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Tuesday, November 24, 2020

The Green Rolls in for Green Organic Dutchman Holdings Ltd (OTCMKTS:TGODF)

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Shares of Green Organic Dutchman Holdings Ltd (OTCMKTS:TGODF) continue to pull back in recent days. The stock has been tremendously potent since trading began back in May of this year well under $2.83/share. We have seen action up as high as $7.50 since then, and still see prices over 100% above the stock’s initial levels.

To help further drive the story, the company just announced that it has entered into an agreement with a syndicate of underwriters led by Canaccord Genuity Corp. pursuant to which the Underwriters have agreed to purchase, on a bought deal basis pursuant to the filing of a short form prospectus, an aggregate of 10,950,000 units at a price of $6.85 per Unit for aggregate gross proceeds to the Company of $75,007,500.

Green Organic Dutchman Holdings Ltd (OTCMKTS:TGODF) is a research & development company licensed under the Access to Cannabis for Medical Purposes Regulations (“ACMPR”) to cultivate medical cannabis.

The Company carries out its principal activities producing cannabis from its facilities in Ancaster, Ont., pursuant to the provisions of the ACMPR and the Controlled Drugs and Substances Act (Canada) and its regulations.

The Company grows high quality, organic cannabis with sustainable, all-natural principles. TGOD’s products are laboratory tested to ensure patients have access to a standardized, safe and consistent product. TGOD has a funded capacity of 116,000 kg and is building 970,000 sq. ft. of cultivation facilities in Ontario and Quebec.

The Company has developed a strategic partnership with Aurora Cannabis Inc. (TSX:ACB) whereby Aurora has invested approximately C$78.1 million for an approximate 17.5% stake in TGOD. In addition, the Company has raised approximately C$290 million dollars and has over 5,000 shareholders. TGOD’s Common Shares and warrants issued under the indenture dated November 1, 2017 trade on the TSX under the symbol “TGOD” and “TGOD.WT”, respectively.

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As noted above, TGODF shares have been pulling back a bit after very strong performance over recent months. The company continues to build a leadership position in terms of raw capacity and strategic investments have moved in as a result, including the big one by Aurora Cannabis (OTC:ACBFF).

The company also just announced, as discussed above, that it has entered into an agreement with a syndicate of underwriters led by Canaccord Genuity Corp. pursuant to which the Underwriters have agreed to purchase, on a bought deal basis pursuant to the filing of a short form prospectus, an aggregate of 10,950,000 units at a price of $6.85 per Unit for aggregate gross proceeds to the Company of $75,007,500.

Traders will note 21% during the past month in terms of shareholder gains in the listing. In addition, the name has registered increased average transaction volume recently, with the past month seeing nearly 250% over what the stock has registered over the longer term.

According to the release, “The Company has granted the Underwriter an option (the “Over-Allotment Option”), to purchase up to an additional 1,642,500 Units at a price of C$6.85 per Unit, exercisable at any time, for a period of 30 days after and including the Closing Date. The Over-Allotment Option is exercisable to acquire Units, Common Shares and/or Warrants (or any combination thereof) at the discretion of the Underwriter.”

At this time, carrying a capital value in the market of $1.32B, TGODF has a significant war chest ($261.8M) of cash on the books, which is balanced by about $14M in total current liabilities. The company is pre-revenue at this point. We will update the story again soon as further details emerge. Sign-up for continuing coverage on shares of $TGODF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in $TGODF, either long or short, and we have not been compensated for this article.

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