Selling pressure from Aurora Looks like Aurora Cannabis has been causing a lot of selling pressure on TGOD. I'm not sure if there is more to come but once this dries up, TGOD should move up with all these shares in new hands. Remember that Aurora made a large investment in TGOD and are probably taking profits to help their earnings look better.
Filing
Date | Transaction
Date | Insider Name | Ownership
Type | Securities | Nature of transaction | Volume or Value | Price |
| Oct 18/18 | Oct 16/18 | Aurora Cannabis Inc | Direct Ownership | Common Shares | 10 - Disposition in the public market | -727,400 | $5.58 |
| Oct 14/18 | Oct 11/18 | Aurora Cannabis Inc | Direct Ownership | Common Shares | 10 - Disposition in the public market | -2,012,800 | $5.52 |
| Oct 14/18 | Oct 10/18 | Aurora Cannabis Inc | Direct Ownership | Common Shares | 10 - Disposition in the public market | -3,043,000 | $5.87 |
As per May 9, 2018 TGOD news release:
“We are extremely pleased with the markets’ support of our IPO, which is the largest to date on the TSX in the cannabis space. The additional funds will support the Company’s plans of becoming the world’s leading brand of organic cannabis. The further investments by Aurora Cannabis Inc. (“Aurora”) (TSX:ACB) in both the IPO and the Over-Allotment Option bring Aurora’s total investment in the Company to $78,145,562 and further validate TGOD’s business plan and value. The partnership with Aurora has been excellent with great cooperation across all departments of our organizations. We could not ask for a better partner,” said Robert Anderson, TGOD’s Co-Chairman and CEO.
Each Over-Allotment Unit consists of one common share (a “Common Share”) and one-half of one common share purchase warrant (each whole warrant being a “Warrant”). Each Warrant is exercisable into one Common Share at the price of $7.00 per Common Share until May 2, 2020, subject to an acceleration right whereby the Company may provide written notice to the registered holders of the Warrants (a “Warrant Acceleration Notice”) that the expiry time of the Warrants shall be accelerated to a date which is 30 days after the date of such Warrant Acceleration Notice, if, at any time, the volume-weighted average trading price for the Common Shares is equal to or greater than $9.00 for any ten (10) consecutive trading day period."