OrganiGram Holdings Inc (OTCMKTS:OGRMF) closed its trading session on Thursday at $5.93, just a few weeks after it announced that it achieved a major production milestone with more than 1 million pre-rolls.
The company announced at the end of January 2018 that it reached the 1 million cannabis pre-roll production mark, a significant milestone for OrganiGram ever since recreational cannabis use gained legal status in 2018. The firm managed to achieve an impressive milestone mainly because it automated its production processes. It also owes the achievement to the strong consumer demand in the market which encourages the company to scale its production.
“At Organigram, we are proud to be among a select group of licensed producers who have been able to rise to the challenge of large-scale pre-roll production,” stated OrganiGram CEO Greg Engel.
Engel also noted that OrganiGram’s operations team did a great job by automating critical parts of the production process. This allowed the company to increase its overall production process while still maintaining its product quality. The firm is now one of the major players in Canada’s rapidly growing cannabis industry. Its supply chain currently spans all the provinces in the country except Quebec.
OrganiGram and Valens GroWorks Corp Sign multi-year extraction deal
OrganiGram also closed January with the announcement that it had secured a multi-year cannabis extraction deal with Valens GroWorks Corp. The latter deals with the provision of cannabis-based products and services pertaining to cannabis distillation, custom extraction methods, isolation, and purification. It also focuses on quality testing.
OrganiGram will allow Valens to extract trim and cannabis flowers from its Moncton operation so that they can generate extract concentrate. OrganiGram will then use the concentrate in its cannabis oils production process. The company also plans to use the concentrate in vaporizable and edible cannabis products. Valens CEO Tyler Robson stated that his company was excited to be one of OrganiGram’s trusted partners. He also added that Valens is proud to be working with firms such as OrganiGram towards creating innovative technologies that will then cater to the long-term needs of clients.