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The Next Phase for Green Organic Dutchman Holdings Ltd (OTCMKTS:TGODF)?

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As the action improves for marijuana stocks, it looks like Green Organic Dutchman Holdings Ltd (OTCMKTS:TGODF) is the latest example of new burst of “momo fomo” in the space. To further flesh out the story, the company just announced that it has entered into an agreement with Canaccord Genuity Corp.

According to the release, the Underwriter has agreed to purchase, on a bought deal basis pursuant to the filing of a short form prospectus, an aggregate of 37,500,000 units at a price of $0.40 per Unit for aggregate gross proceeds to the Company of approximately C$15 million. Each Unit shall consist of one common share and one common share purchase warrant of the Company. Each Warrant shall be exercisable to acquire one common share of the Company for a period of 48 months from closing of the transaction at an exercise price of C$0.50 per Warrant.

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 has entered into an agreement with Canaccord Genuity Corp.

Traders will note 78% during the past month in terms of shareholder gains in the name. Moreover, the listing has seen interest climb, with an increase in recent trading volume of greater than 310% above the average volume levels in play in this stock over the longer term.

According to the release, “The Company has granted the Underwriter an option to purchase up to an additional 5,625,000  Units at a price of C$0.40 per Unit, exercisable at any time, for a period of 30 days after and including the Closing Date, which would result in additional proceeds of approximately $2.25 million. The Over-Allotment Option is exercisable to acquire Units, Common Shares and/or Warrants (or any combination thereof) at the discretion of the Underwriter.”

Now commanding a market cap of $119M, TGODF has a significant war chest ($36.1M) of cash on the books, which compares with about $53.2M in total current liabilities. TGODF is pulling in trailing 12-month revenues of $11M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 66.6%. We will update the story again soon as further details emerge. 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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