Connect with us

Cannabis

The Green Organic Dutchman Reports Q2 2019 Results

Vlad Poptamas

Published

on

Reading Time: 2 minutes

 

The Green Organic Dutchman Holdings Ltd. (the “Company” or “TGOD”) (TSX: TGOD) (US: TGODF) is pleased to report its financial and operational results for the three and six months ended June 30, 2019. These filings are available for review on the Company’s SEDAR profile at www.sedar.com.

Q2 Highlights:

The Company:

  • Is nearing completion of construction at its Hamilton site and Phase 1 at its Valleyfield site, with investment amounting to $53.1 million in the second quarter of 2019, bringing the total additions year to date to $100.9 million.
  • Achieved revenues of $2.9 million, a 20% increase over the prior quarter derived primarily from Europe. In Canada, the Company launched its pilot “Grower’s Circle”, which included sales to a small number of medical patients to test the market and the Company’s distribution capabilities. The Company launched two new products in Q2 and expects to start a similar pilot in the Ontario recreational market during Q3-2019.
  • Experienced a net loss of $16.6 million for Q2-2019. Management continued to maintain a disciplined approach to operational costs as it prepares for commercialization of its products in Canada and internationally.

Other key updates in the quarter

The Company:

  • Announced provincial board supply agreements with Alberta Cannabis and BC Cannabis Stores, expanding its footprint in Western Canada.
  • Achieved its organic certification for the Valleyfield facility from Pro-Cert, an internationally recognized organic certification organization.
  • Signed a distribution agreement with Mediakos UG haftunsbeschraenkt to be the exclusive distributor of CannibiGold, HemPoland’s premium hemp CBD brand, for the German pharmacy market. In addition, the Company launched its Global Strategic Hemp Division.
  • Entered into a multi-year agreement with Neptune Wellness Solutions Inc. for extraction, formulation and packaging services. As part of the agreement, the Company will have exclusivity on extraction, formulation and packaging of certified organic products within and for the Canadian market.

Investor conference call to discuss second quarter results 

Management will host a conference call tomorrow at 9:00 a.m. Eastern Time to discuss the results. Participants may access the call by dialing 416-764-8688 (Toronto) or 1-888-390-0546 (North America); Conference ID 37027015. For those unable to participate on the live call, a playback will be available for one week after the conference call using this URL:
https://event.on24.com/wcc/r/2045003/C17F2A331332C2718597218C3F00D7C9.

Management Commentary

“Q2 was pivotal for the Company as we began commercial production in the second phase of our Hamilton site and expanded our product line for the Grower’s Circle,” commented Brian Athaide, CEO of TGOD. “The product quality feedback from the Grower’s Circle has been overwhelmingly positive, confirming that patients appreciate having access to premium certified organic cannabis, an underserved segment of the market.  With double digit quarterly growth in Europe and construction nearing completion in Canada, the team continues to deliver on our ambitious business plan with executional excellence.  We now have our first purchase order from the OCS in hand and look forward to shipping our first recreational sales this week,” continued Athaide.

 

SOURCE The Green Organic Dutchman Holdings Ltd.

Hello!


Thank you for visiting my profile and thank you for reading my news and published press release!


There a many things that shape a man, but the carving is done by the hobbies and passions. I've pursued two main careers, professional photography and webdesign, while also keeping a passion for automobiles, technology and games. At PICANTE NEWS, I take care of news editing and press release publishing in se
veral categories and as I've mentioned, during my spare time, I am also a professional photographer with webdesign skills.

My future plans include developing more journalistic skills and start creating investigative journalism. You can find my reports and press release coverages in the following categories:


BANKING/FINANCIAL SERVICES, COMPUTER ELECTRONICS, AUTOMOTIVE, CONTRACTS, ANALYSIS, INTERNET TECHNOLOGY, BIOTECHNOLOGY, BLOCKCHAIN, ACQUISITIONS, RETAIL, and many more.



You can get in touch to discuss interviews or possible article submissions by contacting us.


Let's also connect via social media! You can find me on Facebook or visit my photo portfolio.

