TORONTO, July 02, 2018 (GLOBE NEWSWIRE) -- The Green Organic Dutchman Holdings Ltd. (the “Company” or “TGOD”)
(TSX:TGOD) (US:TGODF) reports the resignation of CEO, Co-Chairman & Director, Mr. Robert Anderson, effective immediately, due to
health concerns.
To ensure an orderly transition and continued rapid execution on the Company’s business strategy, the Board has
appointed Mr. Brian Athaide, TGOD’s current CFO, to the position of CEO. Mr. Athaide has 29 years of global executive
experience including CFO and Executive Vice President, Human Resources and Information Technology of Andrew Peller Limited, the
largest publicly traded wine and craft alcohol producer in Canada. Mr. Athaide’s focus on value creation helped enable the
stock price to increase to 400% in only three years. Previous to Andrew Peller Limited, Mr. Athaide spent 25 years at Proctor &
Gamble Co., moving through progressively more senior positions across eight countries, culminating as the Finance Director and CFO
of the multi-billion-dollar consumer products business across Russia, Ukraine and Central Asian markets.
Mr. Athaide has significant consumer products experience in North America, Europe, Asia, and Latin America
leading acquisition integrations, developing corporate strategy, managing foreign exchange devaluations, banking crises, economic
and political turmoil and high market volatility. Mr. Athaide managed to navigate all of these experiences decisively and
effectively, finding new and innovative ways to achieve success, even in challenging market conditions.
The Board has also appointed Julia Golubovskaya, Vice-President, Finance as interim CFO. Ms. Golubovskaya has
over 18 years of experience in consumer products, having worked with Proctor & Gamble in Canada, the USA and Russia. She has led
multinational and multicultural teams in diverse financial fields across various categories and geographies. Ms. Golubovskaya has a
proven ability to lead and adapt to change in challenging environments while surpassing financial goals, organizational engagement
and productivity targets.
Mr. Anderson will continue to be available to assist the Company as required. The Board of Directors, management
team, and all TGOD staff wish to thank Mr. Anderson for his tireless efforts and valuable contributions to the rapid and successful
growth of the Company and wish him a successful recovery. Once Mr. Anderson has fully recovered, TGOD would welcome his return
in any suitable capacity.
“I feel privileged to take on this new role as CEO and ensure the Company delivers on its aggressive yet
de-risked business plan. TGOD has assembled an incredible leadership team with a diverse skill set across all aspects of our
business including finance, M&A, sales, international markets, branding, marketing and operations. The operational and capital
market aspects of the business are in exceptional hands and we will continue to execute on Rob’s vision of becoming the largest,
most valuable organic cannabis brand in the world,” said CEO Brian Athaide.
Jeff Scott, currently serving as Co-Chair, will assume the role of Chairman of the Board.
On Behalf of the Board of Directors,
The Green Organic Dutchman Holdings Ltd.
Jeff Scott
Chairman
ABOUT THE GREEN ORGANIC DUTCHMAN HOLDINGS LTD.
The Green Organic Dutchman Holdings Ltd. is a research & development company licensed under the Access
to Cannabis for Medical Purposes Regulations (“ACMPR”) to cultivate medical cannabis. The Company carries out its principal
activities producing cannabis from its facilities in Ancaster, Ont., pursuant to the provisions of the ACMPR and
the Controlled Drugs and Substances Act (Canada) and its regulations.
The Company grows high quality, organic cannabis with sustainable, all-natural principles. TGOD's products
are laboratory tested to ensure patients have access to a standardized, safe and consistent product. TGOD has a funded
capacity of 116,000 kg and is building 970,000 sq. ft. of cultivation facilities in Ontario, Quebec and Jamaica.
The Company has developed a strategic partnership with Aurora Cannabis Inc. (TSX:ACB) whereby Aurora has
invested approximately C$78.1 million for an approximate 17.5% stake in TGOD. In addition, the Company has raised approximately
C$315 million dollars and has over 20,000 shareholders.
TGOD’s Common Shares and warrants issued under the indenture dated November 1, 2017 trade on the TSX under the
symbol "TGOD" and “TGOD.WT”, respectively.
CONTACT INFORMATION
Investor Relations
Email: invest@tgod.ca
Phone: 1 (416) 900-7621
www.tgod.ca
Forward-Looking Information Cautionary Statement
This news release includes statements containing certain "forward-looking information" within the meaning of applicable securities
law ("forward-looking statements"). Forward looking statements in this release includes, but is not limited to, statements about
the future legalization of recreational cannabis and cannabis-infused products in Canada, statements about future research,
development and innovation by the Company, statements about the offering of any particular products by the Company and statements
regarding the future performance of the Company. Forward-looking statements are frequently characterized by words such as "plan",
"continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other
similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions.
Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements
throughout this news release. Forward-looking statements are based on the opinions and estimates of management at the date the
statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or
results to differ materially from those projected in the forward-looking statements. The Company is under no obligation, and
expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new
information, future events or otherwise, except as expressly required by applicable law.
Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of Toronto Stock
Exchange) accept responsibility for the adequacy or accuracy of this release.
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