Green Organic Dutchman Receives the Cannabis Oil Okay

The Green Organic Dutchman Holdings Ltd. (TSX:TGOD), one of the Canadian marijuana stocks, said it has received its oil sales license for its Hamilton facility

SmallCapPower | April 26, 2019: The Green Organic Dutchman Holdings Ltd. (TSX:TGOD), one of the Canadian cannabis stocks, Monday announced that it has received its oil sales license from Health Canada for its Hamilton, Ontario facility. The sales license comes a year after the facility received its production permit in April 2018. In addition to offering certified organic cannabis oils to medical patients, the license will assist TGOD in transforming its organic raw material into a variety of higher-margin cannabis products, such as beverages and edibles, once regulations permit. Following the announcement, shares of TGOD surged 6.6% to close at C$4.18 on Thursday.

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TGOD is also working towards achieving European Union GMP certification for its oil extraction facility in Hamilton that will allow the Company to sell its certified organic cannabis oils to international markets.

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Green Organic Dutchman Chief Science Officer Dr. Rav Kumar said, “Oil is predominantly a medical product, and patients want clean, organic efficacy with safe and easy delivery. Through our certified organic product and process we know we are providing patients the best possible experience.”

Green Organic Dutchman is an organic cannabis company focused on medical cannabis in Canada, Europe, the Caribbean and Latin America, as well as the Canadian recreational market. The Company has a planned capacity of 219,000 kgs and is building 1,643,600 sq.ft. of cultivation and processing facilities across Ontario, Quebec, Jamaica and Denmark.

Green Organic Dutchman stock currently trades at a market capitalization of C$1.2 billion with a price-to-book multiple of 2.7x.

Disclosure: Neither the author nor his family own shares in the company mentioned above.

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