02:31:00 EDT Sun 19 May 2024
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or Name
USA
CA



Organigram Holdings Inc (2)
Symbol OGI
Shares Issued 80,516,902
Close 2023-08-15 C$ 1.78
Market Cap C$ 143,320,086
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Organigram signs U.K. supply deal with 4C Labs

2023-08-15 11:38 ET - News Release

Ms. Beena Goldenberg reports

ORGANIGRAM TO ENTER THE UNITED KINGDOM WITH AGREEMENT TO SUPPLY MEDICAL CANNABIS TO 4C LABS

Organigram Holdings Inc. has expanded its global footprint by entering into a supply agreement to provide dried medical cannabis flower to 4C Labs, a rapidly scaling health care, technology and pharmaceutical company focused on virtual prescribing, pharmaceutical distribution and clinical development of cannabis-based products for human health in the United Kingdom.

Under the terms of the agreement, the company expects to supply approximately 600 kilograms of high-quality, indoor-grown dried flower product to 4C Labs within the first year of the agreement and grant 4C Labs strain exclusivity within the geographical boundaries of the United Kingdom and Channel Islands for as long as minimum purchase commitments are satisfied.

"Medical cannabis has been legal in the U.K. since 2018. However, due to significant energy cost premiums compared to Canada, access to consistent, high-quality products in this market is limited, making importing medical cannabis an attractive option for this growing market," said Beena Goldenberg, chief executive officer of Organigram. "We are excited to partner with 4C Labs to increase access to medical cannabis for U.K. medical cannabis patients."

"4C Labs is focused on delivering a value proposition to U.K. patients; 4C Labs provides top-quality products, industry-leading pricing, best-in-class customer service and a robust supply chain," said Greg Dobbin, chief executive officer of 4C LABS. "We are excited to bring Organigram products to the U.K. and Channel Islands."

Activities under the agreement are subject to compliance with all applicable laws, including receipt, from time to time, of all requisite approvals from Health Canada, the United Kingdom Medicines and Healthcare Products Regulatory Agency, and any other applicable regulatory authorities.

About Organigram Holdings Inc.

Organigram Holdings is a Nasdaq Global Select Market and Toronto Stock Exchange listed company whose wholly owned subsidiaries include: Organigram Inc. and Laurentian Organic Inc., licensed producers of cannabis and cannabis-derived products in Canada, and The Edibles and Infusions Corp., a licensed manufacturer of cannabis-infused edibles in Canada.

Organigram is focused on producing high-quality cannabis for patients and adult recreational consumers as well as developing international business partnerships to extend the company's global footprint. Organigram has also developed and acquired a portfolio of legal adult-use recreational cannabis brands, including Edison, Holy Mountain, Big Bag O' Buds, Shred, Shred'ems, Monjour, Laurentian, Tremblant Cannabis and Trailblazer. Organigram operates facilities in Moncton, N.B., and Lac-Superieur, Que., with a dedicated edibles manufacturing facility in Winnipeg, Man. The company is regulated by the Cannabis Act and the Cannabis Regulations (Canada).

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