The Green Organic Dutchman (TSX:TGOD) (OTCQX:TGODF) is making big movements recently in the cannabis space. TGOD's stock is up over 70% this month and is standing up to the big players in the industry. Today, we'll take a closer look at the company's latest announcement and why the stock is rising so rapidly.
TGOD Up After Denmark Announcement
This morning, the cannabis company announced that the Danish Medicines Agency has granted them an initial cannabis business authorization. The authorization wasn't given to The Green Organic Dutchman specifically but was given to Knud Jepsen, TGOD's joint venture partner. This new license allows TGOD to import starting materials to begin research and development related to the "creation of elite cannabis genetics."
"We are incredibly pleased with the quick receipt of this license from the Danish Medicines Agency," commented Frands Jepsen, Knud Jepsen's CEO. "The initial licence was received promptly after the submission, and the Danish Medicines Agency provided great transparency during the process. Through 80 years of trusted operations in Denmark, we've built excellent relationships with all parties involved and plan to work closely with the Development Scheme."
In addition to its expansion in Europe, The Green Organic Dutchman has been adding a number of game changers to its lead staff. Early this month, TGOD appointed a Chief Science Officer, as well two new directors. These company movements are what have likely driven the cannabis stock higher this past month.
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TGOD Stock Movement
According to Yahoo Finance, the cannabis stock is currently trading at $4.13 a share, up +$0.09 (+2.23%) on the TSX. On the OTCQX, TGODF is trading at $2.89 a share, down -$0.12 (-4.05%).
The Green Organic Dutchman operates as a cannabinoid-based research and development company in Mississauga, Ontario. The cannabis company produces organic dried cannabis, cannabis oils, edibles, fresh cannabis, cannabis seeds, and cannabis products. The Green Organic Dutchman was incorporated back in 2016.
What do you think about TGOD moving into Denmark?
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