Blockchain

Can Blockchain Technology Really Solve The Problems Faced By The Cannabis Industry?

Alex Marginean

Published

on

Photo Credits: dabsmagazine.com
Reading Time: 7 minutes

For sure, anything related to technology may seem too complex for the ordinary person. Despite having a somewhat complex name, blockchain technology is quite easy to understand. I’m just an ordinary person like you and me, yet I was able to perform research on blockchain technology, and let me tell you, it’s quite impressive.

If you have been following cryptocurrency over the last few years, you may have already come across the term “blockchain.” If you’re not a tech expert like me, then you would have relied on Google for the definition of blockchain. Moreover, Google may have given you an answer like this: “Blockchain is a decentralized, distributed, public ledger.”

It sounds a lot harder to understand according to this definition. Basically, blockchain is the technology typically used by Bitcoin, which is a type of digital currency, in keeping track of its records.

It’s quite understandable why a few industries have misunderstood blockchain technology, considering that it is a fairly new niche in a speculative market with a somewhat foggy set of laws. On another note, cannabis also exists in a speculative market with an unclear set of regulations.

Nevertheless, both industries are receiving an influx of talented programmers and entrepreneurs looking to present a solution that will resolve their respective industry’s biggest worries. With that in mind, I wanted to come here and present to you ways on how the blockchain technology can actually assist in transforming the cannabis industry.

The Cannabis Industry is Booming

Truly, the times are changing as 30 states have legalized the use of marijuana. Nine of the 30 states legalized the use of recreational marijuana, while the other 21 states have legalized medical marijuana. It is without a doubt that the cannabis industry is booming as a total sales $6.7 billion was reported by 2017.

This number is expected to rise with a projected sales of $20.2 billion by the year 2021, which is quite an amazing figure. In fact, experts are saying that the growth rate of the cannabis industry outpaces that of which was set by the tech firms during the dot-com bubble.

I find that unlike the other industries, the cannabis industry tends to be subjected to careful examination from the public. It receives more scrutiny as compared to others. As a result, this heightens the level of uncertainty in the cannabis marketplace.

While cannabis enthusiasts are indifferent toward the idea of additional safety measures and regulations surrounding product provenance, this is an industry that would need all the help it can get. Regulators, businesses, and entrepreneurs should consider how blockchain technology could be the answer to the challenges faced by the cannabis industry.

Blockchain Technology as the “New Internet”

Before I start discussing the reasons as to why numerous cannabis firms are utilizing their own blockchain technology, it is only right that I talk a little more about what blockchain technology is and what it can do.

A lot of people have been commenting on how blockchain is an “ingenious invention.” In fact, publicly traded companies, such as IBM, are now utilizing blockchain technology as a means to solve numerous issues.

As its name suggests, blockchain is a chain of blocks. Blocks refer to digital information, which is then stored in a chain, also known as a public database.

With that in mind, these blocks, which are digital pieces of data, have three parts:

It stores the details concerning a transaction, which would involve the time, date, and dollar amount of the most recent purchase.
It also stores the information concerning those participating in the transaction. However, instead of using a name, blockchain technology reads data through unique digital signatures.

Lastly, blocks store data that makes each block unique. A code, which is referred to by many as a “hash,” is assigned to a block which will represent a particular transaction. The code of your previous purchase may look identical to your recent purchase; however, the blocks can easily tell each transaction apart by using the codes.

When a block stores new information, that information is added to the blockchain. However, before a blockchain is formed, there are four things that must first happen:

  • A transaction must first occur
  • The transaction must be verified
  • The transaction details must be stored in a block
  • The block must be provided with a hash

Why Cannabis Companies Are Embracing Blockchain Technology
Similar to most supply chains, the cannabis industry can greatly benefit from the blockchain technology. The enhanced provenance that blockchains can provide brings about the peace of mind in both suppliers and customers.

By utilizing blockchain technology, it would be easy to identify how marijuana was grown and by whom, who were the parties involved in every cannabis transaction, and that no link along the cannabis supply chain was involved in any illegal elements.

Without further adieu, here are some of the reasons why cannabis companies are embracing blockchain technology.

