One of our consistent favorites, OrganiGram Holdings Inc (OTCMKTS:OGRMF) is back on the move and making new all-time highs. We have said this one would lead the way, and we told you it would apply and list on a major US exchange. That trend continues, with shares breaking above the $7.50 level this week. Helping to drive the action, the company just announced the recent appointment of government relations expert Cameron Bishop as the Company’s Vice President, Public Affairs and Stakeholder Relations (North America).
According to the release, “Mr. Bishop is a seasoned government relations expert with extensive experience working at both executive and senior levels of corporate organizations. Most recently, Mr. Bishop led governmental affairs across all levels of federal, provincial, territorial and municipal government in reform of cannabis laws and regulations at another licensed producer in Canada prior to joining Organigram. In addition, Mr. Bishop oversaw corporate engagement with advocacy groups, key opinion leaders and industry associations in developing policy positions to help create a responsible, socially minded cannabis industry in Canada. Mr. Bishop has served as co-chair of both the Legislation and Regulation Committee of the Canadian Centre of Substance Abuse’s National Advisory Council on Rx Drug Misuse and the Coalition for Responsible Cannabis Branding.”
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 recent appointment of government relations expert Cameron Bishop as the Company’s Vice President, Public Affairs and Stakeholder Relations (North America).
Traders will note 17% added to share values of the stock over the past month of action. In addition, the name has seen a growing influx of trading interest, with the stock’s recent average trading volume running 8% beyond what we have been seeing over the larger time frame.
“A deep understanding of policymaking, government affairs and stakeholder engagement is crucial to developing and executing business plans in the rapidly evolving North American cannabis industry. With Cameron’s extensive knowledge and experience at both the industry and government level, he is the ideal addition to Organigram’s executive team,” says Greg Engel, Organigram CEO.
Now commanding a market cap of $1.21B, OGRMF has a significant war chest ($63.4M) of cash on the books, which compares with 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%. 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.