As our regular readers know, OrganiGram Holdings Inc (OTCMKTS:OGRMF) has been one of our favorite names in the cannabis patch for the past two years. That story has pushed back onto the front burner in recent days as the stock closes in on a possible test of new all-time highs following the company’s announcement of the release of an immersive 360-degree virtual facility experience, highlighting innovative indoor production practices at its Moncton, New Brunswick campus.
“We are told time and time again by industry experts, analysts and investors who visit that our production facility is precedent-setting for indoor cannabis production,” Organigram CEO Greg Engel said. “We’re proud of the innovation and engineering that’s gone into the design; our geographic location makes it challenging for many visitors to visit in person, so we’re eager to offer them an inside look from wherever they may be in the world.”
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 the release of an immersive 360-degree virtual facility experience, highlighting innovative indoor production practices at its Moncton, New Brunswick campus.
We’ve witnessed 32% added to share values of the name over the past month of action. In addition, the name has benefitted from a jump in recent trading volume to the tune of 45% above its longer-run average levels.
“We’ve learned a lot since beginning production back in 2014. We’re proud to have established industry best practices and have modified our production to maximize both available space and efficiency. Our three-tiered growing model is one-of-a-kind in Canadian cannabis production, and users get to experience what it’s like to be inside a flowering room surrounded by plants on all sides. Minus the aroma, it’s very close to being there.”
Currently trading at a market capitalization of $777.64M, OGRMF has a significant war chest ($95.9M) of cash on the books, which stands against about $15.8M in total current liabilities. One should also note that debt has been growing over recent quarters. OGRMF is pulling in trailing 12-month revenues of $23.1M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 363%. We will update the story again soon as further details emerge. 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.