As we have noted, OrganiGram Holdings Inc (OTCMKTS:OGRMF) is a stock that should be high on the shopping list for folks looking to use the current corrective wave in the cannabis patch as an opportunity to build new exposure as good assets get tossed overboard. The company just announced the creation of an institutional research project focused on cannabis at the Université de Moncton in partnership with the Government of Canada, Genome Atlantic, Genome Canada, and New Brunswick Innovation Foundation (NBIF).
According to the release, “Supplying cannabis and cannabis products to a legalized adult use recreational market represents a major economic opportunity in New Brunswick and across the country. Indeed, the retail market value for recreational cannabis in Canada is expected to reach $8.7 billion annually. However, current production capacity will not meet the anticipated demand.”
OrganiGram Holdings Inc (OTCMKTS:OGRMF) casts itself as a company that produces and sells medical marijuana to individuals and physicians in Canada. It offers marijuana plants, seeds, and cuttings; cannabis oil; and dried flower and cannabis.
The company sells its products through phone and online store. It also operates healing centers that offer treatments for post-traumatic stress disorders, chronic pain, and trauma therapy. In addition, the company exports its products.
OrganiGram Holdings Inc. was founded in 2013 and is based in Moncton, Canada.
Moreover, 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, OGRMF just announced just announced the creation of an institutional research project focused on cannabis at the Université de Moncton in partnership with the Government of Canada, Genome Atlantic, Genome Canada, and New Brunswick Innovation Foundation (NBIF).
In all, recent action has seen in excess of -20% stripped out of shares during the past week. Furthermore, the name has benefitted from a jump in recent trading volume to the tune of 49% above the average volume levels in play in this stock over the longer term.
“We have been working with the Université de Moncton almost since our inception and look forward to strengthening the collaboration through this project. It is a tremendous example of local, provincial and federal support for the cannabis industry and solidifies Moncton as a world leader in cannabis genetic research. The Organigram team is excited to continue to work with Dr. Joly and Dr. Filion and to get started on this very important project,” noted Greg Engel, CEO, Organigram.
Now commanding a market cap of $550.81M, 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%. We will update the story again soon as developments 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.