- Organigram
has distribution in all 10 Canadian provinces and has now received
licensing approval from Health Canada for its Phase 4A expansion efforts,
which are expected to bring its annual production capacity to 61,000 kg
- The
company is well-positioned for Canada’s anticipated edibles and derivative
legalization, expected in October 2019, with expanding production
capacity, R&D and various strategic partnerships
- Phase
4 construction is on track for completion by the end of 2019, with an aim
of increasing target production capacity to 113,000 kg per year once fully
licensed and operational
Organigram Holdings Inc. (NASDAQ: OGI) (TSX.V: OGI) is
pursuing an aggressive expansion strategy as Canadian cannabis consumers look
forward to the country’s legalization of edibles and other derivatives that
could be found on retail shelves as early as mid-December 2019.
Organigram recently announced that it has received Health
Canada approval for the licensing of all of its Phase 4A buildout plans for total
licensed production capacity of 61,000 kg per year, according to the news
release (http://ibn.fm/jGAdq).
Once fully licensed and operational, the full Phase 4 expansion is expected to
bring the company’s annualized target production capacity to approximately
113,000 kg of dried flower equivalents.
“Organigram’s continued expansion reflects ongoing growth in
the cannabis marketplace, including increasing demand as new retail stores come
online in Alberta, Ontario, Quebec and British Columbia,” CEO Greg Engel said
in a news release. “The expansion of our facility and production capacity will
help ensure we have additional product for extraction for the launch of the
edibles and derivatives market before the end of 2019.”
Organigram has also received organic certification for its
recreational cannabis plants and growing processes from Pro-Cert, a North
American certification body that is accredited to provide certificates under
Canadian Organic Standards (http://ibn.fm/aEn5u).
As a licensed producer of medical and adult-use recreational cannabis with
production facilities and an R&D program in Moncton, New Brunswick,
Organigram is one of the most experienced organic producers in the industry.
“We know that there is a significant consumer demand for
organic cannabis products,” Engel stated. “We have been proud to offer our
medical customers access to organic strains and are excited to be able to
expand our offering to adult recreational consumers who value organic options.”
The company is also refurbishing part of its facility at its
Moncton Campus in order to pursue Phase 5 development of a cannabis edibles and
derivatives facility and additional extraction capacity. The company has
committed to invest C$15 million in a chocolate production line, with capacity
of up to four million kilograms of chocolate cannabis edibles per year (http://ibn.fm/fjjEz).
Organigram has secured several key partnerships and is
developing a diverse product line to capture a large portion of the vape pen
segment, which is estimated to account for 23 percent of the recreational
cannabis market in Canada. Organigram is one of only four Canadian suppliers
for the Pax Era premium oil vaporizer and will offer Edison Cannabis
Co.-branded PAX Era pods to all 10 of its provincial partners to achieve coast
to coast distribution (http://ibn.fm/VTzk8).
Organigram also announced, through the Edison Cannabis Co. brand, that it will
be the exclusive Canadian supplier of Feather Company’s design-patented
disposable vaporizer and 5/10 thread cartridges. This agreement reflects both
companies’ commitment to transformative thinking and unique customer
experiences (http://ibn.fm/UPth7).
Most recently, the company shared plans to launch a variety
of dried powder formulation beverages early 2020 in Canada. These products will
leverage the company’s proprietary nano-emulsion technology, developed based on
analytical testing, to create products with an initial onset of 10-15 minutes.
At the same time, the company is also actively seeking a strategic partner with
proven experience in beverage product development to take advantage of the
liquid formulation that it has developed (http://ibn.fm/8JeN6).
For more information, visit the company’s website at www.Organigram.ca
NOTE TO INVESTORS: The latest news and updates
relating to OGI are available in the company’s newsroom at http://ibn.fm/OGRMF
About QualityStocks
QualityStocks is
committed to connecting subscribers with companies that have huge potential to
succeed in the short and long-term future. It is part of our mission statement
to help the investment community discover emerging companies that offer
excellent growth potential. We offer several ways for investors to learn more
about investing in these companies as well as find and evaluate them.
QualityStocks (QS)
Scottsdale, Arizona
www.QualityStocks.com
480.374.1336 Office
Editor@QualityStocks.com
Scottsdale, Arizona
www.QualityStocks.com
480.374.1336 Office
Editor@QualityStocks.com
Please see full terms of use and disclaimers on the
QualityStocks website applicable to all content provided by QS, wherever
published or re-republished: http://www.qualitystocks.net/disclaimer.php
No comments:
Post a Comment