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Why OrganiGram Holdings Inc (OTCMKTS:OGRMF) Remains a Frontrunner

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OrganiGram Holdings Inc (OTCMKTS:OGRMF) shares continue to take a leadership role in the cannabis space. The stock has continued to show some relative strength at a steady pace. To help further build out the narrative, the company just announced that it has closed the previously-announced private placement investment in Eviana Health Corporation.

According to the release, Organigram along with an institutional strategic investor each participated 50% in a $10 million debenture offering by Eviana. “Our investment in Eviana represents just the beginning of our international aspirations” said Greg Engel, CEO of Organigram, “but is representative of our approach to work with trusted local partners to both move quickly with boots on the ground and to navigate regional regulatory issues effectively”.

OrganiGram Holdings Inc (OTCMKTS:OGRMF) is a company that produces and sells medical marijuana in Canada. The company was founded in 2013 and is based in Moncton, Canada.

According to company materials, OrganiGram Holdings Inc. is a TSX Venture Exchange listed company whose 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.

OGRMF’s facility is located in Moncton, New Brunswick and the Company is regulated by the Access to Cannabis for Medical Purposes Regulations.

According to company materials, OrganiGram Holdings Inc. is a TSX Venture Exchange listed company whose 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.

The company’s own portrayal of its market positioning runs as follows: “From the day we started back in 2013, it’s been about making lives better – for our clients, our people, and our community. We’re based in Moncton, New Brunswick, the heart of the Maritimes, but at OrganiGram Holdings we’re committed to improving the quality of life for Canadians across the country. For us, this means working with health-care providers and industry organizations, supporting research and education, and providing a safe, effective product. To be effective in that last goal, we made a decision to produce organic cannabis. Growing certified organic medical cannabis isn’t easy, in fact, most licensed producers won’t take this on. It means more care, more testing, more rules… but in the end, it means a product that we feel delivers on our goals in the best way. And improving the quality of life for Canadians is not just about getting safe, quality product to them effectively. It’s about creating jobs, being good neighbors and contributing to our community.”

 

Out in Front

As we covered, OGRMF just announced that it has closed the previously-announced private placement investment in Eviana Health Corporation.

OGRMF shares have rallied roughly 10% over the past month on strong technical action. Furthermore, the listing has seen interest climb, with an increase in recent trading volume of nearly 170% above the average volume levels in play in this stock over the longer term.

According to the release, “In connection with the closing of the Debenture Offering, Organigram has been granted board representation rights, pursuant to which Eviana has agreed to include one Organigram designated candidate for election to the board of directors of the Issuer and include this candidate in the slate of nominees recommended to shareholders at any annual or special meeting of the shareholders at which directors are to be elected. This board seat shall be occupied by Mr. Paolo De Luca, Chief Financial Officer of Organigram.”

OrganiGram Holdings Inc (OTCMKTS:OGRMF) generated sales of $3.7M, according to information released in the company’s most recent quarterly financial report.

That adds up to a sequential quarter-over-quarter growth rate of 1% on the top line. In addition, the company has a strong balance sheet, with cash levels far exceeding current liabilities ($155.8M against $9.1M).

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