The Green Organic Dutchman Holdings Ltd (TSE:TGOD) (OTCMKTS:TGODF), the organic cannabis group, has reached another milestone, namely a research licence from Health Canada.
The license will reduce costs and accelerate the firm's development of new products by eliminating reliance on third parties, it told investors in a statement.
The company also said it wants to leverage the new license to complete additional premium cannabis 2.0 products, which are expected to launch later this year.
The firm has two Canadian facilities, from where it wants to launch a series of next products such as organic teas, infusers and vapes.
In Europe, via subsidiary HemPoland, it distributes premium hemp CBD oil and CBD-infused topicals.
"As consumers become increasingly aware that not all cannabis products are created equal, we want to ensure that TGOD continues to go to market with consumables that bear a seal of premium quality that they can trust," said Brian Athaide, chief executive at TGOD.
"By leveraging the expertise of our in-house science and marketing teams, we are able to optimize costs and accelerate our speed to market.
"In parallel, we are also layering on additional quality control measures ensuring a high level of consistency across all our product lines."
Shares in Toronto nudged up 1.85% to C$0.55 on the day. In New York they gained 3.68% to US$0.43.
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