With approved supplier status in Alberta, Organigram continues to expand
national footprint
MONCTON, NB, July 5, 2018
/CNW/ - Organigram Holdings Inc. (TSX VENTURE:OGI) (OTCQB:OGRMF),
the parent company of Organigram Inc. (the "Company" or
"Organigram"), a leading licensed producer of medical
marijuana, is pleased to announce that the Company has signed a
supply agreement with the Alberta Gaming, Liquor & Cannabis
Commission (AGLC) in anticipation of the launch of a legal, adult
use recreational cannabis market in the Province of Alberta.
"We are pleased to finalize this agreement with AGLC," says
Greg Engel, Organigram's Chief
Executive Officer. "We applaud the province's efforts to secure a
high-quality, dependable inventory for their recreational cannabis
market and are proud to have been selected as an AGLC partner."
"The AGLC is committed to providing the Alberta market with access to federally
regulated cannabis in a safe and fiscally-responsible manner, while
helping to shrink the illicit market," says Niaz Nejad, Chief Operating Officer and Vice
President, Gaming & Cannabis, AGLC. "We are confident that
those we are working with will help us fulfill our responsibilities
to Albertans."
The AGLC supply agreement follows Organigram's three previously
announced provincial arrangements:
- In 2017, Organigram signed an MOU with the Government of
New Brunswick (GNB) to supply a
minimum of 5 million grams of cannabis a year. The agreement has an
estimated retail value of between $40
million to $60 million per
year.
- In 2018, the Company also signed and MOU with the Prince Edward
Island Liquor Control Commission for the distribution of cannabis
to the province's adult recreational market. That agreement is
estimated to have a retail value of between $8 million to $12
million per year.
- Organigram also recently secured a supplier agreement with the
province of Manitoba (MBLL), to
supply Manitoba private retailers
and their consumers.
"As we move towards a legal recreational cannabis market, we
know that production capacity and product quality, along with
consistency and dependability matter a great deal to the provinces
and their customers," says Tim
Emberg, Vice President of Sales and Commercial Operations,
Organigram. "Organigram is committed to establishing a national
presence and working closely with our provincial partners to ensure
that Canadians have a choice in quality cannabis products."
The Organigram team recently unveiled the Company's preliminary
branding strategy for the adult recreational market in
Canada. Organigram's unprecedented recreational portfolio
features brands including The Edison Cannabis Company, ANKR
Organics and Trailer Park Buds.
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