The Green Organic Dutchman Completes Strategic Acquisition of Galaxie Brands Corporation


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 to announce that further to its news release dated November 1, 2021, it has completed the acquisition (the “Transaction“) of all of the issued and outstanding shares (the “Galaxie Shares“) of Galaxie Brands Corporation (“Galaxie“). “This is an exciting day for both TGOD’s and Galaxie’s teams. As per our strategic plan, the completion of the Transaction allows TGOD to accelerate domestic growth. With Galaxie’s innovation and operating capabilities, scale and efficiencies, the combined entity will build stronger revenues and financial performance.” said Sean Bovingdon, CEO and interim CFO of TGOD. Following closing of the Transaction, TGOD will diversify its brand portfolio with the addition of Galaxie’s unique pre-rolls, vapes, solventless products, and its  flagship brand, Cruuzy. TGOD will also benefit from improved regional distribution across Canada and gain further exposure to the valuable edible category through Galaxie’s exclusive joint venture in Canada with a major edible brand in the United States. Galaxie’s 26,000 sq. ft. Ontario production facility (the “Galaxie Facility“) is fully licensed by Health Canada and operational with 2.0 production capabilities. The Galaxie Facility is expected to provide TGOD with additional cultivation, value added processing, packaging, extraction, and product development capabilities. Galaxie will become a wholly-owned subsidiary of TGOD and will remain the licence holder for the Galaxie Facility. The Transaction is expected to achieve cost synergies through combining activities in supply chain and distribution, research, and product development, as well as cost reductions in sales, general and administrative activities, and general overhead. Galaxie’s strategic U.S. connections and existing industry relationships are expected to accelerate TGOD’s entry into the U.S. market, with the growing TGOD organic brand platform being positioned for future expansion across the border. “I am proud of what we have built…

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Source : The Green Organic Dutchman Completes Strategic Acquisition of Galaxie Brands Corporation

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