The big upside momentum continues to assert itself for shares of Discovery Gold Corp (OTCMKTS:DCGD). This is a very interesting story: a recent reverse merger into the cannabis space that represents the entrance of a true industry force into the publicly traded cannabis game – GRN Funds is now more or less in the game as GRN Holding Corp., complete with a ton of experience in the space at a high level. To add to that narrative, the company just announced it has beefed up its Strategic Advisory Board with Cannabis and Hemp Industry leader Aaron Pelley, who will help with legal and contract review.
According to the release, “Aaron Pelley has played an active role in Cannabis Law for over a decade. He helped build the foundation for legal protections in medical cannabis law and is a leading advocate for the cannabis business. He has also been invited to speak at Legal Education Seminars and Cannabis Conferences throughout the U.S. and has been repeatedly named a “Rising Star” by Super Lawyers and a Top 100 Trial Lawyer by the National Trial Lawyers.”
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 it has added Cannabis and Hemp Industry leader Aaron Pelley a member to its Strategic Advisory Board. This continues the trend of building a top-tier team right out of the gates. GRN appears to be a new and important force in the industry – ie, these guys came to play for real.
If you’re long this stock, then you’re liking how the stock has responded to the announcement. DCGD shares have been moving higher over the past week overall, pushing about 49% to the upside on above-average trading volume.
“Mr. Pelley is a great addition to the team. He understands complex multi-state legal matters, his legal acumen is impressive and his focus points will help the company in specific areas.” 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.