Organigram to Enter the United Kingdom with Agreement to Supply Medical Cannabis to 4C LABS
- Organigram has secured a supply agreement with 4C LABS, allowing them to provide dried Medical Cannabis flower to the UK market. This will increase access to Medical Cannabis for UK Medical Cannabis patients, potentially leading to increased demand and revenue for Organigram.
- The agreement is expected to reach approximately 600 kilograms of high-margin Medical Cannabis flower in the first year, indicating a significant increase in production and potential revenue for Organigram.
- Organigram's expansion into the UK market through this agreement is a positive move, as it allows them to tap into a growing market with limited access to high-quality Medical Cannabis products.
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Organigram to supply 4C LABS with high-quality Medical Cannabis for distribution to
UK Medical Cannabis patients -
Organigram chosen by 4C LABS to be the preferred supplier of Medical Cannabis flower to deliver innovative new products to the
UK market - First year of the agreement expected to reach approximately 600 kilograms of high margin Medical Cannabis flower, with increasing targets in the following 2 years
- Organigram to grant limited strain exclusivity for cultivars distributed by 4C LABS
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Organigram now has international supply agreements in place with
Israel ,Australia ,Germany , and theUnited Kingdom , reflecting Organigram’s strategy to expand beyondCanada into international markets includingEurope and theUK
Organigram to Enter the
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
“Medical Cannabis has been legal in the
“4C LABS is focused on delivering a value proposition to
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
About Organigram Holdings Inc.
Organigram Holdings Inc. is a NASDAQ Global Select Market and TSX listed company whose wholly owned subsidiaries include: Organigram Inc. and Laurentian Organic Inc., licensed producers of cannabis and cannabis-derived products in
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
About 4C Labs
4C LABS is a healthcare, technology and pharmaceutical company focused on virtual prescribing, pharmaceutical distribution and clinical development in cannabis based medicinal products (CBMP’s) for human health. 4C LABS is committed to advancing scientific research, as well as enabling the regulation, distribution and prescribing of CBPM's in the
Forward-Looking Information
This news release contains forward-looking information. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects”, “estimates”, “intends”, “anticipates”, “believes” or variations of such words and phrases or state that certain actions, events, or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results, events, performance or achievements of Organigram to differ materially from current expectations or future results, performance or achievements expressed or implied by the forward-looking information contained in this news release. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information include changes to market conditions, consumer preferences and ability to meet minimum purchase commitments and targets and regulatory climate, and factors and risks as disclosed in the Company’s most recent annual information form, management’s discussion and analysis and other Company documents filed from time to time on SEDAR (see www.sedar.com) and filed or furnished to the Securities and Exchange Commission on EDGAR (see www.sec.gov). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information and no assurance can be given that such events will occur in the disclosed time frames or at all. This news release contains information concerning the cannabis industry and the markets in which the Company operates, including market position and market share, which is based on information from independent third-party sources. Although we believe these sources to be generally reliable, market and industry data is inherently imprecise, subject to interpretation and cannot be verified with complete certainty due to limits on the availability and reliability of raw data, the voluntary nature of the data gathering process, and other limitations and uncertainties inherent in any statistical survey or data collection process. The forward-looking information included in this news release are made as of the date of this news release and the Company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230815619279/en/
For media enquiries:
Megan McCrae
Senior Vice-President of Marketing and Communications
megan.mccrae@organigram.ca
For investor enquiries:
Max Schwartz
Director of Investor Relations
investors@organigram.ca
Source: Organigram Holdings Inc.
FAQ
What is the supply agreement between Organigram and 4C LABS?
How much Medical Cannabis flower is expected to be supplied in the first year of the agreement?
What does the limited strain exclusivity mean?