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.
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.
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.
To read our full disclosure, please click on the button below:
The Content contained on this page (including any facts, views, opinions, recommendations, description of, or references to, products or securities) made available by SmallCapPower/Ubika Research is for information purposes only and is not tailored to the needs or circumstances of any particular person. Any mention of a particular security is merely a general discussion of the merits and risks associated there with and is not to be used or construed as an offer to sell, a solicitation of an offer to buy, or an endorsement, recommendation, or sponsorship of any entity or security by SmallCapPower/Ubika Research. The Reader should apply his/her own judgment in making any use of any Content, including, without limitation, the use of any information contained therein as the basis for any conclusions. The Reader bears responsibility for his/her own investment research and decisions. Before making any investment decision, it is strongly recommended that you seek outside advice from a qualified investment advisor. SmallCapPower/Ubika Research does not provide or guarantee any financial, legal, tax, or accounting advice or advice regarding the suitability, profitability, or potential value of any particular investment, security, or information source. Ubika and/or its affiliates and/or their respective officers, directors or employees may from time to time acquire, hold or sell securities and/or commodities and/or commodity futures contracts in certain underlying companies mentioned in this site and which may also be clients of Ubika’s affiliates. In such instances, Ubika and/or its affiliates and/or their respective officers, directors or employees will use all reasonable efforts to avoid engaging in activities that would lead to conflicts of interest and Ubika and/or its affiliates will use all reasonable efforts to comply with conflicts of interest disclosures and regulations to minimize the conflict.