- TGOD recently received its second organic certification at its Hamilton facility
- Jefferies and Seaport Global have initiated coverage on the company’s stock
- TGOD’s Canada-listed shares climbed by more than 19 percent between February 28 and March 28, 2019
- Company has received initial approval to operate a cannabis greenhouse in Ancaster, Ontario
The Green Organic Dutchman Holdings Ltd. (TSX: TGOD) (OTCQX: TGODF) is now most definitely on the radar of the investment community. In February, NYC-based investment bank Jefferies initiated coverage of the stock with a ‘Buy’ recommendation (http://cnw.fm/7ZOHz). The company’s stock price has been climbing in the wake of this milestone. Coverage appears to have increased investor confidence, as has confirmation that the company continues to pursue its strategy of producing premium organic cannabis at low cost. TGOD has received organic certification from Pro-Cert Organic Systems Ltd. for its Hamilton facility, the second time it has done so.
Earlier, Seaport Global Securities’ Senior Equity Analyst initiated coverage on the company with a ‘Buy’ rating and a bullish price target, citing the company’s bright future in the consumer packaged goods (CPG) space.
Organic certification is a big deal for TGOD, big enough for the company to enshrine the concept in its name. Organic cultivation leads to a cleaner product – one free of synthetic fertilizers and pesticides, which can pervert natural growth processes. In May 2018, TGOD’s facility based in Ancaster, Ontario, received organic certification from Ecocert Canada, an internationally recognized world-leading organization in organic certification. Ecocert is one of the most discerning organic certification bodies, with standards that are based on employing natural and organic cultivation principles, including the use of ingredients derived from renewable resources and environmentally-friendly processes.
The new certification from Pro-Cert marks a doubling down by TGOD on the production of clean cannabis(http://cnw.fm/ciLR6). The certifier of organic, gluten-free and grass-fed products is one of North America’s premier certification bodies, with a client base of producers, processors and traders stretching across Canada and the United States. Pro-Cert’s certification programs are ISO 17065-compliant and accredited, providing global recognition and international access to the products that are certified. Certified brands and products carry the Pro-Cert logo.
“Organic” is a label that refers to methods of agricultural production and food processing designed to minimize disruption of the natural environment, encourage the health and vitality of the soil, promote humane animal management and preserve ecological integrity. To use the label, manufacturers and producers must typically comply with government regulations. For example, the U.S. Department of Agriculture has four distinct labeling categories for certified organic food products: ‘100% Organic’, ‘Organic’, ‘Made with Organic ***’ (http://cnw.fm/iL5gA) and ‘Specific Organic Ingredients’. Generally, organic standards prohibit the use of synthetic pesticides, synthetic fertilizers, synthetic hormones, genetic engineering, sewage sludge and irradiation during crop production. These standards also forbid artificial food colors, flavors and sweeteners, as well as many preservatives and processing aids.
Canadian consumers have stated a preference for organic cannabis. In a recent study conducted by Hill & Knowlton, over 50 percent of recreational consumers stated that it was important that their cannabis be organic. When the same question was posed to medical patients, that number increased to 63 percent.
In addition, TGOD recently received news that the Hamilton City Council has voted to approve the company’s settlement offer, allowing TGOD to operate its cannabis greenhouse in Ancaster, Ontario, upon confirmation of the settlement by the Local Planning Appeal Tribunal at a meeting scheduled for April 25, 2019. According to the press release (http://cnw.fm/M07Kn), the combined facilities in Ancaster, when complete, will be capable of growing 17,500 kgs of organic cannabis annually. The newly constructed, LEED-designed purpose-built greenhouse is expected to commence growing operations by June and employ up to 85 people. In a news release, Brian Athaide, CEO of TGOD, stated, “This is important to TGOD’s ability to generate considerable near-term revenue while the Company continues to approach its global planned output of 219,000 kgs.”
For more information, visit the company’s website at www.TGOD.ca
NOTE TO INVESTORS: The latest news and updates relating to TGODF are available in the company’s newsroom at http://cnw.fm/TGODF
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