Organigram Progresses Towards 113k Kg Anticipated Capacity by Finish of 2019 – New Cannabis Ventures

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Organigram Receives Perimeter License Amendment for Phases 4A and 4B as nicely as Initial 13 Cultivation Rooms in Phase 4A

Organigram meets schedule and is on track to boost target annualized production capacity to 113,000 kg¹ by the finish of 2019

MONCTON, NB, April 30, 2019 /CNW/ – Organigram Holdings Inc. (TSX VENTURE: OGI) (OTCQX: OGRMF), the parent enterprise of Organigram Inc. (the “Company” or “Organigram”), a top licensed producer of cannabis is pleased to announce that it has received an expanded cultivation license from Wellness Canada in line with its previously announced Phase 4A and 4B expansion plans for its Moncton Campus.

The scope of the amendment incorporates approval of the following:

  • Perimeter Expansion Licensed – Representing an further 163,000 sq ft of allocated space for 63 cultivation rooms populating the Company’s planned Phase 4A and 4B expansion, which includes the initial 13 cultivation rooms now authorized. The approval of the perimeter for Phase 4B was received ahead of schedule, in tandem with the approval for Phase 4A.
  • 13 Incremental Cultivation Rooms – Representing 11,000 kg of quick improved target production capacity. The remaining 18 Phase 4A cultivation rooms can now be submitted for Wellness Canada evaluation.
  • Mechanical Space – Constructed to assistance all 63 cultivation rooms incorporated in the Company’s planned Phase 4A and 4B expansion. The mechanical area homes Organigram’s state-of-the-art irrigation and water reclamation systems.
  • More Storage Region (Developing C) and Processing Space – Constructed in anticipation of the Company’s future specifications for storage and processing relative to each dried cannabis and cannabis derivative solutions.

As a outcome of this approval, cannabis plants will be moved into these new rooms on a rolling basis in early May possibly. The Corporation anticipates becoming in a position to harvest solution from these new rooms by the finish of July, primarily based on typical cultivation timelines. Subsequent Wellness Canada licensing amendment submissions will comply with to enable for a continuous filling of the remaining 50 Phase four cultivation rooms (4A (18 rooms) and 4B (32 rooms)) mirroring the effective method utilized with the Company’s Phase two and three expansions.

We are proud to continue our legacy of delivering on our commitments. The completion of this phase of our expansion reinforces our commitment to innovation, efficiency and greatest-in-class operations. Becoming on time, this expansion reinforces our commitment to shareholders and shows our skills with market-top execution.

Greg Engel, CEO, Organigram

The complete Phase four expansion represents an aggregate of 77,000 kg of further annual capacity and is becoming completed in a series of stages (4A: 26,000 kg 4B:27,000 kg and 4C: 24,000 kg) which, as soon as totally licensed and operational, is anticipated to bring the Company’s annualized target production to around 113,000 kg by the finish of calendar 2019.

A Phase five refurbishment is also underway for an edibles and derivative facility and further in-residence extraction capacity.

“Our stalwart commitment to our clients is reflected in our ongoing investment in exceptional processes and delivering exceptional solutions,” says Engel.

¹The forward-searching estimates of further production capacity are primarily based on a quantity of material things and assumptions. Please see the Company’s most current MD&ampA accessible on SEDAR at www.sedar.com and the disclaimer at the finish of this release.

About Organigram Holdings Inc.

Organigram Holdings Inc. is a TSX Venture Exchange listed enterprise whose wholly owned subsidiary, Organigram Inc., is a licensed producer of cannabis and cannabis-derived solutions in Canada.

Organigram is focused on making the highest-top quality, indoor-grown cannabis for individuals and adult recreational buyers in Canada, as nicely as creating international company partnerships to extend the company’s worldwide footprint. Organigram has also created a portfolio of legal adult use recreational cannabis brands which includes The Edison Cannabis Corporation, Ankr Organics, Trailer Park Buds and Trailblazer. Organigram’s main facility is positioned in Moncton, New Brunswick and the Corporation is regulated by the Cannabis Act and the Cannabis Regulations (Canada).

Original press release

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Published by NCV Newswire

NCV Newswire
The NCV Newswire by New Cannabis Ventures aims to curate higher top quality content material and data about top cannabis firms to assist our readers filter out the noise and to remain on top rated of the most vital cannabis company news. The NCV Newswire is hand-curated by an editor and not automated in anyway. Have a confidential news tip? Get in touch.

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