
The Green Organic Dutchman Provides Update on Export Pipeline The Green Organic Dutchman Holdings Ltd. announced that it has received import licences from the Australian and German authorities, and has applied for export licences with Health Canada. These licences enable TGOD to export its premium certified organically grown products for validation. The Company anticipates validation will be completed by the end of the year and is on track to commence commercial export of medical cannabis products in 2021. TGOD signed a distribution agreement with Australia's LeafCann and has access to a vast network in Europe through its wholly owned subsidiary, TGOD Europe. The Company expects to complete its first commercial shipment in 2021. Is New 90 Day High Low • Sep 24
New 90-day low: CA$0.30 The company is down 13% from its price of CA$0.35 on 26 June 2020. The Canadian market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Pharmaceuticals industry, which is up 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share. Announcement • Sep 17
The Green Organic Dutchman Signs Agreement with Established Chocolatier for New Line of Premium Cannabis-Infused Chocolates and Provides Update on Valleyfield Facility Transformation The Green Organic Dutchman Holdings Ltd. announce that it has entered into an agreement with an established chocolatier for a new line of premium organic chocolate to be produced at its Valleyfield site. As part of its portfolio expansion strategy, TGOD plans to launch a line of premium cannabis-infused chocolates. The new product line will be produced using high-quality Belgian chocolate, organic gourmet ingredients, and infused using RIPPLE's proven fast-acting cannabis technology. Valleyfield Reconfiguration. As previously disclosed, considering capacity challenges with third party processing, the Company made the strategic decision to transform its licensed facility located in Valleyfield, Quebec, into a processing hub to support its expanding product portfolio. In doing so, TGOD significantly reduced its reliance on third parties, gained more control over its processing activities, and improved agility and quality control. The equipment relocation has now been completed, with production of RIPPLE Dissolvable Powders and premium teas expected to restart this month. TGOD has also begun production of concentrates and Ripple Gummies in Valleyfield. Hash should be available for sale at the end of this month under the Company's mainstream brand, Highly Dutch, while Ripple Gummies are planned to launch in the fourth quarter. 
