Following a move into Jamaica with a retail storefront opening, The Green Organic Dutchman Holdings (TSX: TGOD; US: TGODF) announced another international expansion by entering the German CBD market.
The expansion is taking place through The Green Organic Dutchman’s (TGOD) subsidiary HemPoland, which was just granted organic certification for European markets in late April.
Through a newly signed agreement, HemPoland has now teamed up with Mediakos UG haftungsbeschraenkt to distribute CannabiGold branded CBD products to German pharmacies. Those products are now available both on physical store shelves and through online pharmacy platforms in the country.
Mediakos UG has a strong connection to online pharmacy sales, having spun off from German digital pharmacy company Aponeo. Discussing the newly-struck partnership, Mediakos UG Chief Executive Officer Nikolas Primbas commented:
The German market for CBD and medical cannabis only recently opened up, with domestic cultivation of marijuana delayed repeatedly over the past year. Those delays finally ended last month as 13 companies were awarded licenses to cultivate and distribute cannabis, including Canadian licensed producers Aphria (NYSE: APHA; TSE: APH) and Aurora (NYSE: ACB; TSE: ACB).
While primarily known for cannabis cultivation in Canada, The Green Organic Dutchman has been ramping up global organic production efforts as CBD mania continues to increase in nations around the world.
In March, TGOD signed a multi-year extraction deal with Valens GroWorks Corp. (CSE: VGW; OTC: VGWCF). Under the terms of that deal, The Green Organic Dutchman will supply Valens with 80,000 kg of hemp and cannabis biomass over two years to be converted into distillates for vaporizer oils, edible capsules, and topical skin products.
On the U.S. side of operations, TGOD also just announced a strategic investment into CBD beverage company Califormulations LLC. That investment will see Califormulations developing formulas and assisting production for other companies, as well as eventually producing CBD infused drinks directly to stock shelves.