TGOD stock climbs after The Green Organic Dutchman (TSX:TGOD) (OTCQX:TGODF) signs an equipment purchase agreement with EnWave Corporation (TSXV:ENW).
TGOD Stock Moves into Green Due to Equipment Agreement
EnWave Corporation, a Vancouver, British Columbia-based company, said it’s providing The Green Organic Dutchman with three 120 kW REV machines, each equipped with Robotic Arms. All three REV (Radiant Energy Vacuum) machines will also have Optional Support Equipment.
For those who don’t know, TGOD is a publicly traded cannabis company with operations in Canada, Latin America, and Europe. It is also involved in the Canadian adult-use market. TGOD stock trades on the Toronto Stock Exchange, with TGODF trading on the OTCQX Marketplace.
What are the REV Machines For?
TGOD inquired about the additional machines so that the global organic cannabis company can expand its drying capacity in Canada. By acquiring these machines, The Green Organic Dutchman’s total royalty-bearing cannabis processing capacity will increase significantly. According to sources, combined, it comes to a total of 420kW of REV™ machinery.
Important Things to Come
The Canadian cannabis market is becoming more competitive with every passing day; therefore, increasing its cannabis processing capacity is likely to bring positives for TGOD. And after releasing disappointing financial results this month, this might be what the company needs.
What do you think?
TGOD Stock: The Month of March
Not only does this agreement with TGOD validate REV™ machinery, but it has also allowed for another positive trading day for TGOD stock.
Last Tuesday (March 19th), TGOD stock finished the day up nearly 20% (16.97%, to be exact). Two weeks prior, TGOD stock closed the day up nearly 4%. And while the stock isn’t near those levels today, TGOD stock is, as of 2:45 PM, up 0.20%. The trading price is $4.89.
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