Today, the Green Organic Dutchman (TGODF) (TGOD) announced that it had signed a cannabis supply agreement with the Ontario Cannabis Retail Corporation, which operates the Ontario Cannabis Store, the only legal recreational cannabis retailer in Ontario.
The store will also supply cannabis products to 25 other licensed private retail stores, which are scheduled to become operational on April 1.
According to PR Newswire, Brian Athaide, the director and CEO of TGOD, said, “Ontario has the largest population in Canada and is a critical component to TGOD’s national recreational rollout. This represents the first of many provincial supply agreements planned for our premium organic product as our domestic facilities near completion and production increases throughout 2019.”
TGOD has started 2019 on a positive note, with its stock returning 39% YTD (year-to-date). As of February 7, the company was trading at 3.42 Canadian dollars, 180.3% higher than its 52-week low of 1.22 Canadian dollars and 66.6% lower than its 52-week high of 10.24 Canadian dollars.
In comparison, TGOD’s peers MedMen Enterprises (MMNFF) (MMEN), Acreage Holdings (ACRGF) (ACRG), and iAnthus Capital Holdings (ITHUF) (IAN) have returned 5.7%, 18.4%, and 34.5%, respectively, YTD. The Horizons Marijuana Life Sciences Index ETF (HMMJ), which tracks the North American Medical Marijuana Index, has returned 45.6% YTD.
For more of the latest on the cannabis sector, read Curaleaf Is Up ~40% in 2019: Is There More Upside?