Origin Agritech Ltd
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*Nasdaq FSI: *Deficient: Issuer Failed to Meet NASDAQ Continued Listing Requirements

Consumer Staples : Food Products | Small Cap Value
Based in China
Company profile

Origin Agritech Limited is a holding company. The Company, along with its subsidiaries, is an agricultural biotechnology company. The Company’s segment is Agri-biotech and product development. In addition, State Harvest has built a capacity for breeding technologies, including marker-assisted breeding and doubled haploids technologies. The Company’s activities include the specialization in the research and development.

Closing Price
$3.26
Day's Change
-0.226 (-6.48%)
Bid
--
Ask
--
B/A Size
--
Day's High
3.61
Day's Low
3.12
Volume
(Heavy Day)
Volume:
82,838

10-day average volume:
19,151
82,838

Green Organic Dutchman shares slide 4.7% after company says to cut financing needs

10:13 am ET October 18, 2019 (MarketWatch)
Print

The Green Organic Dutchman Holdings Ltd. said Friday it is planning to reduce its financing needs while maintaining a path to profitability, as it struggles with a slower legal market conversion than originally expected. The Toronto-based cannabis company said earlier in October that it was reviewing financing options for the funds needed to complete construction of faciities in Ancaster, Ontario and Valleyfield, Quebec, after the financing on offer was prohibitively expensive. The company has now hired an adviser and plans to scale back its selling, general and administrative expenses and adopt a new construction and operating plan. The Ancaster plant is now complete and the the Quebec facility will be built in smaller phases. The company estimates that it needs C$70 million ($53 million) to C$80 million between now and the end of the second quarter of 2020 to carry out the plan. "With the current Canadian legal market being smaller than initially anticipated, mainly due to a slow rollout of retail locations in key provinces, we believe that our revised plan will allow TGOD to right size its production to capture the organic segment, while maintaining optionality to quickly accelerate and expand as more retail locations begin to open," Chief Executive Brian Athaide said in a statement. U.S.-listed shares fell 4.7% on the news and are down 44% in 2019. The ETFMG Alternative Harvest ETF (MJ) has fallen 19% in 2019, while the S&P 500 has gained 19%.

-Ciara Linnane; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

October 18, 2019 10:13 ET (14:13 GMT)

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