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

2 minutes reading time (452 words)

Also on the move were EnWave Corp, Valens, Aurora, HEXO, Aphria and Liberty Health Sciences

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

() (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 () (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 () (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 Corp () were jumping on Friday, after it annoucned a $10 million strategic investment from () (NYSE:ACB). 

Shares of 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 '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 Inc () (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 Inc () (OTCQX:LHSIF) also dropped on Friday, down 5.6% at C$0.84 in Toronto.

Contact Katie Lewis at [email protected]


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