Organigram Holdings Shares Climb as Canada Cannabis Legalization Draws Near
NEW YORK, NY / ACCESSWIRE / May 31, 2018 / Traders News Source, a leading independent equity research and corporate access firm focused on small and mid-cap public companies is initiating coverage on Organigram Holdings, Inc. (OGRMF), a company who through its 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 Organigram is regulated by the Access to Cannabis for Medical Purposes Regulations.
Adult recreational use of cannabis in Canada is expected to be legalized in the summer of 2018. The company's shares have jumped over 40% since April as the legalization date draws nearer.
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Organigram Holdings announced that it has entered into a letter of intent with Hyasynth Biologicals, Inc. whereby Organigram proposes to make a strategic investment in Hyasynth. Additionally, the non-binding letter of intent contemplates Organigram entering into an off-take agreement with Hyasynth whereby Organigram can purchase a pre-defined quantity of a range of cannabinoids or cannabinoid related production from Hyasynth.
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