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Organigram fulfills gap in Canadian CBD Market with Edison CBD Oil
Organigram fulfills gap in Canadian CBD Market with Edison CBD Oil Canada NewsWire...
About this update from Organigram Global Inc.
[{"type":"text","content":"\n\n\n\nOrganigram fulfills gap in Canadian CBD Market with Edison CBD Oil\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nMONCTON, NB, May 29, 2019\n\n\n\nCompany sends initial shipments of more than 130 thousand units\n MONCTON, NB, May 29, 2019 /CNW/ - Organigram Holdings Inc. (TSX VENTURE: OGI) (NASDAQ: OGI), the parent company of Organigram Inc. (the \"Company\" or \"Organigram\"), a leading licensed producer of cannabis, is pleased to announce it has recently shipped more than one hundred and thirty thousand units of pure cannabidiol (CBD) oil destined for markets across Canada.\n\n \n \n\n \nThe recent legalization of adult-use, recreational cannabis in Canada has resulted in an increased demand for CBD, a naturally occurring compound in cannabis which has no psychoactive effect.\n\"Since legalization, Canadian consumers have proven themselves to be not only receptive to, but surprisingly well educated about, the benefits of CBD,\" says Greg Engel, CEO, Organigram. \"Consumers have embraced the idea of cannabis as it relates to overall wellness. While medical patients have long since discovered the potential benefits of CBD, we didn't anticipate how that awareness would translate into the recreational market but are pleased to be able to help meet this consumer demand.\"\nOrganigram attributes its ability to respond to growing CBD demand in part to the success of its strategic relationships and ongoing inputs from its provincial partners.\nAs previously announced, Organigram has a long-term agreement in place with 1812 Hemp, a New Brunswick-based industrial hemp research company. Initially, the deal offered Organigram access to approximately 6,000 kg of dried hemp flower harvested in the fall of 2018 which the Company purchased and sent for extraction in the first calendar quarter of 2019. In addition, Organigram has a right-of-first refusal on future procurement of hemp from 1812 Hemp which is expected to increase significantly over 2018 levels in 2019 and beyond.\nLikewise, as announced in early 2019, Organigra...