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Sunday, Sep 26, 2021
Mugglehead Magazine
Cannabis & psychedelics industry news based in Vancouver, B.C.
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TGOD voluntarily delists from TSX to enter US market

The firm sold its investments in a California beverage maker in March

TGOD voluntarily delists from TSX to enter US market
Image via Deposit Photos

The Green Organic Dutchman Holdings Ltd. (TSX: TGOD) has voluntarily delisted from the Toronto Stock Exchange to join the Canadian Securities Exchange in a play to enter the United States market.

The company says it’s received final approval from the CSE to list its common shares. No action is required from stockholders, and the firm will be trading under the same symbol TGOD.

Delisting of common shares and warrants from the TSX is effective Friday, and the listing of the common shares and warrants to the CSE will be effective Monday, Sept. 13.

Shares on the OTCQX will be unaffected.

“We look forward to sharing our plans with investors as the opportunities advance,” CEO Sean Bovingdon said Friday in a statement.

“We will continue to identify partners that can leverage our organic expertise and utilize our intellectual property, while allowing for synergies to make agreements accretive in the short and long term.”

TGOD made a first move to enter the U.S. in May 2019, with a co-founding investment in Califormulations LLC to produce CBD beverages. But TGOD sold its investment for $1.2 million in March 2021.

Read more: TGOD posts $128M write-down in quarterly report

Read more: TGOD expands Canaccord financing deal

Organic cannabis producer TGOD owns HemPoland, its European subsidiary that distributes hemp CBD oil and CBD-infused topicals in Europe.

The CSE is the TSX’s primary competitor as a technology-focused Canadian exchange, offering simplified reporting requirements which makes the listing process easier and wait times for approvals shorter.

 

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