The Green Organic Dutchman Holdings Ltd. (TSX:TGOD), one of the Canadian marijuana stocks, said its Quebec facility has received its organic certification from Pro-Cert
SmallCapPower | June 28, 2019: The Green Organic Dutchman Holdings Ltd. (TSX:TGOD), one of the Canadian cannabis stocks, Thursday announced that its flagship Valleyfield, Quebec facility has received its organic certification from Pro-Cert, an internationally recognized leader in organic certification.
The Company said its Valleyfield facility is expected to be the world’s largest organic cannabis facility at more than 1.3 million square feet. This Pro-Cert recognition adds another certification to the Company’s portfolio, in addition to TGOD’s already certified organic growing facilities in Canada and Europe.
Pro-Cert’s certification programs are ISO 17065 compliant and accredited, providing global recognition and international access to the products and brands they certify. The certification process includes validation of inputs, production methods and preparation procedures according to Canadian organic product regulation.
“It’s exciting to reach new milestones as we begin commercial production. Growing certified organic cannabis at scale is a highly complex process which has taken time, great care and extensive research to refine. Each of our facilities goes through a robust certification process, in line with the high standards we have set, ensuring operational excellence at all stages,” said Green Organic Dutchman CEO Brian Athaide in a statement.
“The proprietary methods our team has developed leverage the benefits of growing in living soil and guarantees the organic integrity of the products throughout the entire production chain.”
Green Organic Dutchman Holdings is considered a premium global organic cannabis company. It has operations focused on medical cannabis markets in Canada, Europe, the Caribbean, and Latin America, as well as the Canadian adult-use market. It produces organic cannabis products, including organic dried cannabis, cannabis oils & edibles, fresh cannabis, and seeds for medical applications. The Company grows high-quality, certified organic cannabis with sustainable, all-natural principles. TGOD puts all its products through laboratory tests to ensure patients have access to a premium, consistent, and safe product. Green Organic Dutchman also has a fully-funded planned capacity of 219,000 kgs and is building 1,643,600 square feet of cultivation and processing facilities in Canada, Jamaica, and Denmark.
In our article dated June 14, 2019, we estimate that TGOD trades at a 2.5x 2020E EV/Revenue and 9.1x 2020E, EV/EBITDA multiples, compared with Canadian majors, which trade at a consensus average of 9.3x and 34.0x multiples, respectively. Additionally, Green Organic Dutchman has one of the lowest EV/fully funded production capacities at 3.5x, compared with 18.1x the average of its peer group.
Shares of Green Organic Dutchman have climbed more than 20% year to date to its current price of $3.22.
Disclosure: Neither the author nor his family own shares in the company mentioned above.
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