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OrganiGram Holdings Inc (OTCMKTS:OGRMF) Goes Coast to Coast

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As we have been noting in our recent coverage, the cannabis patch has been back on fire, and OrganiGram Holdings Inc (OTCMKTS:OGRMF) may represent one of the most interesting plays from here. The technicals suggest a strong potential of a new-highs breakout in the market on anything above the $4/share level, which would make it one of just a handful of stocks in the space to exceed its late-2017 highs. And the company is expanding rapidly with very strong nearly-triple-digit sales growth.

Helping to drive the action, the company just announced that it has been approved as a supplier of cannabis for the province of Ontario. According to the release, “Under the terms of the agreement with Ontario Cannabis Retail Corporation (OCRC), Organigram will provide the Province with 27 SKUs of products including dried flower, pre-rolled product, cannabis oils and the premium offering of the Edison Reserve brand.” In addition to this agreement with Ontario, OGRMF already has final supply agreements/memorandums of understanding with the provinces of New BrunswickPrince Edward IslandManitoba, and Alberta.

OrganiGram Holdings Inc (OTCMKTS:OGRMF) trumpets itself as a company that produces and sells medical marijuana in Canada. The company was founded in 2013 and is based in Moncton, Canada.

According to company materials, 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.

OGRMF’s facility is located in Moncton, New Brunswick and the Company is regulated by the Access to Cannabis for Medical Purposes Regulations.

According to company materials, “From the day we started back in 2013, it’s been about making lives better – for our clients, our people, and our community. We’re based in Moncton, New Brunswick, the heart of the Maritimes, but at OrganiGram Holdings we’re committed to improving the quality of life for Canadians across the country. For us, this means working with health-care providers and industry organizations, supporting research and education, and providing a safe, effective product. To be effective in that last goal, we made a decision to produce organic cannabis. Growing certified organic medical cannabis isn’t easy, in fact, most licensed producers won’t take this on. It means more care, more testing, more rules… but in the end, it means a product that we feel delivers on our goals in the best way. And improving the quality of life for Canadians is not just about getting safe, quality product to them effectively. It’s about creating jobs, being good neighbors and contributing to our community.”

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“We are proud to have the confidence of the OCRC and the opportunity to offer Ontarians a range of exceptional quality cannabis products,” says Tim Emberg, Organigram Vice President of Sales and Commercial Operations. “All of our products are developed with an outstanding customer experience in mind. We are excited to work with provincial regulators across the country, now including the Province of Ontario, to offer that experience to as many Canadians as possible.”

The company also noted in its release that, with this latest move, it has secured agreements that span across the continent in an expansion that has been long in the making.

“As a company, we have worked hard to establish strong working relationships across the country that support the successful launch – and long-term success – of the adult use recreational market in Canada. Our arrangement with OCS represents the culmination of our collective efforts to date,” says Greg Engel, Organigram CEO. “Our agreement with the Province Ontario is an important strategic milestone with significant impact for Organigram, but it also further galvanizes our ability to share our tremendous product experience and expertise with an even broader customer base.”

Currently trading at a market capitalization of $531.5M, OGRMF has a significant war chest ($31.6M) of cash on the books, which stands against about $418K in total current liabilities. OGRMF is pulling in trailing 12-month revenues of $12.2M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 94.3%. As more color becomes clear on the name, we will review the situation and update our take. Sign-up for continuing coverage on shares of $OGRMF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in $OGRMF, either long or short, and we have not been compensated for this article.

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