The license will reduce costs and accelerate the firm's development of new products
The Green Organic Dutchman Holdings Ltd () (OTCMKTS:TGODF), the organic cannabis group, has reached another milestone, namely a research licence from Health Canada.
The license will reduce costs and accelerate the firm's development of new products by eliminating reliance on third parties, it told investors in a statement.
The company also said it wants to leverage the new license to complete additional premium cannabis 2.0 products, which are expected to launch later this year.
READ: The Green Organic Dutchman closes $42.7 million credit facility
The firm has two Canadian facilities, from where it wants to launch a series of next products such as organic teas, infusers and vapes.
In Europe, via subsidiary HemPoland, it distributes premium hemp CBD oil and CBD-infused topicals.
"As consumers become increasingly aware that not all cannabis products are created equal, we want to ensure that TGOD continues to go to market with consumables that bear a seal of premium quality that they can trust," said Brian Athaide, chief executive at TGOD.
"By leveraging the expertise of our in-house science and marketing teams, we are able to optimize costs and accelerate our speed to market.
"In parallel, we are also layering on additional quality control measures ensuring a high level of consistency across all our product lines."
Shares in Toronto nudged up 1.85% to C$0.55 on the day. In New York they gained 3.68% to US$0.43.
Contact the author at [email protected]