Expected to IPO in March, The Green Organic Dutchman Holdings Ltd., a.k.a. TGOD, has been one of the most highly anticipated cannabis listings. Having raised millions in a handful of financing rounds from over 4,500 shareholders, the Canadian Licensed Producer is ramping up to be one of the biggest.
Established back in 2012, The Green Organic Dutchman Holdings Ltd. is licensed under the Access to Cannabis for Medical Purposes Regulations to cultivate medical cannabis in Canada. The company was granted its cultivation license in 2016 and subsequently its sales license in 2017. TGOD prides itself on growing high-quality, pesticide-free organic medical marijuana based on a sustainable, all-natural process, with all products being laboratory tested to ensure patients have access to a standardized, safe and consistent product.
For those who can't wait until March to get their hands on a piece, there's two public cannabis companies that offer investors early exposure to TGOD.
Planet Ventures Inc. (TSXV:PXI) (OTC:PNXPF)
This morning, Planet Ventures disclosed in a press release that the company owns 50,000 shares of TGOD which were purchased in 2017 at $0.50 CAD/share. While Planet Ventures' focus is on becoming a leading investment issuer in Blockchain technologies and cryptocurrencies, this early-round investment in TGOD has already proven to be a great investment.
With the recent cornerstone investment in TGOD from Aurora Cannabis, Zula Kropivnitski, Planet's Chief Financial Officer, believes that their thesis has been solidified.
Aurora Cannabis Inc. (TSX:ACB) (OTC:ACBFF)
Last week, Aurora Cannabis announced that they would be TGOD's cornerstone investor, by acquiring through a private placement a 17.62% interest on a non-diluted basis. Beyond that, Aurora will have the option to incrementally increase its ownership interest in TGOD to 51%.
Aside from the massive stake in TGOD, Aurora got even more involved with TGOD by grabbing the right to acquire 20% of TGOD's annual production of organic cannabis from both the Ancaster and Valleyfield facilities.
With each unit purchased for $1.65 CAD per unit (consisting of one common share and one half of one common share purchase warrant, exercisable at $3.00 per common share), Planet Ventures seems to have already made a paper profit.
To stay up to date with important developments in the cannabis industry, be sure to subscribe to one or more of our free email newsletters. Also, connect with The Daily Marijuana Observer on Facebook, Twitter, StockTwits and Instagram!