It’s a key question for traders in the OTC cannabis patch: is Green Organic Dutchman Holdings Ltd (OTCMKTS:TGODF) starting to come out of its recent technical gulley on a mission to retake its major moving averages and break back to new year-to-date highs? At this point, recent action is highly promising, with shares of the stock popping above the 50-day MA and running toward an encounter with the 200-day MA just above at the $3.45 level. To make matters more interesting, the company just announced that its wholly owned subsidiary, HemPoland, has received organic certification from EKOGWARANCJA PTRE.
According to the release, “this organic certification is provided by the Polish Center for Accreditation on authority from the Minister of Agriculture and Rural Development. HemPoland’s facilities, production processes and product offerings are now certified organic.”
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 its wholly owned subsidiary, HemPoland, has received organic certification from EKOGWARANCJA PTRE.
Traders will note 7% tacked on to share pricing for the name in the past week. In addition, the stock has registered increased average transaction volume recently, with the past month seeing 17% over what the stock has registered over the longer term.
“We are incredibly excited that HemPoland’s facilities, production and processes have received organic certification within Europe,” stated Brian Athaide, CEO of TGOD. “This is a major point of differentiation that offers consumers a premium experience. We are proud to continue to deliver and execute on our global organic strategy.”
At this time, carrying a capital value in the market of $930.75M, TGODF has a significant war chest ($263.5M) of cash on the books, which compares with 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 is an exciting story, and we look forward to a follow-up chapter as events transpire. 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.