Initial Yields Support Predictions
of Increased Capacity in Production Facility Expansion
MONCTON, NB, April 23, 2018 /CNW/ - Organigram Holdings Inc.
(TSX VENTURE:OGI) (OTCQB:OGRMF) (the "Company" or
"Organigram"), a leading licensed producer of medical
marijuana based in Moncton, New
Brunswick, is pleased to announce the yield results from the
inaugural harvest in the first of its 23 new, state-of-the-art
Phase 2 indoor grow rooms.
Beginning on Friday, "4/20" and completed on Saturday,
Organigram harvested over 1500 plants from the first room
commissioned in the Company's Phase 2 expansion. The first of the
23 new rooms, which began housing plants on February 10th, has reached final stages of
flowering for its first crops. Harvests from subsequent rooms will
begin this week.
Initial yields support the Company's predictions that changes in
process efficiencies will result in annual yields higher than
initially estimated when Phase 2 was designed. At present,
the Company reaffirms its target production capacity from Phases 1
and 2 of approximately 22,000 kg/year (up from initial estimations
of 16,000 kg/year). Facility enhancements include a fully-automated
irrigation system, automated potting, a fully automated waste
destruction system and automated packaging lines, adding to a
data-based production approach which ensures growing optimization
for every room.
"The first harvest out of these new rooms is proof that we've
come to know our plant strains and our tools to the point where we
understand how to create the optimal environments they need in
order to thrive," says Organigram CEO Greg
Engel, adding Organigram targets yields of approximately 400
grams per square foot of canopy space.
Another 16 growing rooms are anticipated to be brought online
with plants beginning to fill the rooms on or around June 1, 2018, following Health Canada approval of
its Phase 3 expansion. Once approved, this subsequent addition will
result in a target combined production capacity from Phases 1, 2
and 3 of 36,000 kg/year.
For more information, visit www.Organigram.ca
About Organigram Holdings Inc.
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. Organigram's facility
is located in Moncton, New
Brunswick and the Company is regulated by the Access to
Cannabis for Medical Purposes Regulations ("ACMPR").
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
This news release contains forward-looking information which
involves known and unknown risks, uncertainties and other factors
that may cause actual events to differ materially from current
expectations. Important factors - including the availability of
funds, consummation of definitive documentation, the results of
financing efforts, crop yields - that could cause actual results to
differ materially from the Company's expectations are disclosed in
the Company's documents filed from time to time on SEDAR (see
www.sedar.com). Readers are cautioned not to place undue reliance
on these forward-looking statements, which speak only as of the
date of this press release. The Company disclaims any intention or
obligation, except to the extent required by law, to update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise.
SOURCE OrganiGram