Trailer Park Boys (TPB) Productions Ltd. has chosen Organigram Holdings Inc COM NPV (OTCMKTS:OGRMF) as its exclusive business partner, marijuana producer, and brand developer.
The companies have signed an initial product exclusivity and branding partnership contract of five years.
Louis Thomas, TPB Productions representative, noted that TPB Productions had long been considering entering the Canadian cannabis industry and meeting with Organigram Holdings enabled it to carry on its vision to move forward.
As part of the team-up, Organigram Holdings and TPB Productions will work closely together on a solid product portfolio with recreational cannabis consumers as the main target audience. In line with this, there will also be product placements as part of the broader branding strategy. Organigram Holdings will be responsible for the exclusive distribution of the products.
The exclusive agreement is significant for both companies. As for Organigram Holdings, the collaboration will strengthen its position in the growing cannabis industry in Canada, especially at a time when it is leaning towards legal recreational marijuana. TPB, on the other hand, can leverage the expertise of the company and expect that the deal will bear fruits.
“Brands will play a key role within the cannabis market space, and we’re devoting the thought leadership and developing our strategy well in advance of these expected changes to ensure we’re prepared,” emphasized Ray Gracewood, Organigram Holdings Chief Commercial Officer (CCO).
Last month, Organigram Holdings has fully acquired an industrial property adjacent to its Moncton-based facility. This includes a 136,000-square-foot building on a 10-acre industrial land.
The acquisition plays an important role in the company’s broader expansion strategy when it comes to marijuana production. As part of the initial construction phase, the Organigram Holdings Board of Directors has already approved the buildout of roughly 70,000 square feet. This will increase the company’s annual production rate to about 16,000 kg of flower and over 6,000 kg of fan and sweet leaf.
Organigram Holdings is not the only emerging Canadian cannabis industry player working on its long-term growth prospects, especially in terms of production capacity. New Age Farm Inc COM NPV (OTCMKTS:NWGFF), for example, has fulfilled the construction of its second eco-friendly cannabis production plant in its Washington-based Green Campus. This will enable the company to take advantage of the growing cannabis industry in the US with ramped up production capacity.
On Monday, Organigram Holdings has closed at $3.75 while New Age Farm has closed at $2.40.