The dividing line between a bullish and bearish posture right now for Green Organic Dutchman Holdings Ltd (OTCMKTS:TGODF) is on a razor’s edge. The stock has been fighting to get above the major moving averages, and this week’s action will likely tell a defining story.
To further flesh out the story, the company just announced that it and the Hamilton City Council have together finalized and signed a settlement offer and that the Local Planning Appeal Tribunal approved the settlement at a meeting on May 2, 2019. According to the release, the facilities in Ancaster, Ontario will be capable of growing 17,500 kgs of premium certified organic cannabis annually.
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 and the Hamilton City Council have together finalized and signed a settlement offer and that the Local Planning Appeal Tribunal approved the settlement at a meeting on May 2, 2019.
Traders will note 4% tacked on to share pricing for the stock in the past week. What’s more, the name has witnessed a pop in interest, as transaction volume levels have recently pushed 12% above the average volume levels in play in this stock over the longer term.
“This completes this chapter of our journey,” said Brian Athaide, CEO of TGOD. “We look forward to growing and producing high-quality, certified organic cannabis right here in our home town. We are committed to the City and look forward to working with our neighbors, local businesses and the community.”
Currently trading at a market capitalization of $905M, TGODF has a significant war chest ($263.5M) of cash on the books, which stands against about $29.9M in total current liabilities. TGODF is pulling in trailing 12-month revenues of $1.9M. However, the company is running flat on the topline on a sequential quarterly basis. 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.