Is OrganiGram Holdings Inc (OTCMKTS:OGRMF) the Next to Graduate?

Is OrganiGram Holdings Inc (OTCMKTS:OGRMF) the Next to Graduate?

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We said it about 50 times over the past 6 months: OrganiGram Holdings Inc (OTCMKTS:OGRMF) would be the next of the big Canadian cannabis producers to list on a major US exchange. The writing has been on the wall for some time given the path established by Canopy and Aurora. OrganiGram was the next logical choice given its size and growth rate, and its distribution footprint and ties to regulated domains. So, without further ado, the company has filed its application to list its common shares on the NASDAQ Global Select Market.

According to the release, “In advance of anticipated listing on the NASDAQ, Organigram will file a Form 40-F Registration Statement with the United States Securities and Exchange Commission. The listing of the Company’s common shares on the NASDAQ remains subject to the approval of the NASDAQ and the satisfaction of all applicable listing and regulatory requirements. The Company will continue to maintain the listing of its common shares on the TSX Venture Exchange under the symbol ‘OGI’.”

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 has filed its application to list its common shares on the NASDAQ Global Select Market.

Traders will note 7% piled on for shareholders of the name during the trailing month. Moreover, the listing has benefitted from a jump in recent trading volume to the tune of 16% over what the stock has registered over the longer term.

“As a management team we are seeing increased interest from investors in the U.S. and internationally and believe that having a listing on the NASDAQ will facilitate trading” says Paolo De Luca, Chief Financial Officer of Organigram. “In addition, based on precedents in the cannabis space, we expect trading volumes to increase which should result in increased liquidity for all investors”.

Now commanding a market cap of $1.11B, OGRMF has a significant war chest ($63.4M) of cash on the books, which stands against about $66.4M 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 $46.3M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 630.2%. You can bet we will update this one again as new information comes into view. 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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