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Why OrganiGram Holdings Inc (OTCMKTS:OGRMF) Recent Move Barks Volumes about the Current Cannabis Space

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One of the stocks that we have been most intrigued with the cannabis patch is OrganiGram Holdings Inc (OTCMKTS:OGRMF). The company has been playing catch-up, but with rapidity, signing a number of important supplier agreements over the past 2 months. Given the competition for top talent in the space, it shouldn’t be overlooked that the company just announced the grant of restricted share units to certain officers, directors, and employees.

According to the release, “Pursuant to the terms of the Equity Incentive Plan of the Company as approved by shareholders at the Annual and Special Meeting of the Shareholders held December 19, 2017, 145,201 RSUs were today awarded to officers, directors, and employees pursuant to the Company’s Plan. The RSUs shall vest in three equal tranches, on August 31, 2019, August 31, 2010, and August 31, 2011, unless otherwise varied pursuant to the terms of the Plan. The issuance of the RSUs is subject to all required approvals, including, if applicable, the approval to the TSX Venture Exchange.”

OrganiGram Holdings Inc (OTCMKTS:OGRMF) casts 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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As noted above, the company just announced the grant of restricted share units to certain officers, directors, and employees.

The reward is likely related to increasing competition for top talent in what has become one of the most dog-eat-dog industries on the planet at this point given the huge growth estimates in play and the sense of an open frontier where to the winner go some pretty striking spoils down the line.

In all, traders will note 30% piled on for shareholders of the listing during the trailing month. In addition, the company has seen a growing influx of trading interest, with the stock’s recent average trading volume running nearly 240% beyond what we have been seeing over the larger time frame.

At this time, carrying a capital value in the market of $624.99M, OGRMF has a significant war chest ($31.6M) of cash on the books, which must be weighed relative to about $9.1M 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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