Processing of Payments
The processing of payments is probably one of the struggles of the cannabis industry. Despite having the majority of the states in the US legalized either recreational or medical marijuana, the federal law still poses a number of restrictions as to how payment is accepted and stored by cannabis-based firms. Moreover, 300 out of 11,000 banks, in the United States of America allow cannabis business owners to open an account.

Since cryptocurrencies and other digital currencies are unregulated and decentralized, this provides cannabis business owners the ability to accept secure and fast payments that are cashless. Since cannabis-based businesses are cash-only businesses, blockchain technology can greatly aid in the accounting processes of the business.

With blockchain technology, owners of cannabis companies no longer have to sift through an infinite amount of financial statements. Blockchain technology will not only change how payments are accepted by the cannabis industry but also the entire operation of global commerce.

Quality Assurance
The production process of cannabis may touch on numerous businesses – from the farmers and growers to the authorized dispensaries, and from cannabis retailers to consumers. Nevertheless, the utilization of blockchain technology in the supply chain of cannabis businesses provides a complete picture of its end-to-end process; thus, ensuring quality assurance.

Maintenance
Stemming from the previous point, blockchain technology also allows the consumers, regulators, and business owners of cannabis products to pinpoint the inefficiencies in the cannabis end-to-end process. Remember, a supply chain that is supported by the blockchain’s flawless math has the potential to produce an improved overall customer experience.

Standard of Transparency
Paragon CEO Jessica Versteeg shares with Rolling Stone on how her cannabis startup is utilizing its very own cryptocurrency based on blockchain technology. For VerSteeg, it’s all about transparency in the cannabis space, considering the fact that this industry is facing unclear regulations across borders.

The ledger used by the blockchain technology can either reduce or eliminate any trace of human-based complication because it is unchanging. Financial institutions and government agencies that are performing audits on cannabis-related transactions can utilize blockchain technology as a means to keep track of its legality.

Limiting Over-Consumption
There are still unclear parameters governing the use, sale, and purchase of cannabis in states that have legalized its production and consumption. While there isn’t much difference between the legality of marijuana among the various states, the laws governing cannabis production and consumption are still too difficult to enforce.

This difficulty can actually lead to potential criminal networks. What’s worse is that tracing and identifying who is abiding by the regulations and who is going against it has become much more challenging.

Needless to say, heavy-handed tactics are prohibited in the context of the legalization of cannabis, and a simple introduction of blockchain technology to monitor and track personal sales would represent a fair middle ground between the current lack of command and more unhandy strategies.

There are two companies that use blockchain technology to solve this kind of issue. With IBM’s proposed solutions, there is an increased transparency on the legality of cannabis sales. In addition, BlockMedx is working on various ways in which blockchain can assist in combatting opioid abuse.

Facilitating Taxation
No matter where you buy it or how much you paid for it, you are always going to face a heavy tax when purchasing marijuana products; this was a huge part of the legalization pitch, after all. In fact, California reported over $2.7 billion wroth of cannabis derived tax.

If one is to utilize blockchain ledger technology and that this would be mandated for dispensaries, there is a high chance that sales figures would become certain and stable. By extension, it would lead to accurate taxation and simpler audits for all of the parties involved. The best part is that the revenues from cannabis-related transactions are given back in larger amounts to the citizens of the states who have chosen to legalize marijuana.

Again, IBM as one of the companies who proposed to the Canadian Government a particular blockchain solution for ensuring the effective and accurate tracking of cannabis so much so that it would lead to easier taxation.

Nevertheless, the act of utilizing blockchain technology can also present a number of disadvantages and risks for the cannabis industry. In fact, a company by the name of Deloitte mentioned how blockchain risks are classified into three categories, which are as follows:

Standard Risks
Blockchain technology will open cannabis-based companies to various risks that are associated and are actually quite similar to that of the current business processes. This can be considered as a nuance for those who need to account for their transactions.

Value Transfer Risks
Blockchain technology allows the peer-to-peer transfer of value without any need for a primary intermediary. The value involved in this particular transfer could either be a piece of information, identity, or even assets.

