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Organigram Holdings Inc (CVE:OGI) Expanding Operations

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Organigram Holdings Inc (CVE:OGI) is undergoing a manufacturing facility expansion that will over triple the magnitude of its operations. The multi-million-dollar assignment will fulfill the growing requirements of the firm’s medical patient base, and prepare company for the approved, adult-recreational marijuana segment.

The details

Greg Engel, the CEO of Organigram, termed the development plans a notable, strategic investment intended to ensure the firm retains its leadership role when recreational marijuana is approved next year. Engel added that the highlights of company’s plans are – the addition of around 140 new employees by the close of next year; an increase of its current production facility to 134,000 square feet from 36,000 square feet by the close of this year advanced on three levels; an additional 36,000 square-foot expansion planned for completion by mid-2018; a manufacturing capacity increase to over 25,000 kg per year from around 5,200 kilograms annually.

The plans also focus on the acquisition of a third edifice at 55 English Drive for upcoming expansion, adjacent to the prevailing campus; and all prevailing project components are fully supported, on budget, and on plan.

Engel further said that they are dedicated to this advancement because their number-one priority is their ability to provide consumers both now and in the coming period consistent access to a wide range of high-quality offerings that meet their tastes and needs. Their three-level indoor manufacturing enables them to increase their footprint, their yields and manufacture a consistent high-quality product supply for their clients.

The CEO of Organigram added that this marks an incredibly thrilling time for them, as well as for the entire segment. They are delivering on their objective to be a key national player in both the adult0-recreational and medical cannabis segments. These attempts will bring value for their investors and will offer opportunities and economic growth in New Brunswick.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of journaltranscript.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure

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