- Partnership with PAX builds on Organigram's commitment to both
quality and a strong leadership position with next generation
cannabis products
- Organigram plans to offer Edison Cannabis Co. brand PAX Era
pods coast to coast, through the Company's distribution
arrangements in all of Canada's
ten provinces
- Estimates suggest vape pens currently represent the largest
segment of edibles and derivative based products at approximately
23 per cent of U.S. sales based on form factori
MONCTON, NB, June 7, 2019 /CNW/ – Organigram Holdings Inc.
(NASDAQ: OGI) (TSXV: OGI), the parent company of Organigram Inc.
(the "Company" or "Organigram"), a leading licensed producer of
cannabis and extract-based products, is pleased to announce it has
been selected as one of the four Canadian launch partners of
PAX Era, the premium oil vaporizer created by PAX Labs, Inc., a
leading consumer technology brand in the design and development of
premium vaporizers for dry flower and concentrates, when
concentrates become legal in Canada later this year.
Much like Organigram's own Edison Cannabis Co. brand, the PAX
portfolio features disruptive, industry-leading technology, on
course to redefine the experience of vaping in Canada – and around the world.
"Cannabis 2.0 – the next generation of legal, adult use cannabis
products – represents a world of opportunity," says Greg Engel. "Innovative partnerships with
exceptional companies like PAX mean our own product offering grows
and our customers have access to cutting-edge technology and
cannabis experiences."
The agreement with PAX reflects Organigram's own strategic
commitment to growth and leadership through technology-driven
innovation.
Organigram will produce and fill Edison Cannabis Company-branded
pods specifically for the PAX Era platform. The pods will be filled
onsite at Organigram's Moncton
facility at the Company's Phase 5 refurbishment.
Organigram plans to work with and offer Edison Cannabis
Co.-branded PAX Era pods to all 10 of its provincial partners to
achieve coast to coast distribution. All sales and distribution
will be subject to and in accordance with legislation related to
extractable products in Canada.
Organigram has strategically been building up significant levels
of concentrate in anticipation of the Cannabis 2.0 vape pens and
edibles launch later in the 2019 calendar year.
"This is just the beginning," says Engel. "Our team is
constantly applying our best creative, consumer-focused thinking to
developing exceptional, imaginative products that support our
business objectives and delight our customers."
_________________________________________________
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i QUICK TAKE - Cannabis - Cowen's THC
Tracker: U.S. Brands - Cowen and Company, March 29, 2019
|
About PAX Labs, Inc.
PAX is a leader in the design and development of premium
app-controlled vaporization technologies and devices, for cannabis
flower and concentrates. Headquartered in San Francisco, PAX has revolutionized the
consumer experience through innovation and product design, and is
committed to taking the guesswork out of cannabis with products
that offer quality, transparency and predictability. PAX has sold
more than 500,000 Era devices for oil concentrates and over one
million devices in the flower vaporizer category. PAX is committed
to its mission: establishing cannabis as a force for good. For more
information, please visit ca.pax.com.
PAX Labs does not manufacture, produce or sell cannabis.
About Organigram Holdings Inc.
Organigram Holdings Inc. is a NASDAQ Global Select and TSX
Venture Exchange-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 the highest-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
Co., 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).
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
This news release contains forward-looking information. Often,
but not always, forward-looking information can be identified by
the use of words such as "plans", "expects", "estimates",
"intends", "anticipates", "believes" or variations of such words
and phrases or state that certain actions, events, or results
"may", "could", "would", "might" or "will" be taken, occur or be
achieved. Forward-looking information involves known and unknown
risks, uncertainties and other factors that may cause actual
results, events, performance or achievements of Organigram to
differ materially from current expectations or future results,
performance or achievements expressed or implied by the
forward-looking information contained in this news release.
Examples of such statements include statements with respect to the
size of the edibles and derivatives market, ability to achieve
adoption by the Company's provincial partners, total expected
market size based on estimates from U.S. experience, Organigram's
expected market position, consumer demand for products, timing for
launch of product lines and brands and timing for implementation
and effectiveness of the legal framework applicable to such product
lines. Risks, uncertainties and other factors involved with
forward-looking information could cause actual events, results,
performance, prospects and opportunities to differ materially from
those expressed or implied by such forward-looking information,
including risks associated with new product categories,
extrapolation from U.S. experience being representative of Canadian
market size, provincial receptiveness to new product categories,
delays in regulation and timing for implementation, and such risks
as disclosed in the Company's most recent annual information form
and other Company's documents filed from time to time on SEDAR
(see www.sedar.com). Readers are cautioned not to place undue
reliance on these forward-looking statements, which speak only as
of the date of this press release. Although the Company believes
that the assumptions and factors used in preparing the
forward-looking information in this news release are reasonable,
undue reliance should not be placed on such information and no
assurance can be given that such events will occur in the disclosed
time frames or at all. The forward-looking information included in
this news release are made as of the date of this news release and
the Company disclaims any intention or obligation, except to the
extent required by law, to update or revise any forward-looking
information, whether as a result of new information,
future events or otherwise. We seek safe harbor.
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SOURCE OrganiGram