The Green Organic Dutchman Holdings Ltd. (TSX: TGOD) (US: TGODF) announced that it has renewed its Health Canada licenses for the company’s facility in Ancaster, Ontario. The stock closed at the highs of the week on Friday.

TGOD has renewed the licenses until August 2022. The licenses authorize the company to cultivate, process and sell cannabis from its Ancaster site.

“From day one, the entire team at TGOD placed a strong focus on ethics and compliance. These core values have been paramount to our success,” TGOD CEO Brian Athaide stated. “Our team continues to work diligently as we ramp up production and execute our business plan.”

TGOD is in the process of completing its third building at its hybrid greenhouse in Ancaster. Completion is expected by the end of the month, bringing the facility to a total size of 166,000 square feet with an annual production capacity of 17,500 kgs.

TGOD is also seeking an eGMP certification to allow for global exports, as laws and regulations permit.

Investors were impressed with the license renewal announcement, with the company’s stock moving up nearly 8% on Friday. Over the past five-day period, the stock has moved up over 5%.