Organigram Holdings Inc.
TSX VENTURE : OGI
OTCQB : OGRMF

Organigram Holdings Inc.

March 29, 2017 06:30 ET

Organigram Announces Production License Renewal

MONCTON, NEW BRUNSWICK--(Marketwired - March 29, 2017) - Organigram Holdings Inc. (TSX VENTURE:OGI)(OTCQB:OGRMF) ("Organigram" or the "Company") announces that its wholly-owned subsidiary, Organigram Inc., has received a renewal of its license to produce and sell dried marijuana and cannabis oil pursuant to the Access to Cannabis for Medical Purposes Regulations ("ACMPR").

This renewal is a standard part of the ACMPR process, and was granted after Health Canada's recent inspection of Organigram's facilities and cultivation methodologies. "We approached this latest inspection with more confidence than we have ever had in the past," stated Organigram CEO Greg Engel. "Considering the process improvements made by the team with the ongoing support and assistance of Health Canada, the level of comfort Canadian medical marijuana patients should have in Organigram is as high as any licensed producer in the Country." Engel concluded, "The Organigram team allowed no margin of error in this latest inspection."

The company has taken the concept of "Canada's Safest Cannabis" as an internal mantra, rolling out several multi-departmental initiatives as a strategy to commit to full transparency and quality control. The first initiative is slotted to begin in the coming weeks, with full Certification of Analysis being posted for clients' review through Organigram's client portal. "Client confidence and comfort are our only metrics for these initiatives," noted Engel. "We'll continue to challenge ourselves to find new and creative ways to assure Canadians that Organigram produces the highest quality, most consistent and safest products available."

The Company is also pleased to announce that Organigram's expansion project remains on target for completion in calendar Q4 2017. The project will add 110,000 square feet to its state-of-the-art production facility in Moncton, New Brunswick. Upon completion of this phase, the Company will have capacity to produce up to 16,000 kgs of cannabis.

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").

In February 2017, Organigram was ranked in the top ten Clean Technology & Life Sciences Sector on the TSX Venture Exchange 50.

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 expectation. Important factors -- including the availability of funds, 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.

Contact Information

  • Organigram Holdings Inc.
    Greg Engel
    Chief Executive Officer
    gengel@organigram.ca

    Organigram Holdings Inc.
    Giselle Doiron
    Director of Investor and Media Relations
    (506) 801-8986