The Green Organic Dutchman Holdings Ltd (TSE:TGOD) (OTCMKTS:TGODF) is heading into Quebec thanks to a new agreement with provincial cannabis regulators.
The agreement with Société québécoise du cannabis (SQDC), a subsidiary of the government-owned SAQ, marks TGOD’s entry into all but one Canadian province.
In a statement, TGOD told investors that Canada’s second-most populous province plays an important role in the Toronto-based cannabis company’s national rollout strategy, with SQDC is aiming to be the first province to market TGOD’s organic teas as they become available at the end of April.
"Entering the Quebec market is an important milestone for TGOD as we continue ramping up sales and production volumes," said TGOD’s CEO Brian Athaide in a statement Tuesday.
"Our teas leverage the same fast-acting technology used for TGOD Infusers, and a proprietary know-how, which eliminates the need to use sugar when infusing cannabinoids in whole leaf teas. Our science team successfully developed a lineup of great-tasting tea blends that are organically grown and sustainably sourced."
The agreement coincides with the startup of TGOD’s Ancaster, Ontario processing facility, which will provide a boost to the company’s production timeline, it told shareholders.
TGOD now has agreements every province except Prince Edward Island. It plans to bolster production and broaden its portfolio of product offerings.
Shares of TGOD rose 7.7% in Toronto at C$0.28 and 2.1% over the counter at US$0.20 on Tuesday morning.
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