About a month ago, we profiled Discovery Gold Corp (OTCMKTS:DCGD) as an up-and-coming name in the cannabis space that most traders hadn’t caught onto yet given its recent reverse merger move to enter the space. It seemed extra interesting because the new emerging play looked to have some firepower in terms of the people involved, as we will cover below. In any case, kaboom. The stock is roaring higher and deserves a look.
To help further flesh out the story, the company just announced a corporate name change to GRN Holding Corporation. In addition, the company also put out word that it added Chris Irish and Kyle Hockenstein to its management team. According to the release, Mr. Irish will hold the position of Controller and Mr. Hockenstein will hold the position of Vice President of Operations. “Mr. Irish is a senior business leader with 16 years of experience in all facets of accounting, financial analysis, controllership, and will be very helpful in keeping all fiscal aspects of the company in place,” commented Justin Costello, CEO of the company.
Discovery Gold Corp (OTCMKTS:DCGD) bills itself now as a reverse merger play with a cannabis theme, taking on the DBA of GRN Holding Corporation. This new identity emerged in the clear public light after the company announced that it had added venture and financing industry veteran Justin Costello to its Strategic Advisory Board. In this capacity, Mr. Costello is expected to help guide Cannabis Global Inc.’s strategic planning, investments and partnerships in the rapidly growing cannabis industry.
Mr. Costello is the President and CEO of Discovery Gold Corporation (OTC PINK: DCGD) of Seattle, Washington, a fast growing, publicly traded new entrant into the cannabis marketplace. He also manages and is the CEO of GRN Funds, LLC, a private equity and hedge fund that secures banking resources for small to medium businesses and ancillaries.
“We are excited to have Justin Costello join the Cannabis Global Inc. team. His expertise in strategic planning and venture capital will help our growing company to identify potential acquisition partners and the best sources of capital to allow us to meet our aggressive growth plans in not only the industry hemp sector, but also within other areas of the cannabis industry,” commented Arman Tabatabaei, CEO of the Company. “We welcome Justin to Cannabis Global family.”
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As noted above, DCGD just announced a corporate name change to GRN Holding Corporation and further announced that it added Chris Irish and Kyle Hockenstein to its management team.
The chart shows 88% tacked on to share pricing for the name in the past month. Moreover, the company has witnessed a pop in interest, as transaction volume levels have recently pushed 48% above the average volume levels in play in this stock over the longer term.
Regarding the appointment to the position, Mr. Irish stated, “I am excited to join GRN Holding Corporation and am looking forward to leveraging my experience and background in finance to help this company thrive.”
“Prior to his role as Vice President at GRN Holdings, Mr. Hockenstein founded and operated multiple recreational cannabis and industrial hemp organizations. He will be a vital employee to help guide the company with his deep knowledge and understanding of the cannabis and hemp industry”, commented Justin Costello, CEO of the company.
At this time, carrying a capital value in the market of $215M, DCGD has virtually no cash on the books, which stands against about $171K in total current liabilities. One should also note that debt has been growing over recent quarters. The company is pre-revenue at this point. We will update the story again as soon as further details emerge. Sign-up for continuing coverage on shares of $DCGD 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 $DCGD, either long or short, and we have not been compensated for this article.