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Thursday, Feb 22, 2024
Mugglehead Magazine
Alternative investment news based in Vancouver, B.C.

Investment Ideas

TGOD expands to new provinces, stock rebounds

The Green Organic Dutchman is expanding distribution of its premium organic cannabis to 3 new provinces

The Green Organic Dutchman TGOD
TGOD wins organic farmer of the year award

Things are looking op again for Canada’s most Netherlandish cannabis company.

Shares in The Green Organic Dutchman Holdings Ltd (TSX: TGOD) climbed 12.3 per cent over Tuesday’s regular trading hours, rebounding slightly after a two-year low of $0.62.

The gains were realized after the premium organic cultivator released news that it would be distributing to three new provinces — Alberta, Manitoba and Nova Scotia — thereby gaining access to an additional 340 stores outside its Ontario stomping grounds.

TGOD was one of several cannabis companies to report losses in the last quarter, watching their valuations crumble in the process.

But tickers across the pot boards are greener today, possibly supporting analysts’ conclusions that industry numbers had reached the bottom. If they’re right, it could be a good time to buy.

In the release, TGOD VP of sales Mike Gibbons said as his company continues to scale up operations, they are now in a position to begin distributing their premium organic cannabis products to additional provincial markets.

“Retailers are eager to get access to larger quantities of premium, high-quality dried flower, a market segment currently undersupplied. We are on track to distribute nationally in Q1, 2020,” he said.

The company also announced two new medium-to-high THC strains are coming to its certifited-organic product offerings: Discover (Chocolope) and Tranquility (Zombie Kush).

And as part of its mission to educate consumers about the benefits of organic cannabis, TGOD is rolling out what it calls the first organic certification program for budtenders.

“This national education program is being delivered in-person at every retail location distributing TGOD products; over 150 budtenders have already been certified in Ontario alone,” the release stated.

“To complement the program, TGOD is also hosting in-store activations across the country, elevating the retail experience of Canadian consumers by helping them understand the benefits of buying a premium organic cannabis product.”

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