MONCTON, NEW BRUNSWICK--(Marketwired - Dec. 30, 2016) - Licensed medical marijuana producer Organigram Holdings Inc. (TSX VENTURE:OGI)(OTCQB:OGRMF) ("Organigram" or the "Company") is voluntarily recalling certain lots of medical marijuana which were supplied between August and December 2016 due to the detection of amounts of an unapproved pesticide not registered for use on marijuana under the Pest Control Products Act.
Following discussions with Health Canada, this has been deemed a Type III recall, which is defined as "a situation in which the use of, or exposure to, dried marijuana, fresh marijuana or cannabis oil, marijuana plants or seeds is not likely to cause any adverse health consequences." The source of the substance is unknown as Organigram is a certified organic grower and does not use compounds of this nature in its production processes. The Company is cooperating with Health Canada officials to determine how the substance came into contact with the marijuana.
Organigram's client service department is directly notifying all clients affected by the recall. Any further action, if necessary, will be undertaken at the direction of Health Canada. Currently the number of lots affected is small, however, additional screening could result in additional lots being determined to be compromised. In the event that the number of contaminated lots significantly increases, the Company's operating revenue could be negatively affected.
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 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 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.