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Canadian cannabis producer The Green Organic Dutchman Holdings Ltd. (TSX:TGOD) (OTCQX:TGODF) revealed its preliminary unaudited financial results Thursday for the second quarter of 2021.
Based in Toronto, the TGOD reported that it expects to generate $11.7 million in preliminary unaudited gross revenue for the period, representing a sequential increase of 30% and a 143% growth compared to the second quarter of 2020.
The company attributes the anticipated results to Canadian operations and sales growth, which accounted for $10.3 million of the second quarter of 2021 gross revenue total. That's a 55% spike compared to the prior period.
"The relaunch of our premium flower with the implementation of CleanCraft is being well received by the market," Sean Bovingdon, CEO and Interim CFO of TGOD, disclosed. "Combined with the national rollout of Organic Sugar Bush and the reopening of retail stores in key markets, it has contributed to a strong second quarter."
TGOD enriched its portfolio of premium strains in February with the addition of Organic Sugar Bush, a high-THC Sativa variety.
Concurrently, TGOD announced that Gayle Duncan had joined its senior leadership team as chief growth officer and will assist with the enhancement of existing sales and marketing capabilities as well as the improvement of brand awareness across North America.
Duncan brings three decades of experience in launching, building and managing businesses, brands and teams having held executive positions at agencies such as Consumer Impact Marketing and Maritz Loyalty Marketing. She also consulted with several consumer brands,
including IMAX, Bell Canada and Green Gruff.
"With the addition of Gayle, a seasoned marketer, and proven sales growth enabler, I have even greater confidence in our ability to continue to deliver against our objectives," Bovingdon added.
Photo Source: CNW Group/The Green Organic Dutchman Holdings Ltd.
