OrganiGram Holdings Inc. Receives License to Sell Oil Extracts
Press Release: June 22, 2016 Ι 8:30 AM
MONCTON, NEW BRUNSWICK--(Marketwired - June 22, 2016) - OrganiGram Holdings Inc. (TSX VENTURE:OGI)(OTCQB:OGRMF) (the "Company") a provider of cannabis products, is pleased to announce that the company has received an amendment to its license to include both the production and sale of cannabis oil extracts from Health Canada under the Marihuana for Medical Purposes Regulations (Canada) ("MMPR") at its facility in Moncton, New Brunswick. The license was upgraded from production only and provides OrganiGram with the ability to produce and sell cannabis oil extracts along with our current dried medical cannabis products.
"This addition to our suite of products falls in line with our ongoing strategy of improved product diversity, customer satisfaction and production expansion as our industry continues to move forward towards a recreational marketplace," said Denis Arsenault, CEO of OrganiGram.
OrganiGram also announces the issuance of 54,674 shares to XIB Consulting Inc. for services performed pursuant to the arrangement previously announced.
We would also like to take this opportunity to announce that Roger Rogers will be stepping down from his position on the Board of Directors of OrganiGram Holdings Inc. effective immediately. We would like to thank Roger for his contribution to the Board and wish him the best of success in his future endeavours.
About OrganiGram Holdings Inc.
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. OrganiGram's facility is located in Moncton, New Brunswick and the Company is regulated by the Marihuana for Medical Purposes Regulations.
On behalf of the Board of Directors, Denis Arsenault, Director and CEO, OrganiGram Holdings Inc.
The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.
This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectation. Important factors - including the availability of funds, the results of financing efforts, crop yields - that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time on SEDAR (see www.sedar.com). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.