As we have stated, OrganiGram Holdings Inc (OTCMKTS:OGRMF) is one of our most consistent favorites, because of both its growth potential and the sturdy action we are seeing on the charts. The company just announced its medicinal cannabis plants and growing process has been certified organic with Ecocert Canada, which further fleshes out the story.
According to the release, “the process of re-certification coincided with Organigram’s significant expansion of its facility to meet the growing and anticipated demand for both mineral and organic production. As part of the process, Organigram submitted a comprehensive action plan to Ecocert Canada, part of the Ecocert group, one of the largest organic certification organizations in the world, outlining the company’s robust segregation design to manage and execute the complexities of producing and processing both streams of product within the same facility.”
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 its medicinal cannabis plants and growing process has been certified organic with Ecocert Canada. In all, traders will note 9% piled on for shareholders of the stock during the trailing month.
Moreover, the listing has witnessed a pop in interest, as transaction volume levels have recently pushed 80% above its longer-run average levels.
“When we considered the need to expand and meet the needs of our existing and future customer base, it was apparent that we needed to take our time and create an environment of excellence related specifically to the production of organic cannabis for medicinal use,” says Greg Engel, CEO Organigram. “We have built a robust and diligent organic strategy into our plans to help ensure we can confidently deliver medicinal products that meet the exacting standards of our clients.”
At this time, carrying a capital value in the market of $734.6M, OGRMF has a significant war chest ($155.8M) of cash on the books, which is balanced by 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%. This is an exciting story, and we look forward to a follow-up chapter as events transpire. 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.