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The Green Organic Dutchman Holdings Ltd. (TSX:TGOD) (OTC:TGODF) disclosed Thursday its intentions to list its common shares and listed common share purchase warrants on the Canadian Securities Exchange.
The move follows the finalization of the company's first international commercial shipment consisting of cannabis flower and other extracts destined for the highly anticipated South African medical cannabis market.
Based in Toronto, the company has obtained conditional approval from the CSE to do so. In addition, it is pending approval from the Toronto Stock Exchange to voluntarily delist its common shares and warrants.
TGOD's leadership team believes that the debut on the CSE will allow the company and its security holders, to accelerate its plans to enter the U.S. market.
"We are motivated to advance our discussions past the initial phase and look forward to sharing our plans with investors as the opportunities progress," Sean Bovingdon, CEO and interim CFO of TGOD said. "We will look to partner with entities that can build on our halo and benefit from our experience and intellectual property while allowing for synergies to make any agreement accretive in the short term and long term. There are about 1,600 craft growers in the U.S. in the Clean Green Directory, which we feel could benefit from our CleanCraftTM growing process and capabilities."
The company recently reported its unaudited interim financial results Wednesday for the second quarter of fiscal 2021, revealing a 32% sequential uptick in revenue which amounted to $11.82 million.
TGOD's shares traded down 1.53% at $0.2312 per share in Wednesday's after-hours session.
Photo: Courtesy of CRYSTALWEED cannabis on Unsplash
