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OrganiGram Holdings Inc (OTCMKTS:OGRMF) is Acting Like a Champ

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OrganiGram Holdings Inc (OTCMKTS:OGRMF) continues to be a favorite of ours. The stock simple acts too well to escape attention. The market is getting blown up, and cannabis stocks are correcting. But OGRMF is holding its ground over recent days like a champ. In addition, the company just announced that both its medicinal cannabis plants and its growing process have been certified organic with Ecocert Canada.

As the company notes, the process of re-certification coincided with Organigram’s significant expansion of its facility to meet the growing and anticipated demand for both mineral and organic production. “As part of the process, Organigram submitted a comprehensive action plan to Ecocert Canada, part of the Ecocert group, one of the largest organic certification organizations in the world, outlining the company’s robust segregation design to manage and execute the complexities of producing and processing both streams of product within the same facility.”

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.”

 

Grabbing Some Green

The key here is that, by announcing that both its medicinal cannabis plants and its growing process have been certified organic with Ecocert Canada, the company has managed to tap into green fever in addition to its expansion as a frontrunning growth story in the cannabis space.

Despite weakness in the broad market and most stocks even in the cannabis space, OGRMF shares have been relatively flat over the past week of action, with very little net movement during that period. What’s more, the company has registered increased average transaction volume recently, with the past month seeing 91% above its longer-run average levels.

Both of these facts are positive indications given the broad market environment.

“When we considered the need to expand and meet the needs of our existing and future customer base, it was apparent that we needed to take our time and create an environment of excellence related specifically to the production of organic cannabis for medicinal use,” says Greg Engel, CEO Organigram. “We have built a robust and diligent organic strategy into our plans to help ensure we can confidently deliver medicinal products that meet the exacting standards of our clients.”

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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