With that in mind, this new technological business model exposes the transactions and any interaction made between two parties. As a result, it opens them to new risks that central intermediaries used to manage.

Smart Contract Risks
When it comes to smart contract risks, these have the potential to encode complex financial, legal, and business arrangements on the blockchain system. Furthermore, it could also result in a higher level of risk associated with the act of mapping these transactions from the physical to the digital structure.

Final Thoughts on CBD and Cryptocurrency intersection

It is without a doubt that blockchain technology has the ability to transform any business process. It can do so by disintermediating the business’ processes and central entities, improving any of its efficiencies, and allowing the creation of an immutable audit on transactions.

According to what has been explained about blockchain technology, and what has been shared regarding the current state of the cannabis industry in the United States of America, it is clear that this industry can benefit from using this developing technology as a means to track and monitor its end-to-end process without ever neglecting marijuana laws.

With that in mind, here are my final thoughts on the utilization of blockchain technology by businesses in the cannabis industry:

One thing is for sure, blockchain technology brings about an impact in various industries only because companies are choosing to embrace its system. Basically, blockchain technology can assist in the seed-to-sale monitoring and tracking of the cannabis industry.

The states that have legalized the use of either recreational or medical marijuana make use of scanning and tracking procedures so that they can monitor the journey of every cannabis product until it reaches the end-user. Nevertheless, the full farm-to-table life cycle is quite difficult to track.

This is where the blockchain technology comes in. It can easily fix this particular issue that the cannabis industry is facing. With the used of codes and labels that blockchains bring to the table, all of the information concerning cannabis-related transactions can easily be traced, stored, archived, and searched.

More and more companies are now turning to blockchain technology for a more decentralized, secured, and transparent data ledger. With that in mind, I can vouch for having at least a blockchain developer be part of your team.

By welcoming blockchain into your business, much like what cannabis companies are doing now, you are allowing easy verification without having the need to be dependent on third-parties.

 

Continue Reading

Cannabis

What Trends Are Shaping The Cannabis Industry In 2019?

Emma Gill

Published

on

Photo by Drew Taylor on Unsplash
Reading Time: 4 minutes

Cannabis has been on the path of an upward spiral ever since the news of legalization broke from the west. The trend is slowly catching up on various parts of the world. More research, news, and information to expand the knowledge of people around the globe about cannabis have also begun to emerge. Today people from everywhere are excited to learn about the miracle plant and understand how to incorporate its usage to benefit them. Even the legal ties around the plant are slowly vanishing with an expanding body of research, and we can understand cannabis in its entirety very soon. The global market for the product is also expanding, with more industries looking to include cannabis-based products in their range. Investments, new medical and non-medical applications, legalization, cultivation, and so much more are in line for cannabis as its trends in 2019. Some of the most popular trends of 2019 around this plant that has captured the world’s attention are listed here.

Source

 

1. Binging with Weed beverages: Cannabis edibles have been an innate part of the cannabis industry. While the legal terms around cannabis edibles are still rocky, CBD, the non-psychoactive cousin of THC in cannabis is taking over the world by storm. CBD has become the base for the cannabis beverage trends that promise a whole new level of flavored drinks and energy drinks. Hemp-derived beverages have started making a place in the regulated dispensary channels, whereas towards the end of the year, the possibility of further commercialization is visible. The farm bill is an encouraging front that promises the possibility of such progress. Beverages are more result focussed, such as drinking coffee for energy or tea for relaxation as compared to food in general. Hence the emergence of cannabis in this market is a trend to watch out. Historical top brands are looking at possible tie-ups and partnerships to introduce cannabis-infused lines that could change the course of the cannabis industry within the next few years.

 

2. The Blurring lines of Legalization: While legalization started with medicinal use of marijuana in focus, the latest trends show the line thinning between recreational and medicinal use. The regulations imposed in most places seem to help control the use of recreational marijuana. It indicates that marijuana sales for multipurpose consumption without restrictions on the application will become more common in the days to come. The line between medicinal and adult-use channels is dull, and there is a lot of crossover between these applications. Consumers are evolving through cannabis trends such as edibles, beverages, topicals, etc. With cannabis becoming such an integral part of their lifestyle, the lines may thin further.

