As momentum returns to the cannabis space, Green Organic Dutchman Holdings Ltd (OTCMKTS:TGODF) has proven to be an interesting comeback play, with shares ripping higher by about 100% since the December lows were carved out. To further flesh out the story, the company just announced that the Danish Medicines Agency, the Government body responsible for issuing cannabis related licenses, has granted an initial cannabis business authorization to TGOD’s joint venture production partner Knud Jepsen.
According to the release, “This licence will allow TGOD’s JV partner Kund Jepsen to immediately begin importation of starting materials and to begin research and development related to the creation of elite cannabis genetics. Per the terms of the recently completed definitive agreement, Knud Jepsen will submit a request to the Danish Medicines Agency for the assignment of this licence to the TGOD-Knud Jepsen Danish joint venture, a process that is already underway and expected to be completed within the coming weeks.”
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.
According to company materials, “The Green Organic Dutchman Holdings Ltd. (TSX:TGOD) is a publicly traded, premium global organic cannabis company, with operations focused on medical cannabis markets in Canada, Europe, the Caribbean and Latin America, as well as the Canadian adult-use market. 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 170,000 kgs and is building 1,382,000 sq. ft. of cultivation facilities across Ontario, Quebec and Jamaica.”
Find out when $TGODF reaches critical levels. Subscribe to OracleDispatch.com Right Now by entering your Email in the box below.
As noted above, TGODF just announced that the Danish Medicines Agency, the Government body responsible for issuing cannabis related licenses, has granted an initial cannabis business authorization to TGOD’s joint venture production partner Knud Jepsen.
The chart shows 51% piled on for shareholders of the company during the trailing month. What’s more, the company has seen a growing influx of trading interest, with the stock’s recent average trading volume running just under 130% above the average volume levels in play in this stock over the longer term.
“We are incredibly pleased with the quick receipt of this license from the Danish Medicines Agency,” commented Frands Jepsen, Knud Jepsen’s CEO. “The initial licence was received promptly after the submission, and the Danish Medicines Agency provided great transparency during the process. Through 80 years of trusted operations in Denmark, we’ve built excellent relationships with all parties involved and plan to work closely with the Development Scheme.”
Currently trading at a market capitalization of $734.7M, TGODF has a significant war chest ($257.6M) of cash on the books, which is balanced by about $15.1M in total current liabilities. The company is pre-revenue at this point. As more color becomes clear on the name, we will review the situation and update our take. 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.