TGOD Updated Expansion Progressing

The Green Organic Dutchman [stock_market_widget type="inline" template="generic" color="default" assets="TGOD.TO" markup="(TSX: {symbol} {currency_symbol}{price} ({change_pct}))" api="yf"] has made a series of announcements over the last week regarding retail and greenhouse expansions.

Last week TGOD announced they received inaugural purchase orders from Alberta, Manitoba, and Nova Scotia. The product will be shipped this month, giving the company access to an additional 340 stores outside of Ontario.

They will also be initiating an organic cannabis budtender certification program to help educate budtenders about the benefits of organic consumption so they can better serve consumers.

This program should help drive sales in retail outlets given the low availability of organic products and the steeper price point of what does exist.

As of this morning, they announced that they have received their inaugural purchase order from British Columbia, increasing their total store access by another 163 retail locations for a total of 527.

The biggest news, however, is the receipt of their first license amendment for the first two zones at the Valleyfield hybrid greenhouse.

As part of their updated expansion plans, TGOD has limited the Valleyfield expansion to a total of 6 zones, expected to yield 10,000 kg in 2020. So this amendment is substantial relative to the new plan.

In the near-term, investors can look forward to news about the completion of their processing facility (support building) at Ancaster, the first harvest from the hybrid greenhouse at Ancaster, and the completion of the remaining zones at Valleyfield.

From an Ancaster update video released today, investors can see the production capacity is progressing. Rooms at the hybrid facility are now planted or in the process of being planted with first harvests expected before the end of December.

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TGOD was a market awareness client of Capital 10X.

The opinions provided in this article are those of the author and do not constitute investment advice. Readers should assume that the author and/or employees of Capital 10X hold positions in the company or companies mentioned in the article. For more information, please see our Content Disclaimer.

Evan Veryard
Evan Veryard has a Bachelor's of Chemical Engineering from McGill University and a MaSc. of Chemical Engineering from RMC. He has over 6 years of research experience focusing on industrial materials. Address: 682 Indian Road, Toronto, Ontario, M6P 2C9. Phone: 416-721-8257.
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