The Green Organic Dutchman Holdings Ltd. (TSX:TGOD) (OTCQX:TGODF) announced on Wednesday that it has filed an application to list its shares on the NASDAQ market. TGOD stock is currently trading at $2.50 CAD, up 4.5% after this morning’s announcement.
The company’s move to a major US exchange will allow for the facilitation of further international investment and to stabilize share price. TGOD stock has been seen as a trader’s dream over recent months due to its significant price fluctuations. The listing of TGOD stock on the NASDAQ will be subject to numerous regulatory requirements, such as the registration of the common shares under the US Exchange Act.
TGOD stock will continue to trade on Toronto’s TSX Exchange and will use the same ticker on the NASDAQ exchange once the company is successfully uplisted. Brian Athaide, CEO of The Green Organic Dutchman, said of this morning’s announcement “This is an important step in the growth of TGOD, one that will broaden our investor base and increase access for international investors as we build the leading global organic cannabis brand. Our team remains focused on executing our business plan and creating value for our shareholders.”
TGOD is a premium global organic cannabis company, which focuses on the medicinal cannabis markets in Canada, Europe, Latin America, and the Caribbean. The Green Organic Dutchman also has operations in organic hemp CBD oil products in Canada, which it also distributes in Europe through its HemPoland subsidiary. Currently, the company is building over 1.6 million square feet of cultivation and processing facilities in Ontario, Quebec, Jamaica, and Denmark with a planned capacity of 219,000 kilograms.
During the first quarter of 2019, the company reported around $2.4 million CAD in sales, which was a 28% increase from the previous quarter; however, this was largely driven by an increase in sales of CBD products in Europe following the company’s acquisition of HemPoland.
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