The Green Organic Dutchman entered a slide after announcing it could not secure capital to pay for the completion of two facilities.
NewsWire
- The company cited “changing market conditions,” and warned it may also have to revise construction schedules. CEO Brian Athaide discussed the situation on BNN.
Bloomberg, BNN - Insiders are calling the present environment one of “toxic financing”—particularly challenging to companies with less reserved capital.
MJ Biz Daily - BMO analysts dropped TGOD’s target price to $0.70 (from a peak of $8.25 in September 2018) and downgraded the company to “underperform.”
Twitter—Mark Rendell
Quick Hits
- Constellation Brands CFO David Klein became Canopy’s new chair, while former BC premier Christy Clark took a seat on the board.
Straight Cannabis, Cannabis Investing News - In the midst of a dispute over 1,115 lost acres of hemp production, US producer Go Farm Hemp filed a USD$1.9M federal lawsuit claiming Canopy had not made payments the company had agreed to make. Canopy countersued, accusing Go Farm Hemp of fraud in a plan to cheat Canopy.
The Deep Dive
