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Sunday, September 26, 2021

The New Case for Green Organic Dutchman Holdings Ltd (OTCMKTS:TGODF)

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Shares of Green Organic Dutchman Holdings Ltd (OTCMKTS:TGODF) continue to battle with some important technical levels, but we see an interesting case for the stock if its most recent pullback lows are not violated in coming days. The battle to hold the recently retaken 200-day MA as support is now underway. To make matters more interesting, the company just announced that it is pleased that Hamilton City Council has voted to approve the Company’s settlement offer, to allow TGOD to operate its cannabis greenhouse in Ancaster, Ontario upon confirmation of the settlement by the Local Planning Appeal Tribunal at a meeting scheduled for April 25, 2019.

“This is tremendous news for our Company and for the city of Hamilton,” said Brian Athaide, CEO and Director of TGOD. “We are a global company that has its roots in Hamilton, and we are looking forward to expanding our production of high-quality, organic cannabis right here in our home town. This is important to TGOD’s ability to generate considerable near-term revenue while the Company continues to approach its global planned output of 219,000 kgs.”

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.”

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As noted above, TGODF just announced that it is pleased that Hamilton City Council has voted to approve the Company’s settlement offer, to allow TGOD to operate its cannabis greenhouse in Ancaster, Ontario upon confirmation of the settlement by the Local Planning Appeal Tribunal at a meeting scheduled for April 25, 2019.

Recent action has seen 10% tacked on to share pricing for the listing in the past month. Moreover, the stock has registered increased average transaction volume recently, with the past month seeing 70% beyond what we have been seeing over the larger time frame.

“We are committed to this city and we look forward to working with Council on achieving its goal of creating a Life Sciences Centre of Excellence in Hamilton. It has been a challenging year,” Athaide said, “but throughout it all, we have been encouraged by the hundreds of expressions of support from our neighbours, local businesses and the community.”

Earning a current market cap value of $990.66M, TGODF has a significant war chest ($263.5M) of cash on the books, which must be weighed relative to about $29.9M in total current liabilities. TGODF is pulling in trailing 12-month revenues of $1.9M. However, the company is seeing recent declines on the top-line on a sequential quarterly basis, with revenues falling at 0% as of its latest reporting period. This may be a very interesting story and we will look forward to updating it again soon. 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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