Another interesting potential turnaround story in the cannabis patch is Green Organic Dutchman Holdings Ltd (OTCMKTS:TGODF). The company just provided a detailed update on its Jamaican partner Epican Medicinals Ltd. Among the notes released, TGODF pointed out that it leased a 100-acre parcel of land in Trelawny Parish, with land clearance underway to increase production with a 2,000 kg pilot towards a 14,000 kg operation and noted that the 14,000 kg is expected to utilize approximately 5% of the property with the potential for expansion as demand dictates, and also stated that it has accelerated the productive capacity of this plot while building inventory in advance of a planned retail expansion.

According to the release, “In June 2018, TGOD purchased 49.18% interest in Epican, a fully integrated Jamaican cannabis company with cultivation, extraction, manufacturing and retail distribution licenses. Significant progress has been made towards expanding cultivation, opening additional retail dispensaries, and establishing a leadership position in Jamaica’s robust medical cannabis market.”

Green Organic Dutchman Holdings Ltd (OTCMKTS:TGODF) is a research & development company licensed under the Access to Cannabis for Medical Purposes Regulations (“ACMPR”) to cultivate medical cannabis.

The Company carries out its principal activities producing cannabis from its facilities in Ancaster, Ont., pursuant to the provisions of the ACMPR and the Controlled Drugs and Substances Act (Canada) and its regulations.

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The company grows high quality, organic cannabis with sustainable, all-natural principles. TGOD’s products are laboratory tested to ensure patients have access to a standardized, safe and consistent product. TGOD has a funded capacity of 116,000 kg and is building 970,000 sq. ft. of cultivation facilities in Ontario and Quebec.

The company has developed a strategic partnership with Aurora Cannabis Inc. (TSX:ACB) whereby Aurora has invested approximately C$78.1 million for an approximate 17.5% stake in TGOD. In addition, the Company has raised approximately C$290 million dollars and has over 5,000 shareholders. TGOD’s Common Shares and warrants issued under the indenture dated November 1, 2017 trade on the TSX under the symbol “TGOD” and “TGOD.WT”, respectively.

According to company materials, “The Green Organic Dutchman Holdings Ltd. (TSX:TGOD) is a publicly traded, premium global organic cannabis company, with operations focused on medical cannabis markets in Canada, Europe, the Caribbean and Latin America, as well as the Canadian adult-use market. The Company grows high quality, organic cannabis with sustainable, all-natural principles. TGOD’s products are laboratory tested to ensure patients have access to a standardized, safe and consistent product. TGOD has a funded capacity of 170,000 kgs and is building 1,382,000 sq. ft. of cultivation facilities across Ontario, Quebec and Jamaica.”

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As noted above, TGODF just provided a detailed update on its Jamaican partner Epican Medicinals Ltd.

Traders will note 3% added to share values of the listing over the past month of action. What’s more, the stock has registered increased average transaction volume recently, with the past month seeing 47% above the average volume levels in play in this stock over the longer term.

“We have made incredible progress in Jamaica over the past 8 months,” commented Brian Athaide, Director and CEO of TGOD. “We plan to continue opening stores throughout the country, increasing productive capacity, and expanding our leadership in Jamaica. As Trelawny comes online in phases, we will accelerate production to meet growing demand within Jamaica and export product through TGOD’s distribution channels in Mexico and beyond.”

Earning a current market cap value of $785.38M, TGODF has a significant war chest ($257.6M) of cash on the books, which is balanced by about $15.1M in total current liabilities. The company is pre-revenue at this point. We will update the story again soon as developments transpire. Sign-up for continuing coverage on shares of $TGODF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in $TGODF, either long or short, and we have not been compensated for this article.