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.”
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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.
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