In this market news, Organigram Holdings Inc. (TSXV:OGI), one of the Canadian marijuana stocks, said it has become an official supplier of cannabis for Saskatchewan
SmallCapPower | December 3, 2018: Organigram Holdings Inc. (TSXV:OGI), one of the Canadian cannabis stocks, announced recently the completion of the registration process with Saskatchewan Liquor and Gaming Authority (SLGA), becoming an official supplier of cannabis for Saskatchewan.
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Organigram Holdings is a licensed producer of cannabis and cannabis-derived products (both medical and recreational) in Canada and is aggressively establishing international business partnerships to expand globally. Organigram has developed a portfolio of brands including The Edison Cannabis Company, Ankr Organics, Trailer Park Buds and Trailblazer.
Tim Emberg, Senior Vice President of Sales and Commercial Operations at Organigram, said, “We are pleased to have been selected as an official supplier of cannabis in Saskatchewan. We look forward to working with retailers and key distributors to help ensure the success of the adult recreational market in the province.”
This agreement continues to build Organigram Holdings’ position as a true national player in Canada’s new legal adult-use recreational cannabis marketplace. The Company now has supply agreements, listed as an official supplier, and/or memorandums of understanding in nine of the 10 provinces.
Organigram Chief Executive Officer Greg Engel stated, “We are proud to offer Canadians access to our growing portfolio of safe, high-quality recreational products. At Organigram, we are committed to positive and productive relationships with our partners across the country, and to the development of innovative products that meet the needs of our customers from coast to coast.”
The Company expects sales to Saskatchewan to begin before the end of 2018.
Additionally, Organigram has appointed Alec Zhou as the Director of Research and Development. Alec has spent 10+ years working as R&D Manager for Cavendish Farms, leading their Culinary Creation Center on PEI. He has a PhD and Master’s Degree in Food Science and a Bachelor in Chemical Engineering. Alec will be heading the Company’s R&D team, as the Company continues to prepare for the expanded derivative and edibles market in 2019, as well as developing processes for new product development.
Organigram Holdings stock trades at a market capitalization of C$688 million with a price-to-book multiple of 4.3x.
Disclosure: Neither the author nor his family own shares in the company mentioned above.
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