Organigram Holdings Inc. (NASDAQ: OGI) (TSX: OGI), the parent company of Organigram Inc., a leading licensed producer of cannabis, today announced its receipt of Health Canada approval, effective September 6, 2019, for the licensing of 17 additional cultivation rooms under the Cannabis Regulations. According to the update, the new cultivation rooms represent an increased target production capacity of approximately 15,000 kg per year. These are the company’s first 17 rooms licensed within its Phase 4B expansion and now brings its Moncton facility’s annualized licensed capacity to a target of 76,000 kg. “Once again, we are pleased to receive licensing approval consistent with our expectations and the streamlined process we have experienced to date,” Organigram CEO Greg Engel said in the news release. “Our Phase 4 facility expansion remains on schedule to meet growing demand and further contribute to efficiencies of scale.”
To view the full press release, visit http://ibn.fm/Rugrm
About Organigram Holdings Inc.
Organigram Holdings Inc. is a NASDAQ Global Select and TSX listed company whose wholly owned subsidiary, Organigram Inc., is a licensed producer of cannabis and cannabis-derived products in Canada. Organigram is focused on producing high-quality, indoor-grown cannabis for patients and adult recreational consumers in Canada, as well as developing international business partnerships to extend the company’s global footprint. Organigram has also developed a portfolio of legal adult use recreational cannabis brands including The Edison Cannabis Company, Ankr Organics, Trailer Park Buds and Trailblazer. Organigram’s primary facility is located in Moncton, New Brunswick and the company is regulated by the Cannabis Act and the Cannabis Regulations (Canada). For more information, visit the company’s website at www.Organigram.ca.
* The forward looking estimate of target production capacity, once fully operational, is based on a number of material factors and assumptions. Please see the Company’s latest MD&A.
NOTE TO INVESTORS: The latest news and updates relating to OGI are available in the company’s newsroom at http://ibn.fm/OGRMF
QualityStocksNewsBreaks provide a rapid summary of corporate news that catch the attention of QualityStocks. QualityStocksBreaks are designed to keep investors up to date on important and breaking news in the small-cap and micro-cap markets. Spanning all industries, including energy, entertainment, telecommunications, healthcare, retail and more, these news breaks deliver opportunities the investment community may have missed. Whether it is earnings results, mergers and acquisitions, or any other market-moving news, our news breaks keep you in the know. 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.