Organigram locks up supply of hemp-derived CBD through long-term agreement with industrial hemp research company

 

Organigram Holdings Inc. (TSX VENTURE: OGI) (OTCQX: OGRMF), the parent company of Organigram Inc. (the “Company” or “Organigram”), a leading licensed producer of cannabis, is pleased to announce the Company has entered into an agreement with 1812 Hemp, a New Brunswick based industrial hemp research company to secure supply and support research and development on the genetic improvement of hemp through traditional plant breeding methods. 1812 Hemp is focused on further developing a line of Canadian cultivars (specific varieties of plants cultivated to enhance desirable qualities) of high cannabidiol (CBD) yielding hemp for the Canadian climate.

Under the terms of the agreement, Organigram will have access to a secure supply of hemp flower which contains significant levels of cannabidiol (CBD cultivars ranging from 4% to 8%). CBD is a naturally occurring active ingredient in hemp and cannabis that is currently being studied for various therapeutic uses.

“Maximizing the CBD yield of hemp and cannabis means being able to meet increasing consumer demand for CBD while reducing overall production costs,” explains Greg Engel, CEO Organigram. “We are proud to work with other industry-leading companies and researchers to continue to explore the potential of hemp and cannabis plants and the efficiency with which we can deliver CBD to our customers.”

The recent legalization of cannabis in Canada has meant an increased need for agriculture technologies and plant breeding research to support both the indoor and outdoor growing of cannabis and industrial hemp. 1812 Hemp is excited to leverage the considerable research capacity and the substantial experience in variety and cultivar crop development in New Brunswick as it launches its industrial hemp breeding program for the development of new and improved cultivars to support the national and global demand for high value hemp genetics.

“We see the future CBD market in Canada and beyond to be an incredible opportunity” explains Engel. “CBD infused products will only grow in both medical and adult recreational channels, and we are focused on establishing the right relationships and processes now to fully take advantage of that opportunity”.

Access to Hemp

As part of the deal Organigram has access to approximately 6,000 kg of dried hemp flower harvested in the fall of 2018 which it intends to purchase and begin to send for extraction within the first calendar quarter of 2019.

In addition, Organigram has a right-of-first refusal on future procurement of hemp from 1812 Hemp which is expected to increase significantly in 2019 and beyond.

 




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Betty Tűndik
Betty Tűndikhttps://vegnew.world
Hi everyone! Nice to e-meet you! Here are a few things you should know about me. I am a conscientious, open-minded, adaptable to new experiences, and ambitious Business Development Manager with a Bachelor's Degree in Economics - Banking, Finance, and Accountancy. Through my studies, I've also obtained many naturopathic and nutrition degrees as well. Part-time jobs have added marketing, network marketing, event management, and store management skills to my experience throughout my career. Throughout my career, I have also been a Hotel Manager and owned a Bar/Restaurant & Internet Cafe. My online marketing and social media interactivity experience was gained when I and my husband started a business with an online/organic webshop & healthy lifestyle consultancy. I've improved my English at Cambridge Academy of English - 2003, in Cambridge. I live a conscious lifestyle, and try to protect the ecosystem. Animal lover and capable of helping others without judgment or negative reactions, this is thanked my knowledge in holistic therapies and the naturopathy courses I've followed. I cannot leave for my spiritual growth and the continuous development in alternative and holistic therapies, so I'm learning at Kyron School of New Consciousness, receiving a Bio Energo-therapist diploma. Thanks to all my experiences I've decided to venture into publishing and writing, while also continuing to learn many new things daily. I hope you enjoy reading my hand-picked news and check back for my weekly articles.