Source

 

3. Alleviating approachability:  The digital market platforms available have eased the process of shopping in every segment. Cannabis is no exception to this trend, as online market platforms have become a personal favourite for most weed consumers. While legalization started in various areas, issues such as location and accessibility of dispensaries posed as a problem for consumers to try this plant. But online shopping platforms promise high quality, are easier to browse, you can shop with tons of more choices than in a dispensary. One should know the particular information about when to harvest cannabis ?. After that, all they have to do is order indoor cannabis seeds and start growing. Smooth delivery at home is possible to enjoy your cannabis is complete ease.

 

4. Climbing the social ladder: After many years of constant turmoil and social degradation as a drug, cannabis has managed to remove the stigma around it in the past few years. More consumers are becoming aware of the plant and its benefits, and hence it is finding its way into mainstream social gatherings. Cannabis themed cafes and restaurants, and cannabis-friendly gatherings are popping up in various locations across the world. Also, consumption in places such as lounges is becoming common in certain areas. Coffee shops, pubs are keeping up with the evolving trend to stay on top of their games. It is an important trend as cannabis is gradually becoming a social situation stimulant. It could be good news as some believe that the expansion of cannabis could eventually bring down tobacco consumption.

 

5. The Cannabinoids in Command: Cannabinoids are the hotshot cousins of THC that have taken over the cannabis world in the past few months. Being a non-psychoactive ingredient, CBD has been able to pave way for marijuana beyond the boundaries of dispensaries into general stores and markets. The education among users to understand the difference between THC and CBD is slowly spreading. A lot of understanding regarding the different terpenes and cannabinoids of cannabis is underway. The current market for CBD is mostly relying on ingestible forms such as CBD oil Canada and tinctures. But the future holds a wider range of options such as infusion in vitamins, beverages, supplements, food, pills, and most of all, inhalable.

Source

6.Dependable Distribution roots: While the past years witnessed a boom in cannabis business at cultivation and retail levels, this year is all about emerging in the distribution channel. The number of distribution-based companies primarily focused on segments such as packaging, labeling based on licenses is emerging into the sector. One such trusted company is get kush. One should buy from getkush.ca as they have a plethora of high-quality CBD strains at affordable prices. The scope for these companies is large, and a boom in this market is promising for tons of new companies to emerge. With laws such as Multi-States Operators rule, which is also the latest development in the cannabis industry, the opportunities for these companies are ample.

 

The past few years have shown tremendous growth in the cannabis sector. The years to come promise improvements in cultivation techniques, distribution channels, better market access to consumers, and opportunities in new sectors. These improvements will help us witness the evolution of cannabis.

Continue Reading

Beauty and Lifestyle

Is It Safe To Drive On CBD?

Emma Gill

Published

on

Photo by Emiliano Vittoriosi on Unsplash
Reading Time: 4 minutes

Safe driving requires sharp skills and the right state of mind. How you drive the car depends on a lot of conditions. From feeling dozy, being under the influence of alcohol to experiencing anxiety from mental issues, all sorts of things can mess up your control at the wheel. Cannabis consumption also becomes part of this list due to its ability to make you “high,” thereby thwarting your response. While Cannabis contains some psychoactive compounds, Hemp, which is a strain of Cannabis Sativa, is mostly free of such compounds and is legal for consumption. It’s worth a closer look to understand if CBD, which is a compound found in Hemp, really sucks if taken before your driving session.

Can CBD trouble you while driving?

CBD or “cannabidiol” is a chemical compound widely found in the Hemp strain of Cannabis. While Cannabis has a big impression of being “mind-altering,” it is primarily due to the presence of THC compound.

CBD has a negligible quotient of THC in it and hence is not considered psychoactive. But that doesn’t mean it is entirely okay to drive on CBD since it can have some other effects on your body. So the answer is: it depends on the consumer.

If you are accustomed to taking CBD, then it won’t be a problem in most of your activities. However, if you are only starting, observe how you hold up on CBD before you crank up the engine.

