- Anticipating
Canadian legalization of adult-use cannabis edibles in October 2019,
Organigram recently announced a C$15 million investment commitment in a
high-speed, high-capacity, fully automated chocolate line
- Production
capacity is expected to be about 4 million kilograms per year of
exceptional chocolate cannabis edibles
- The
company’s chocolate launch is being led by a product development and
production team with more than 25 years of combined chocolate experience
and expertise
Canada is drawing closer to the legalization of edibles and
derivative products, which is expected to occur this fall. As noted by Green
Entrepreneur, edibles are expected to increase to 12-14 percent of the
total cannabis market in Canada and the U.S. by 2022 (http://ibn.fm/5dB6x). The
pending rise of the edibles sector is good news for companies such as Organigram Holdings Inc. (TSX.V: OGI) (NASDAQ: OGI) that
are positioning themselves to capture this further growth opportunity.
Organigram recently announced a C$15 million investment
commitment for a state-of-the-art chocolate molding line and a fully integrated
packaging line that includes advanced engineering, robotics, high-speed
labeling and automated shipping carton packing. According to the company’s
statement, the production line is expected to produce chocolate innovations
that are not only unique to the cannabis industry, but to the
chocolate industry as a whole.
“Over the last number of years, Organigram has become known
for its best-in-class cannabis production facility and
high-quality products. With this investment, we will soon also be
known for our world-class chocolate production capability,” Organigram CEO Greg
Engel stated in a press release announcing the investment (http://ibn.fm/cR5Yy).
On May 21, 2019, Organigram hit another company milestone
when shares of its common stock began trading on the Nasdaq under ticker symbol
‘OGI’ (http://ibn.fm/pNuWR),
in addition to its listing on the TSX Venture Exchange under the same symbol.
As a leading Canadian licensed producer of high-quality
cannabis and extract-based products, Organigram is focused on producing
indoor-grown cannabis for patients and adult recreational consumers in Canada,
as well as developing international business partnerships to expand the
company’s global footprint.
For more information, visit the company’s website at www.Organigram.ca
NOTE TO INVESTORS: The latest news and updates
relating to OGI are available in the company’s newsroom at http://ibn.fm/OGRMF
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