logo-loader

Buds & Duds: Cannabis stocks perk up; TGOD shares jump as it lands organic certification in Poland

Last updated: 17:06 26 Apr 2019 EDT, First published: 11:10 26 Apr 2019 EDT

cannabis bud
TGOD announced that its wholly-owned subsidiary, HemPoland, has received organic certification from EKOGWARANCJA PTRE, the largest certification body supported by the Polish Ministry of Agriculture and Rural Development

Cannabis stocks trundled into Friday, perking up broadly across North American markets. 

The North American Marijuana Index, which tracks the top cannabis stocks in the US and Canada, was up 0.6% to 302.2 points by Friday's close. The Horizons Marijuana Life Sciences Index ETF was up 1.5% at C$21.22.

Buds

The Green Organic Dutchman Holdings Ltd (TSE:TGOD) (OTCMKTS:TGODF) announced encouraging news Friday that its wholly-owned subsidiary, HemPoland, has received organic certification from EKOGWARANCJA PTRE, the largest certification body supported by the Polish Ministry of Agriculture and Rural Development.

Shares closed up 1% at US$3.13 in New York and up 1% at C$4.23 in Canadian trading. 

"We are incredibly excited that HemPoland's facilities, production and processes have received organic certification within Europe," said Green Organic Dutchman CEO Brian Athaide in a statement. "This is a major point of differentiation that offers consumers a premium experience. We are proud to continue to deliver and execute on our global organic strategy."

READ: The Green Organic Dutchman’s European acquisition HemPoland receives Organic certification

The good times keep on rolling for Valens GroWorks Corporation (CSE:VGW) (OTCMKTS:VGWCF) on Friday, on the back of earlier gains this week.

The company released news this week that it had signed a multi-year extraction services agreement to provide cannabis and hemp extraction services to HEXO Corp. (TSE:HEXO) (NYSEAMERICAN:HEXO), a leading cannabis producer and consumer goods cannabis company. The company also reported strong first-quarter financial results.

Shares of Valens were up 3.6% at C$4.60 in Toronto, up 3.7% at US$3.42 in New York. 

HEXO shares were also up, up 8.5% at C$10.48 in Toronto, up 8.6% at US$7.79 in New York. 

READ: Mackie boosts price target on Valens GroWorks to C$6.75 after stellar 1Q financials

Shares of tech company EnWave Corp (CVE:ENW) were jumping on Friday, after it annoucned a $10 million strategic investment from Aurora Cannabis Inc (TSE:ACB) (NYSE:ACB). 

Shares of EnWave were up 14% at C$2.12 in Canadian trading, with Aurora shares dipping slightly, down 0.3% at US$9.04 in New York, down 0.6% at C$12.15 in Toronto. 

The companies also announced a royalty-bearing commercial license agreement, which would provide Aurora with exclusive rights to EnWave's patented Radiant Energy Vacuum drying technology, used for the production of cannabis materials in the European Union, aside from Portugal.

Duds

Other laggards on Friday included Aphria Inc (TSE:APHA) (NYSE:APHA), which was down 1.5% at C$10.15 in Toronto and down 1.4% at US$7.55 in New York. 

Shares of Liberty Health Sciences Inc (CSE:LHS) (OTCQX:LHSIF) also dropped on Friday, down 5.6% at C$0.84 in Toronto.

Contact Katie Lewis at katie@proactiveinvestors.com

Buds & Duds: Ontario's cannabis retail expansion plan gives cannabis stocks...

The North American Marijuana Index, which tracks the top cannabis stocks in the US and Canada, was 1.4% higher at 116.7 points. Elsewhere, the Horizons Marijuana Life Sciences Index ETF jumped 2.4% at C$9.55, while the OTCQX Cannabis index gained 0.6% to 434 points. Buds today are The Green...

on 13/12/19