TGOD stock is recovering this morning after The Green Organic Dutchman (TSX:TGOD) (OTCQX:TGODF) received a cannabis research license from Health Canada.
The company revealed in its statement that this license will allow it to speed up the development of new products while reducing costs significantly. The Green Organic Dutchman explained that costs will be reduced because it will no longer have to depend on third parties.
This is a crucial development for TGOD stock. In its statement today, The Green Organic Dutchman revealed that it is going to use this license to get into the cannabis derivatives space in a big way. Cannabis 2.0 could prove to be a major opportunity for many companies, and a research license would allow TGOD to explore the possibility of making a wide range of products.
TGOD stock is up 6% at $0.575.
This license is another key development in the impressive number of key developments for the company in recent days. In December 2019, TGOD closed a deal with Maynbridge Capital, in which the Dutchman will get a credit facility of $42.7 million. Out of that, $27.7 million is going to be an 18-month term loan, while the rest will be awarded if the company manages to meet certain operational goals.
In January, The Green Organic Dutchman reshuffled its executive level. Csaba Reider relinquished his role as the President, and his responsibilities have been taken up by Brian Athaide, the CEO.
Mike Gibbons stepped down as the Vice President of Sales, and the VP of Medical Communications, Robert Cora, is going to take care of his responsibilities. The company completed this reorganization in order to cut costs. Investors may want to keep an eye on TGOD stock as The Green Organic Dutchman continues to make its operations more efficient.
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