Shares of The Green Organic Dutchman Ltd. (TSX:TGOD), one of the most popular "pot stocks" today, are moving higher following news that the company has struck a deal with Stillwater Brands for its ingredient technology known as Ripple SC (soluble cannabinoids).
The license agreement gives TGOD rights to Ripple SC and other proprietary food and beverage technologies of Stillwater in Canada and certain other regions outside the U.S.
Ripple SC is a suite of products designed for the purpose of simply and easily infusing cannabinoids into food and beverage products with a pharmacokinetic profile that includes absorption into the bloodstream within 15 minutes that lasts up to four hours. The technology also avoids a pitfall of some other products that need to use added fat, sugar or artificial flavors to hide the natural bitterness of cannabinoids.
Ripple SC is already being used in several consumer products, namely the consumer variant marketed as Ripple Dissolvables that is touted as one of the fastest growing edible products in Colorado. It's also used in other top-shelf brands, including Stillwater Tea and Whitewater Tea.
Per the pact, TGOD can begin marketing efforts for these products outside the U.S. where permitted by law once they achieve the green light from the respective regulators. Management says it also plans to work intensely to develop new formulations using Ripple SC as the base water-soluble cannabinoid input.
Stillwater CEO Justin Singer said in today's news release, "We believe that soluble cannabinoids and the consumer benefits they enable represent the future of functional foods," going on to explain that TGOD is a perfect partner to help meet the goal of penetrating international markets because of its focus on organic, high quality products.
Investors are applauding the partnership, sending shares of TGOD to a new all-time high Tuesday morning. Shares of TGOD came public early this month in one of the most heavily anticipated IPO's of the year so far. Shares traded as high at $4.25 on the IPO day, a level exceeded today for the first time.
Shares are currently up 6.8% at $4.38 and have printed as high as $4.43 in morning action.
