- Anticipating Canadian legalization of adult-use cannabis edibles in October 2019, Organigram recently announced a C$15 million investment commitment in a high-speed, high-capacity, fully automated chocolate line
- Production capacity is expected to be about 4 million kilograms per year of exceptional chocolate cannabis edibles
- The company’s chocolate launch is being led by a product development and production team with more than 25 years of combined chocolate experience and expertise
Canada is drawing closer to the legalization of edibles and derivative products, which is expected to occur this fall. As noted by Green Entrepreneur, edibles are expected to increase to 12-14 percent of the total cannabis market in Canada and the U.S. by 2022 (http://ibn.fm/5dB6x). The pending rise of the edibles sector is good news for companies such as Organigram Holdings Inc. (TSX.V: OGI) (NASDAQ: OGI) that are positioning themselves to capture this further growth opportunity.
Organigram recently announced a C$15 million investment commitment for a state-of-the-art chocolate molding line and a fully integrated packaging line that includes advanced engineering, robotics, high-speed labeling and automated shipping carton packing. According to the company’s statement, the production line is expected to produce chocolate innovations that are not only unique to the cannabis industry, but to the chocolate industry as a whole.
“Over the last number of years, Organigram has become known for its best-in-class cannabis production facility and high-quality products. With this investment, we will soon also be known for our world-class chocolate production capability,” Organigram CEO Greg Engel stated in a press release announcing the investment (http://ibn.fm/cR5Yy).
On May 21, 2019, Organigram hit another company milestone when shares of its common stock began trading on the Nasdaq under ticker symbol ‘OGI’ (http://ibn.fm/pNuWR), in addition to its listing on the TSX Venture Exchange under the same symbol.
As a leading Canadian licensed producer of high-quality cannabis and extract-based products, Organigram is focused on producing indoor-grown cannabis for patients and adult recreational consumers in Canada, as well as developing international business partnerships to expand the company’s global footprint.
For more information, visit the company’s website at www.Organigram.ca
NOTE TO INVESTORS: The latest news and updates relating to OGI are available in the company’s newsroom at http://ibn.fm/OGRMF
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