One cannabis stock that has come absolutely roaring back so far in 2019 is OrganiGram Holdings Inc (OTCMKTS:OGRMF). Shares have blasted above all the major moving averages in the past 3 weeks, pushing back up to test the $5/share level after establishing key support just above $3 in late December. Helping to drive the story, the company just announced it is the first in the Canadian cannabis industry to introduce Integra Boost packaging technology into its entire line of dry flower products from 1g to 15g to help maintain freshness, extend shelf life and enhance the overall customer experience.
“At Organigram, we are exceptionally proud of the quality of our products,” says Ray Gracewood, Chief Commercial Officer, Organigram. “At every step, we look for ways to ensure our products reflect the very best that science and technology have to offer. Now, we can extend that commitment to our product even after it leaves our facility. The Integra Boost technology helps us ensure our customers always receive product that is fresh.”
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 it is the first in the Canadian cannabis industry to introduce Integra Boost packaging technology into its entire line of dry flower products from 1g to 15g to help maintain freshness, extend shelf life and enhance the overall customer experience. In all, recent action has seen 32% tacked on to share pricing for the listing in the past month.
What’s more, the name has seen interest climb, with an increase in recent trading volume of 30% above its longer-run average levels.
“We are pleased to offer our expertise to Organigram and the cannabis industry,” says Ben Blankenhorn, General Manager of Integra Products, Desiccare, Inc., manufacturers of Integra Boost. “Our technology is a safe, simple solution that will help preserve the freshness, potency, taste, and overall quality of cannabis flowers, concentrates and edibles.”
Currently trading at a market capitalization of $607.56M, OGRMF has a significant war chest ($130.1M) of cash on the books, which stands against about $11.3M in total current liabilities. OGRMF is pulling in trailing 12-month revenues of $13.3M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 49.7%. 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.