Organigram Looks to Increase Capacity by 500%
Ryan Allway
September 10th, 2014
News, Top News
[stockchart symbol=OGRMF]
Organigram Holdings Inc. [stockquote symbol=OGRMF], a licensed producer of medical marijuana under Canada’s newly implemented MMPR program, recently announced the expansion of its facility in Moncton, NB. With a four-month timeline, the expansion is anticipated to increase production capacity by 500%, which represents an additional 3,000kg of production and $21 million in revenue.
“This is a very exciting time for Organigram and all of our shareholders,” said Organigram Holdings Inc. CEO Denis Arsenault in a recent press release announcing the expansion. “This is the first stage of a multi-stage expansion plan and we are very pleased with the speed at which we have been able to execute.”
On July 14th, the company began construction on three additional grow rooms, each containing 72 flowering lights, with plans to begin production by October 15th. Moreover, the company will begin construction of a further nine flowering rooms on October 1st. These 72 flowering light rooms are expected to begin production in December of 2014, according to management’s comments in the press release.
Once completed, the expansion efforts will add 12 grow rooms totaling 864 flowering lights to the current facility. The increase represents an additional 3,000kg of production per year, which translates to an annual revenue increase of $21 million. With its modest ~$50 million market capitalization, the revenue increase could generate significant incremental shareholder value.
Organigram represents one of only a handful of publicly traded licensed producers under Canada’s MMPR program. After Tweed Inc. [stockquote symbol=TWMJF] became the first to go public through a reverse merger, obtaining a $100 million market capitalization, investor appetite for these companies has been on the rise, particularly given that they could generate near-term revenue.
Shares of Organigram Holdings Inc. jumped more than 10% in early trading on Wednesday, September 10, 2014 following the news release.
This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.
About Ryan Allway
Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.Disclaimer: Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two. For full disclosure please visit: https://www.cannabisfn.com/legal-disclaimer/.
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