Licensed production capacity expected to be
36,000 kg/yr by end of June
2018
TORONTO, June 5, 2018 /CNW/ - Organigram Holdings Inc.
("Organigram" or the "Company") (TSX VENTURE: OGI) (OTCQB: OGRMF) a
leading licensed producer of medical marijuana based in
Moncton, New Brunswick, is pleased
to announce that it has received an expanded cultivation license
from Health Canada related to its previously announced Phase 3
expansion.
The scope of the amendment includes approval of the
following:
- The entire perimeter of the expanded facility, approximately
40,000 sq ft;
- The first six of Organigram's new 16 three-tier cultivation
rooms in the Phase 3 expansion; and
- Refined functional design on an already improved Phase 2 design
including slightly higher grow rooms and the location of HVAC units
entirely on the outside of the rooms for enhanced ergonomics and
improved airflow.
As a result of this approval, cannabis plants will be moved into
these new rooms on a rolling basis beginning on June 6, 2018. The Company will be able to begin
staggered harvests from these new rooms by the first week in
August. The remaining ten Phase 3 rooms are expected to come online
on or before June 30, 2018 in stages
pending Health Canada approval.
Organigram is also pleased to note that this licensing does not
require a new sales license and there will be no delay from harvest
to sale.
Organigram Positioning into Canadian Adult-Use Market
Launch
Once the remaining Phase 3 rooms are online the Company will
have a target production capacity of 36,000 kg/year of dried flower
equivalent.
"Based on our review of publicly available data we believe we
will be one of the top 5licensed producers in terms of current
production capacity once the remaining rooms from Phase 3 are
approved", said Greg Engel, CEO.
"Given our existing inventory, production volume and consistency
and quality of supply, we believe we are well positioned to be a
supplier of choice for many of the provincial cannabis boards and
private retailers across Canada."
About Organigram Holdings Inc.
Organigram Holdings Inc. is a TSX Venture Exchange listed
company whose wholly owned subsidiary, Organigram Inc., is a
licensed producer of medical marijuana in Canada. Organigram is focused on producing the
highest-quality, condition-specific medical marijuana for patients
in Canada. Organigram's facility
is located in Moncton, New
Brunswick and the Company is regulated by the Access to
Cannabis for Medical Purposes Regulations ("ACMPR").
Neither the 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 which
involves known and unknown risks, uncertainties and other factors
that may cause actual events to differ materially from current
expectations. Important factors - including the availability of
funds, consummation of definitive documentation, the results of
financing efforts, crop yields - that could cause actual results to
differ materially from the Company's expectations are disclosed in
the 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. The Company disclaims any intention or
obligation, except to the extent required by law, to update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise.
SOURCE OrganiGram