Most of the marketed CBD supplements carry less than 0.3% THC element in them, which makes them risk-free. This level of THC can’t produce any significant mind-altering effect, which can cause harm while driving.

 

Can CBD help you while driving?

CBD is a Cannabinoid which is being gradually explored by researchers due to its medicinal values. Studies suggest that CBD can help us cope with several issues in our day to day life like inflammation, obesity, indigestion, etc.

CBD’s organic nature works positively with the human body’s Endocannabinoid system and provides various benefits to the body. It can regulate certain chemicals in the human body and thereby lift your mood and relieve you of anxiety.

CBD oil and pills are also an excellent replacement for the regular allopathic doses, which come with a lot of side-effects that may curtail your physical abilities. The easiest way to get familiar with CBD and test your tolerance level is by having a taste of CBD Pills. The pills are convenient as you can simply swallow them and continue with your daily chores.

 

How should you approach CBD if you are one who is often at the wheel?

Users consume CBD in multiple ways. From vape to pills, tinctures, and gummy bears- CBD’s multifaceted form makes it a popular substance for people of all ages. Since CBD is a new phenomenon for most people who are not well-educated about it, they usually confuse CBD with the psychoactive THC element, which is quite dominating in its influences. The truth is that CBD’s extraction process is entirely independent of THC, and there is no reason you should confuse the two.

Different products derived from CBD compound have different levels of impact. A pill may take many hours to make you feel relaxed while also lasting for a longer time. On the other hand, skin lotion or even an injected solution of CBD can prove its effects reasonably quickly but may soon lose its influence. So you should judge your circumstances and choose the way which suits you best.

 

Here are some points to keep in mind if you are a driver and have decided to embrace CBD:

  • If you are a long-time consumer of Cannabis products, there is no reason for you to bother. CBD may relax you, but it is not going to intoxicate you in any way. So you will be in the best of states to handle the steering.
  • If you are a newbie and have never consumed anything related to Cannabis, relax; CBD is not going to make you “high” like other THC-induced products. However, you may feel lightheaded after taking CBD if you are not much accustomed to it. In such cases, you shouldn’t drive until you feel okay.
  • After an intake of CBD for the first time, it is better if there is a co-driver with you in the car who can take control if you feel drowsy.
  • CBD has minimal THC content and is harmless in itself. However, you should monitor how you are coping with it and be mindful of the quantity that is suitable for you.
  • Although CBD’s source strain Hemp has less than 0.3% THC, the products may bring you legal problems if you travel abroad with those. Most governments allow a THC volume ranging between 0.2-0.6%, but you should be sure about the local rules before you hit the road.
  • If you are still concerned about your post-CBD driving sessions, search for CBD products that are certified to contain 0% THC. Click here to know more about the cbd.

Final suggestions for drivers willing to try CBD:

The recent studies and experiments on Cannabis have brought several positive results. As the medicinal values of Cannabis are getting more and more acceptance on a global level, the apprehensions regarding it are also decreasing. One should understand that there are different varieties of Cannabis, and people use them in different ways based on their needs. If you wish to get high, there are different strains for that purpose. Nowadays, hybrid strains are developed to give different results to users.

 

As far as CBD goes, it is by far the safest option in the world of Cannabis. One of the reasons for CBD’s increasing popularity is its flexible usability. CBD can be used as edible oil, capsules, or even lotions. Combine its utility, easy availability, and legal permissibility; you have a substance that can make life comfortable without severe consequences.

While most of the studies on CBD are at their initial stages, it is safe to say that if taken in a specified dosage regularly, CBD can help people cope with particular mental and physical issues. Everything said you should remember that driving is a serious task that asks for all your concentration. Hence, it will be prudent to go slow and understand your tolerance level so that there are no harsh effects. You can always consult your doctor to check the initial impacts of CBD solutions on your body. A steady start will help you drive “high” in the long run!

Continue Reading

Font Resizer

Subscribe to PICANTE via Email

Enter your email address to subscribe to PICANTE and receive notifications of new posts by email.

Follow us on Facebook

Read more from our authors

Follow our Tweets

Trending

Please turn AdBlock off