Connect with us

Business

How OrganiGram Holdings Inc (OTCMKTS:OGRMF) Fills Up the Map

Published

on

OrganiGram Holdings Inc (OTCMKTS:OGRMF) shares have pulled back to test key support at the stock’s major long-term moving average, but still well above its pivot summertime lows. The trend remains sloped higher into the teeth of this recent volatility. To help assuage the pressure, the company just announced that it has signed a supply agreement with the Province of British Columbia.

As noted in its presser, the company has signed an agreement with the BC Liquor Distribution Branch (BCLDB), the sole, wholesale distributor of non-medical cannabis for the province that will operate standalone, public retail stores and provide online sales. The upshot is the sense that Organigram is now a coast-to-coast player.

OrganiGram Holdings Inc (OTCMKTS:OGRMF) is a TSX Venture Exchange listed company whose wholly owned subsidiary, OrganiGram Inc., is a licensed producer of medical marijuana in Canada.

The next big cannabis story to hit North America is Phoenix Life Science International (PLSI), traded in the US, but with the largest global production based in the tropics and a license to distribute worldwide. Take a look at Phoenix Life Science International PLSI), Its currently trading under $18 dollars per share on the OTC markets. Learn More Now!

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.

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.”

 

Coast to Coast

As noted above, OGRMF just came forward with news that the company has signed a supply agreement with the Province of British Columbia to take its geographic exposure to a full coast-to-coast status. The announcement has helped to pare recent pressure in the stock, with shares now up about 12% in the past week.

“Organigram’s strategic vision has always been to establish a definitive national footprint,” says Greg Engel, Organigram’s Chief Executive Officer. “We are proud to realize that vision and offer Canadians from coast to coast access to our growing recreational product portfolio.”

Over the past month, shares of the stock have suffered from clear selling pressure, dropping by roughly -21%. But support appears to be establishing itself in the past week.

“We are excited to work with partners across the country, now including the Province of British Columbia to help ensure the success of new adult-use recreational cannabis markets in each of these regions,” says Tim Emberg, Vice President of Sales and Commercial Operations, 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 just 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).

Pushing the barriers for global distribution, Phoenix Life Science International (PLSI) is the next cannabis play. Just think Canopy x 100, that is how big their plantation in the tropics will be. No lights, no green houses, just maximum growth + minimal cost = home run. Learn More Now!

   

Learn More About PLSI at your brokerage today!

         

Trading Symbol

OTC: PLSI

The Next Big Global Cannabis Trade




FEATURED STORIES

INDUSTRIAL HEMP6 days ago

Cronos Group Inc. (NASDAQ:CRON) Pops On Altria Acquisition Talk After Q3 Net Loss Disappointment

Cronos Group Inc. (NASDAQ:CRON) is skyrocketing up the charts having emerged it is an acquisition target of Marlboro cigarette-maker Altria...

Business6 days ago

American Green Inc (OTCMKTS:ERBB) Kicks Off December On Rough Patch

American Green Inc (OTCMKTS:ERBB) seems to have started the month of December on a rather dull pace after closing the...

Business1 week ago

HempAmericana Inc. (OTCMKTS:HMPQ) Due For A Bounce Back As Sentiments Turn Bullish

HempAmericana Inc. (OTCMKTS: HMPQ) might as well have served groundbreaking catalysts set to trigger a rally from the current lows....

Business1 week ago

Hemp Inc. (OTCMKTS:HEMP) Surging On Massive Opportunity In Hemp Sector

Hemp Inc. (OTCMKTS:HEMP) bounce back after a steep pullback is gaining momentum. The stock could as well break out of...

Business2 weeks ago

Why Medmen Enterprises Inc (OTCMKTS:MMNFF) Could be Set to Rip

Medmen Enterprises Inc (OTCMKTS:MMNFF) has been beaten down soundly over the past 6 weeks. The stock continues to set up...

Business2 weeks ago

Can Green Thumb Industries Inc (OTCMKTS:GTBIF) Get Some Traction Following Primary Data?

Green Thumb Industries Inc (OTCMKTS:GTBIF) is another cannabis player to hit the wires with its quarterly financials. This comes at...

Business2 weeks ago

Charlotte’s Web Holdings Inc (OTCMKTS:CWBHF) Hits the Wires with Q Data as Farm Bill Readies

Charlotte’s Web Holdings Inc (OTCMKTS:CWBHF) just announced financial results for the third quarter and nine months ended September 30, 2018....

Business2 weeks ago

KushCo Holdings Inc (OTCMKTS:KSHB) Beats Single Analyst Estimates on Q3 Numbers

KushCo Holdings Inc (OTCMKTS:KSHB) just announced financial results for its fiscal year 2018, for the period ended August 31, 2018....

Business2 weeks ago

OrganiGram Holdings Inc (OTCMKTS:OGRMF) Looks to Solidify Support on Expanding Supplier Status

OrganiGram Holdings Inc (OTCMKTS:OGRMF) has been an interesting outperformer in the cannabis space for most of the year. However, shares...

Business3 weeks ago

Growlife Inc (OTCMKTS:PHOT) Could be Flying Under the Radar

Growlife Inc (OTCMKTS:PHOT) has been grinding lower over the past 10 months, which represents some clear underperformance relative to the...

Create a future where the human body can repair, restore, and rejuvenate itself

 

Trading Symbol

OTC: PLSI

The Next Big Global Cannabis Play