"Dealer's License" will permit greater
research and development opportunities for new products and
formulations
MONCTON, NB, May 15, 2018 /CNW/ - Organigram Holdings Inc.
(TSX VENTURE:OGI) (OTCQB:OGRMF) (the "Company" or
"Organigram"), a leading licensed producer of medical
marijuana based in Moncton, New
Brunswick, is pleased to announce that Health Canada has
issued the Company a License for Controlled Drugs and Substances
("Dealer's License") making Organigram a "Licensed Dealer".
The Dealer's License is the product of over twelve months of
work with Health Canada to ensure Organigram can engage in research
and development initiatives that will be critical to the Company's
forward-looking strategic plan both in Canada and internationally.
"The Dealer's License will allow us to put our plans into
action," stated Greg Engel,
Organigram CEO. "Now that we have our Dealer's License in
hand, we'll be aggressively moving forward on plans for alternative
forms and partnerships to fully maximize the value of our planned
production of over 113,000 kg of cannabis through 2020."
With receipt of its Dealer's License, the Company is now
authorized to conduct additional activities not currently permitted
under the Access to Cannabis for Medical Purposes
Regulations ("ACMPR"). This provides Organigram with an
ability to develop, test and export an extensive range of products
including its current range of cannabis oils as well as an
extensive range of derivative based formulations. The License will
also allow the Company to import input materials such as synthetic
cannabidiol (CBD) referenced in a previously announced press
release with alpha-cannabis® Pharma GmbH ("Alpha Cannabis Germany")
as well as other international organizations participating in the
legal medical cannabis market.
"The receipt of our Dealer's License is another key step in our
international expansion plans as we are now positioned to expand
our medical product offering not only to the German market but also
provide a broad range of products to other European and key global
markets," said Greg Engel, CEO of
Organigram. "Additionally, we can now begin extensive research
on new formulations to advance our product offerings in the
future."
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").
Forward-looking statements
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, import and export
regulations, 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.
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 does not constitute an offer to sell or a
solicitation of an offer to buy any of the securities in
the United States. The securities
have not been and will not be registered under the United States
Securities Act of 1933, as amended, or any state securities laws
and may not be offered or sold within the
United States absent such registration or an applicable
exemption from such registration requirements.
For more information, visit www.organigram.ca
SOURCE OrganiGram