TGOD stock is gaining momentum in the early session on Friday after The Green Organic Dutchman (TSX:TGOD) (OTCQX:TGODF) reached a cannabis supply agreement with Alberta Gaming, Liquor & Cannabis.
TGOD Stock Jumps on Important Deal
The Green Organic Dutchman has been one of the most successful cannabis companies to have been established in Canada and the Toronto-based company has assiduously created partnerships that will help it in becoming a bigger player in the industry in the near future.
In a significant development, the company has now managed to ink a supply arrangement Alberta Gaming, Liquor and Cannabis. Green Organic Dutchman will now be supplying its TGOD branded premium cannabis to Alberta Gaming, Liquor and Cannabis and become one of the major players in the state.
"Alberta is an important market for us as we continue to expand our distribution channels across Canada," said Brian Athaide, CEO of TGOD. "With our production facilities in Hamilton, Ontario and Valleyfield, Quebec coming online in phases, we are thrilled to start distributing TGOD's premium certified organic cannabis to AGLC."
TGOD stock is trading 2% higher at $4.12 on the CSE, while TGODF stock is up 2.50% at $3.07 on the OTC market.
TGOD Recent Developments
However, that is not all. Earlier this month, Green Organic Dutchman also announced its formal entry into the United States market with an investment in Califormulations LLC, which is engaged in manufacturing CBD infused beverages. According to many estimates, the CBD market in the US could be worth $20 billion in the future and hence this investment could prove to be a highly lucrative one.
Amidst all this important news with regards to the company, top analysts have also taken notice of the company’s business and in a new development; Jeffries has stated that the company is primed for major growth. According to Jeffries’ analysts, the stock could soar by as much as 40%.
In addition to signing a supply arrangement with Ontario, the company has also entered into a strategic partnership with Philippe Dandurand Wines' Velvet Management. However, it is important to point out that Green Organic Dutchman is now making great strides in expanding its international presence as well and has launched joint ventures in Denmark and Mexico. It has also acquired a 49% stake in Epican, a Jamaican cannabis company.
TGOD stock is of the notable gainers so far this year with a jump of 60%.
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