Organigram Expanding Operations, Hiring Up To 140 New Employees, Will Raise Annual Output to 25,000 kg
11 10월 2017 - 7:00PM
Organigram Holdings Inc. (TSX VENTURE:OGI) (OTCQB:OGRMF) (the
“Company” or “Organigram”) is undergoing a production-facility
expansion that will more than triple the size of its
operations. The multi-million-dollar project will meet
the growing needs of the Company’s medical patient base, as well as
prepare Organigram for the legal, adult-recreational marijuana
market.
Greg Engel, Organigram’s CEO, called the
development plans a significant, strategic investment designed to
ensure the company retains its leadership position when
recreational marijuana is legalized next year. Engel said the
highlights of Organigram’s plans are:
- The addition of approximately 140 new employees by the end of
next year;
- An expansion of its existing production facility from 36,000 to
134,000 square feet by the end of this year grown on three
levels;
- A further 36,000 square-foot expansion scheduled for completion
by mid 2018;
- A production-capacity increase from approximately 5,200
kilograms annually to more than 25,000 kg per year;
- Acquisition of a third building at 55 English Drive for future
expansion, adjacent to the current campus; and
- All current project components are fully funded, on budget, and
on schedule.
“We are committed to this growth because our
number-one priority is our ability to offer customers – both now
and in the future – consistent access to a range of high-quality
products that meet their needs and tastes,” said Engel. “Our
three-level indoor production allows us to maximize our footprint,
our yields and produce a consistent high-quality product supply for
our customers.”
“This is an incredibly exciting time for our
Company, as well as the entire industry,” said Engel. “We’re
delivering on our vision to be a major national player in both the
medical- and adult-recreational cannabis markets. These moves
will add value for our shareholders and will create economic growth
and opportunities in New Brunswick.”
For more information on expansion plans, please
see the extended release at 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”).
Organigram has been ranked in the top-10 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.
For further information, please contact:
Giselle Doiron Director of Investor and Media
Relationsinvestorrelations@organigram.ca (506) 801-8986
Greg Engel Chief Executive Officer gengel@organigram.ca
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