MONCTON, NB, April 26, 2019 /CNW/ - Organigram Holdings Inc.
(TSX VENTURE: OGI) (OTCQX: OGRMF), the parent company of Organigram
Inc. (the "Company" or "Organigram"), a leading licensed producer
of cannabis, announced today that it has applied to list its common
shares on the NASDAQ Global Select Market ("NASDAQ").
In advance of anticipated listing on the NASDAQ, Organigram will
file a Form 40-F Registration Statement with the United States
Securities and Exchange Commission. The listing of the
Company's common shares on the NASDAQ remains subject to the
approval of the NASDAQ and the satisfaction of all applicable
listing and regulatory requirements. The Company will continue
to maintain the listing of its common shares on the TSX Venture
Exchange under the symbol "OGI".
In connection with filing the Form 40-F, the Company has refiled
its annual financial statements for the fiscal years ended 2017 and
2018 to include statements in the audit report of the Company's
independent registered public accounting firm to clarify that the
consolidated financial statements have been filed in accordance
with International Financial Reporting Standards "as issued by the
International Accounting Standards Board". This change is
being made to comply with the requirements of the United States
Securities and Exchange Commission. No other substantive changes
are being made to the consolidated financial statements.
"As a management team we are seeing increased interest from
investors in the U.S. and internationally and believe that having a
listing on the NASDAQ will facilitate trading" says Paolo De Luca, Chief Financial Officer of
Organigram. "In addition, based on precedents in the cannabis
space, we expect trading volumes to increase which should result in
increased liquidity for all investors".
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 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
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).
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
timing, receipt of regulatory approval for, and listing of the
Company's common shares on a U.S. stock exchange, the filing of a
Form 40-F Registration Statement as well as statements relating to
any future trading liquidity, volumes or shareholder base.
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 the receipt of all regulatory
approvals for listing of the Company's common shares on a U.S.
stock exchange, 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.
SOURCE OrganiGram