Organigram Provides Expansion Update as Phase 4 Construction Begins

Organigram Holdings (TSXV:OGI) has announced it it is the final stages of planting the rest of the three of the 16 three-tier Phase 3 cultivation rooms licensed by Health Canada.

As quoted in the press release:

In total, the Company’s Phase 3 expansion has increased Organigram’s target dried flower equivalent production capacity from an estimated 22,000 kg/annum (Phases 1 and 2) to 36,000 kg/annum (Phases 1, 2 and 3).

Staggered harvests from Phase 3 are expected to begin in late August. The licensing of Phase 3 does not require a new sales license as this expansion is part of the existing Moncton facility. The additional capacity will help ensure product is available for sale when the adult recreational market launches.

In addition, Organigram has received licensing on a second harvest room which allows the Company to automate its harvesting process. The Company has also received licensing on new automated potting and waste shredding rooms.

“We are pleased to successfully complete our latest expansion project on time and on budget to meet the needs of the existing domestic and international medical market as well as the launch of the recreational adult-use market inCanada on October 17, 2018,” said Greg Engel, CEO, Organigram. “As a high-quality, indoor producer we are well positioned to deliver a consistent product across multiple SKUs and in meaningful volumes to wholesalers and retailers across Canada.”

Click here to read the full press release.