INVESTOR UPDATE: Organigram Cements Distribution Nationwide
If you had taken our advice and purchased shares in Organigram back in early January, you’d be thanking us right now.
Organigram Holdings Inc. (OTC: OGRMF) just announced that it has entered into a letter of intent with Quebec – cementing its distribution throughout Canada.
Organigram is on an absolute tear in 2019 so far with a 75% appreciation in stock value – reaching a 52 week high after announcing Quebec LOE this week.
The Société québécoise du cannabis (SQDC) is the tenth and final province to enter into a supply agreement with Organigram. The company will provide a wide range of products to consumers within the SQDC that range from dried cannabis flower to pre-rolls and oils. Organigram’s distribution lines now span across all of ten of the Canadian provinces.
Only two other cannabis corporations, Aphria (NYSE: APHA) and Canopy Growth Corp. (NYSE: CGC), have letters of intent to supply every province in Canada. This elevates its status from mid-tier cannabis company to top 3 LP in the country.
Tim Emberg, Senior Vice President of Sales and Commercial Operations, stated: “We are pleased to work with the SQDC and deliver products that will be needed to meet the demand of its customers.”
Final agreements and the first shipping date of cannabis products are still subject to routine processes by the Autorité des Marchés Publics.
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Tags: Finance, Stock Talk
INVESTOR UPDATE: Organigram Cements Distribution Nationwide
