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  • Renewed Canadian Credit Facility, which will mature on June 30, 2023
  • Lender to provide additional $1 million in working capital, to be added to the term loan component in October 2021.
  • Right-sized the overall available facility from $30 million to $25 million, reducing expected non-utilization fees.

TORONTO, September 30, 2021 - The Green Organic Dutchman Holdings Ltd. (the "Company" or "TGOD") (CSE: TGOD) (US-OTC: TGODF), a leading producer of premium certified organically grown cannabis, is pleased announce that it has agreed with its remaining Canadian lender, which has security of the Company’s main operating facility and certain working capital, to renew its credit facility (the “Credit Facility”) and extend the maturity date to June 30, 2023.  

As part of the renewal, the Company’s overall Credit Facility will be reduced from $30 million to $25 million total, within which the term loan portion will be increased to $17 million from $16 million. The revolving component will represent the $8 million balance of the total. The Credit Facility is secured primarily by the Company’s Ancaster hybrid greenhouse facility and trade accounts receivable. The Company will pay a 2% commitment fee in Common Shares. In exchange, the Company has agreed to a financial covenant requiring achievement of positive EBITDA on a monthly basis by March 31, 2022.  All other terms for the facility will remain the same as before.

“We are very pleased to be able to renew and right-size our Credit Facility which shows a demonstration of continued support from our lender” said Sean Bovingdon, TGOD’s CEO and Interim CFO. “The renewed maturity date, coupled with some expected cash savings on fees, provides a significant improvement on the Company’s working capital position which enables us to continue to grow our business and move towards profitability” added Bovingdon.


About The Green Organic Dutchman Holdings Ltd.

The Green Organic Dutchman Holdings Ltd. (CSE: TGOD) (US‐OTC: TGODF) is a premium certified organically grown cannabis company focused on the health and wellness market.  Its organic cannabis is cultivated in living soil, as nature intended.  The Company is committed to cultivating a better tomorrow by producing its products responsibly, with less waste and impact on the environment. Its Canadian facilities have been built to LEED certification standards and its products are sold in recyclable packaging.  In Canada, TGOD sells dried flower and oil, and recently launched a series of next‐generation cannabis products such as hash, vapes, organic teas and dissolvable powders.  Through its European subsidiary, HemPoland, the Company also distributes premium hemp CBD oil and CBD-infused topicals in Europe. By leveraging science and technology, TGOD harnesses the power of nature from seed to sale.

TGOD's Common Shares and Warrants issued under the indentures dated December 19, 2019, June 12, 2020, October 23, 2020 and December 10, 2020 trade on the CSE under the symbol "TGOD", "TGOD.WS", "TGOD.WR", “TGOD.WA”, and “TGOD.WB” respectively. TGOD’s Common Shares trade in the US on the OTCQX under the symbol “TGODF”. For more information on The Green Organic Dutchman Holdings Ltd., please visit




Media Relations:
Karine Cousineau

Investor Relations:
Shane Dungey
(403) 389-9911


Cautionary Statements

This news release includes statements containing certain "forwardlooking information" within the meaning of applicable securities law ("forwardlooking statements"). Forward looking statements in this release include, but are not limited to, statements with respect to the terms of the Company’s credit facilities, statements about achieving positive EBITDA and/or profitability and statements about achieving growth. Forwardlooking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", “should”, "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 forwardlooking statements throughout this news release. Forwardlooking 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 (including market conditions) and other factors that could cause actual events or results to differ materially from those projected in the forwardlooking statements, including those risk factors described in the Company’s most recent Annual Information Form filed with Canadian securities regulators and available on the Company’s issuer profile on SEDAR at Although the Company believes that the assumptions and factors used in preparing the forward-looking information or forward-looking statements in this news release are reasonable, undue reliance should not be placed on such information and no assurance can be given that such events will occur in the disclosed time frames or at all. The forward-looking information and forward-looking statements included in this news release are made as of the date of this news release. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forwardlooking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

Neither the CSE nor the CSE’s Regulation Services Provider (as that term is defined in the policies of CSE) accept responsibility for the adequacy or accuracy of this release.