Sunday, November 18News That Matters

Green Organic Dutchman's stock surges after receipt of medical cannabis sales license


Shares of Green Organic Dutchman Holdings Ltd.

TGODF, -2.84%

TGOD, -3.35%

surged 5.3% in premarket trade Tuesday, after the organic medical cannabis company said it received its medical sales license from Health Canada. The license is in accordance with the Access to Cannabis for Medical Purposes Regulations for the Canada-based company’s Ancaster, Ontario facility. "As we prepare for our Founders Club product launch in January 2019, this is a critical step in our path to becoming the global leading organic cannabis brand," said Chief Executive Brian Athaide. "We have been perfecting our organic grow methodology in Ancaster and are prepared for the Q1 launch to medical patients across Canada followed by the launch in adult use markets in Q2." The stock has gained 0.5% over the past three months, while the ETFMG Alternative Harvest ETF

MJ, -1.07%

has rallied 52.5% and the S&P 500

SPX, +1.44%

has slipped 1.7%.

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