The Green Organic Dutchman Holdings Ltd. (the Company or TGOD) announced that it has entered into a definitive Agreement with Queen Genetics/Knud Jepsen A/S (Knud Jepsen) to establish two 50/50 joint ventures; the first for the purpose of producing commercial cannabis and cannabis oils (the Production JV) and the second for developing and patenting innovative and commercially valuable elite cannabis genetics (the Genetics JV). The parties will form both joint ventures in Denmark with a goal to expand the Production JV into future low-cost European jurisdictions. The Definitive Agreement outlines TGOD and Knud Jepsen's launch of a premium organic European bulk cannabinoid production platform where TGOD will have the exclusive right to all cannabis-related production from the JV, through a guaranteed offtake agreement at a pre-determined price relative to the production cost of the JV. Further, the Production JV will have exclusive access to all intellectual property including elite cannabis genetics developed within the Genetics JV. Knud Jepsen will be responsible for the day-to-day operations of the JV and TGOD will leverage Knud Jepsen's years of horticulture experience and science and R&D division to accelerate commercial operations in Denmark and throughout Europe. TGOD's differentiated approach to organic cannabinoid production combined with Knud Jepsen's large-scale commercial horticultural and globally integrated seed-to-sale operations will accelerate TGOD's global initiatives. The European bulk cannabinoid production platform paired with the Genetics JV will generate value-added formulations and products for established European and international sales and distribution channels. The first phase of the JV will consist of a Hinnerup, Denmark based 2,500 kg pilot program with the previously contemplated 25,000 kgs of production in Denmark, shifting to various lower cost production jurisdictions throughout Europe.