Marijuana penny stocks are rebounding this morning, as most saw share losses towards the end of last week.

Today, we’ll be checking in on The Green Organic Dutchman (TSX:TGOD) (OTCQX:TGODF) and Lotus Ventures (CSE:J) (OTC:LTTSF).

TGOD Signs Hemp Deal with Valens GroWorks

This morning, The Green Organic Dutchman announced its multi-year extraction services contract with Valens GroWorks Corp. (CSE:VGW) (OTCQB:VGWCF). The new agreement is initially set for two years.

In this time, Valens will process, extract, and purify TGOD’s cannabis and hemp biomass. In exchange, The Green Organic Dutchman will supply Valens with significant quantities of organic cannabis and hemp. This partnership aims to create quality organic hemp-based CBD products, for an industry that is rapidly growing in North America.

At the time of writing, the two marijuana penny stocks in the deal are benefiting from the announcement. On the TSX, TGOD is trading at $4.31 a share, up +$0.05 (+1.17%). On the OTCQX, TGODF is trading at $3.25 a share, up +$0.07 (+2.51%).

Valens GroWorks is currently trading at $2.93 a share, up +$0.23 (+8.52%) on the CSE. On the OTC, VGWCF is trading at $2.18 a share, up +$0.14 (+7.08%).

Lotus Ventures Receives Health Canada License

Lotus Ventures is a marijuana penny stock that is receiving a lot of attention in the cannabis space today! This morning, the cannabis company announced that it had obtained a standard cultivation license from Health Canada. This new license gives Lotus the ability to begin expansion at its 22,500 square-foot facilities in Armstrong, British Columbia.

Lotus Ventures is a streaming partner with Auxly Cannabis Group Inc. (TSXV:XLY). Lotus may be new, but its partnership with Auxly already gives it some backing. If you’re looking for a few marijuana penny stocks, Lotus should be placed on your watchlist.

At the time of writing, Lotus Ventures is trading at $0.42 a share on the CSE, up +$0.02 (+5.00%).