Monday, June 27, 2022

ORGANIGRAM HLDGS I COM NPV (OTCMKTS:OGRMF) Sees Bounce on Government Deal

ORGANIGRAM HLDGS I COM NPV (OTCMKTS:OGRMF) is seeing a sizable bounce today on recent news. OGRMF inked an MOU with the New Brunswick provincial authority for the distribution of marijuana to the adult-use recreational market. Through the MOU, New Brunswick secures a supply of at least 5 million grams of recreational marijuana per year from Organigram. The deal will keep a line of communication open between the government and OGRMF.
“We are excited to enter into this MOU with the Province. The Government of New Brunswick has established itself as a leader in the developing marijuana industry, working to ensure that the industry develops in a responsible and effective manner. New Brunswick’s stewardship on this file has been recognized throughout Canada and we are proud to work closely and support them as a strategic partner,” says Greg Engel, Organigram’s Chief Executive Officer.
ORGANIGRAM HLDGS I COM NPV (OTCMKTS:OGRMF) trumpets itself as a company that produces and sells medical marijuana in Canada. The company was founded in 2013 and is based in Moncton, Canada.
According to company materials, 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.
According to company materials, “From the day we started back in 2013, it’s been about making lives better – for our clients, our people, and our community. We’re based in Moncton, New Brunswick, the heart of the Maritimes, but at OrganiGram Holdings we’re committed to improving the quality of life for Canadians across the country. For us, this means working with health-care providers and industry organizations, supporting research and education, and providing a safe, effective product. To be effective in that last goal, we made a decision to produce organic cannabis. Growing certified organic medical cannabis isn’t easy, in fact, most licensed producers won’t take this on. It means more care, more testing, more rules… but in the end, it means a product that we feel delivers on our goals in the best way. And improving the quality of life for Canadians is not just about getting safe, quality product to them effectively. It’s about creating jobs, being good neighbors and contributing to our community.”
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“As we move forward under this agreement, we have the opportunity not only to help build a strong and successful cannabis market within the province and beyond, but to also reinforce our company’s commitment to safety and education” says Ray Gracewood, Chief Commercial Officer, Organigram. “The safety of those in our community is of the utmost importance, and we are proud to support programs that will continue to educate the public on cannabis and all of its forms”.
Howeve, and important to note, the supply arrangement outlined in the MOU supports the financial viability and success of Organigram as a leading licensed producer in Canada.
“We applaud the New Brunswick government’s efforts to foster an innovative, forward-thinking economic climate that supports cannabis as a driver of growth for New Brunswick-based businesses,” adds Mr. Engel.
ORGANIGRAM HLDGS I COM NPV (OTCMKTS:OGRMF) has a market cap of $188.27M with 100.75 shares out. This deal might boost the company that has been relatively solid most of the year. Investors should certainly be watching this company going forward. For continuing coverage on shares of $OGRMF stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!
Disclosure: We hold no position in $OGRMF, either long or short, and we have not been compensated for this article.

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