Organigram Holdings, Inc. (OTCMKTS: OGRMF) is a Canadian cannabis company whose wholly owned subsidiary is a licensed producer of medical marijuana in Canada. Organigram’s facility is located in Moncton, New Brunswick and is regulated by Health Canada’s Access to Cannabis for Medical Purposes Regulations (ACMPR).
Like a couple of other Canadian cannabis purveyors that have taken their wares overseas, OGRMF has made arrangements to begin shipping its herbal produce to Australia.
Organigram Holdings, Inc. (OTCMKTS: OGRMF) recently announced that it has received a “Permit to Export Cannabis” from Health Canada that will allow the Company to begin its first international shipments. Organigram will now be able to ship dried cannabis products to Cannatrek Medical PTY Ltd, a licenced Australian medical cannabis enterprise with operations in Melbourne, Victoria through its broker Cannada Management Group Global Inc (CMG), a leading global cannabis and hemp brokerage firm for import/export, procurement and logistics of cannabis and hemp related products.
“Today we are proud to announce our ability to commence international sales through the receipt of a Permit to Export Cannabis from Health Canada,” says Greg Engel, CEO, Organigram. “This is only the beginning. Last week we announced our intentions to invest in and sell to a German distributor. Today we announce our ability to sell into Australia. We continue to strive towards becoming a global leader in the medical cannabis trade.” (Source: Canada Newswire)
In more recent news, OGRMF has entered into a letter of intent with Hyasynth Biologicals, Inc. whereby Organigram proposes to make a strategic investment in Hyasynth, a biotechnology company based in Montreal. Their patent-pending technology makes it possible to produce phytocannabinoids using genetically engineered strains of yeast. Fermentation is a well-established and scalable production method for many nutritional products and pharmaceuticals. Hyasynth’s proprietary enzymes and yeast strains allow them to apply this efficient manufacturing platform to CBG, CBD and THC for novel and specialized products, and as pharmaceutical ingredients.
Hyasynth previously demonstrated small-scale production of phytocannabinoids under a research exemption. They recently received their dealer’s license from Health Canada, which enables them to expand beyond research and into commercial production.
Greg Engel, CEO of Organigram, commented, “As a proven technology the use of bioreactors is an infinitely scalable process which should allow Hyasynth to produce pharmaceutical grade cannabinoids at a significantly lower cost than traditional plant-based production, which has numerous medical and adult recreational use applications. The funding provided by Organigram will allow Hyasynth to refine and optimize its processes at scale via a contract manufacturer as well as fund a purpose-built manufacturing facility for production and also provides Organigram with the ability to purchase up to 25% of the cannabinoids produced by Hyasynth.” (Source: Canada Newswire)
While OGRMF has not appeared many times on our pages, like other Canadian cannabis companies like Aurora and Aphria, there is still plenty to the OGRMF story that interests us. The month of May has been a productive one for the company, leaving us quite eager to continue to track its activities as we go forward. Stay with us! We’ll be sure to continue looking out for key events. We’ll stay up on any further developments with OGRMF and pass them along to you! Stay locked on StreetRegister.com and be sure you’re signed up for our 100% free small cap newsletter. It’s as easy as that! Simply submit your primary active email address in the box below. Subscribe now!
Disclosure: No one at Street Register has been compensated in any way for the publishing of this article, nor do we hold any position in OGRMF stock, short or long.