This Canadian cannabis company began trading publicly earlier this month, and Aurora Cannabis (ACB.TO), a $4.5 billion company owns a significant portion of its shares.
The Green Organic Dutchman (TGOD.TO, TGODF)
From Ian Wyatt’s Million Dollar Portfolio
Today, The Green Organic Dutchman (TGOD.TO) began trading.
The initial public offering raised $115 million at $3.65 per share. Shares opened for trading at $3.73 and trended higher throughout the day.
Aurora Cannabis (ACB.TO) invested in the previous private placement. The $4.5 billion cannabis company also participated in the IPO transaction. Aurora owns 17.6% TGOD shares on an undiluted basis. Plus, Aurora has the right to purchase up to 20% of TGOD’s annual cannabis production.
Based upon the current share price, TGOD has a market value of over $700 million. On a fully diluted basis, the company’s market capitalization is right around $1 billion. That makes the company one of the top 10 cannabis companies in Canada.
Shares of TGOD are currently only trading on the Toronto Stock Exchange. Investors with access to the Canadian markets could purchase shares immediately. The stock is not yet trading on a U.S. exchange. I’d expect shares will begin trading on the OTC or Pink Sheets within the coming days. That would make the stock accessible on most U.S. stock brokerage platforms.
In the Million Dollar Portfolio, I’ll wait to purchase the stock on a U.S. exchange (I know many of my members only trade U.S. stocks).
Shares are attractive below $5.00. I’ll plan to BUY shares once we see the stock listed here in the U.S. And I’ll be sure to email you an alert with details. Wall Street’s Best Investments Editor’s Notes: The stock is trading in the U.S. now; the symbol is TGODF.
Ian Wyatt, Ian Wyatt’s Million Dollar Portfolio, www.wyattresearch.com, May 2, 2018