We’re looking at The Green Organic Dutchman (TSX:TGOD), a cannabis penny stocks company that is in the green after an announcement yesterday!
But before we get into that, let’s look at the company and what it specializes in.
Cannabis Penny Stocks: The Green Organic Dutchman
According to its website, Ontario’s Green Organic Dutchman “produces high quality, organic cannabis with sustainable, all natural principles.”
Established in 2012, the company is classed as a research and development firm and, importantly, holds licenses under the ACMPR to cultivate medical cannabis.
It’s Looking at Jamaica!
The Green Organic Dutchman is in the midst of a 1,257,000 sq. ft. build of cultivation facilities in Ontario, Quebec, and Jamaica.
Jamaica is also where the company located its flagship legal cannabis retail store, which opened in July. This 4,000 sq ft dispensary is the first of several Jamaican outlets scheduled for 2018.
Aurora Cannabis Inc. (TSX:ACB) has a 17.5% stake in The Green Organic Dutchman shares. Aurora Cannabis is only one of Canada’s biggest marijuana global brands.
And now for the news that has boosted its shares price; this cannabis penny stocks company announced yesterday that it has signed an acquisition deal with HemPoland.
The agreement will see The Green Organic Dutchman own 100% of the company for a cost of $7.75 million USD in cash and 1,968,323 restricted Green Organic Dutchman shares.
HemPoland produces cannabis and organic CBD oils. It is Poland’s first private company to obtain a state license allowing it to grow and manufacture Cannabis Sativa.
The deal will allow The Green Organic Dutchman:
- to leverage HemPolands extensive distribution network
- to own its premium Cannabigold brand
- to learn and use its state-of-the-art hemp oil extraction technologies
- the acquisition also gives the company a pathway into the European market, further extending its footprint and selling potential.
Featured Image: The Green Organic Dutchman