- 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://nnw.fm/30Wgt). 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://nnw.fm/6qqZT). 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://nnw.fm/6gHgl).
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://nnw.fm/EOA3j). 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://nnw.fm/k7WAg).
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://nnw.fm/66BEu).
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://nnw.fm/OGRMF
NetworkNewsWire (NNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) NetworkNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
To receive SMS text alerts from NetworkNewsWire, text “STOCKS” to 77948 (U.S. Mobile Phones Only)
For more information please visit https://www.NetworkNewsWire.com