MONCTON, NB, June 8, 2018 /CNW/ - Organigram Holdings
Inc. (TSX VENTURE:OGI) (OTCQB:OGRMF) (the "Company" or
"Organigram"), a leading licensed producer of medical
marijuana based in Moncton, New
Brunswick, is pleased that Bill C-45 has been passed by the
Senate in a historic vote, clearing another key milestone on the
way to the legalization of adult-use recreational cannabis in
Canada.
"As a company, we are pleased to see Bill C-45 continue to make
its way through the regulatory process," says Greg Engel, CEO, Organigram.
The Bill passed by the Senate contained a number of amendments
to the original draft, including more controversial items such as
potential limits on the potency of THC in the product and the
required disclosure of certain shareholders of cannabis companies
(those above 5 per cent ownership in public companies).
"While the debate proved challenging at times, we look forward
to the House of Commons review. As a company, we hope we will have
the opportunity to work with government and other stakeholders to
arrive at a final version of the law that will represent the best
interests of Canadians and this new industry."
Orgranigram and Preparation for a Legal, Adult Use
Recreational Cannabis Market
A licensed producer of medical
cannabis since 2013, Organigram supports the move to a legal,
adult-use recreational cannabis market and the goals of a legal
market: the protection of Canadian youth and the elimination of the
illicit cannabis market.
In anticipation of the new legal market, and with these goals in
mind, Organigram has been active in the development of an
exceptional product offering, public and private partnerships
designed to best serve recreational customers, and social
responsibility programs.
These include:
- Development of an unprecedented recreational portfolio
including the anticipated launch of The Edison Cannabis Company,
Ankr Organics and Trailer Park Buds;
- 2017 Canadian Cannabis Award for Top Sativa Flower for the
Company's popular premium flower, Wabanaki;
- Memoranda of Understanding and/or supply agreements with the
Government of New Brunswick and
the Prince Edward Island Liquor Control Commission;
- An international investment strategy including pending
investments in Alpha-Cannabis Germany focused on the development,
production and marketing of cannabis-based APIs (Active
Pharmaceutical Ingredients) and pharmaceuticals and Eviana Health
Corporation, focused on the production of hemp-derived CBD oil;
- A proposed investment in Hyasynth Biologicals, a biotech leader
with patent-pending technology to produce phytocannabinoids using
genetically-engineered strains of yeast through fermentation;
- Several investments in local, provincial and National research
and social responsibility programs.
"At Organigram, we take the launch and success of the Canadian
recreational cannabis market – and our leadership within that
market – very seriously," says Engel. "We've assembled a
best-in-class team to deliver a best-in-class product to Canadian
cannabis consumers. We've also made every effort to ensure that
safety and product quality remain our top priorities. We look
forward to new, ever-evolving opportunities to continue to serve
our Canadian customers and lead in this new and dynamic global
industry."
For more information, visit www.Organigram.ca
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 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