Changes for page Organigram Holdings
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... ... @@ -2,56 +2,31 @@ 2 2 {{toc/}} 3 3 {{/box}} 4 4 5 -= Overview=5 += Paragraph 1 = 6 6 7 - OrganigramHoldings(OGRMF) islicensedasa Licensed Producerof medical marijuana, including dried cannabisandcannabis oil, undertheACMPR. Pursuant to itslicense,the Company ispermittedtopossess, produce,sell,provide,ship,deliver,transportand destroymedical marijuana,marijuanaplants(includingplantsandseeds) and cannabis oil, inconformity with the ACMPR, andmades firstshipmentofmedicalmarijuana toegisteredpatientsnSeptember2014. Asatthedatehereof, the Company hasoneof32 licensestoproduceand sellmedical marijuanaandneof20 licensestoproduceandsell cannabisoil underthe ACMPR. The Company hastheonly licensetoproduceandsellbothmedicalmarijuanaand cannabis oilin AtlanticCanada.Moreover,managementbelieves thatthe Company benefits froma numberofcompetitive advantageswhichwillallowittobe strategicallypositioned forfuturepotentialdevelopmentsintheindustry.{{footnote}}https://fintel.io/doc/sec/1620737/000106299319004607/form40f.htm{{/footnote}}7 +Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum. 8 8 9 - TheCompany has entered into agreements with several organizations committed to helping first responders and veterans deal with chronic ailments. Under the terms of the agreements, each of the organizations will refer patients to OrganiGram. The Company continues topursue,as part of its business model, further strategic partnershipsand opportunities withother suppliers and organizations and continues to actively evaluate such opportunities.{{footnote}}https://www.organigram.ca{{/footnote}}9 +== Sub-paragraph == 10 10 11 - Since commencingoperationsatitsmain facilitylocatedin Moncton,New Brunswick,theCompany has continued toexpandthe mainfacilitytocreateadditionalproduction capability.The Companyhasalso strategicallyacquiredlandandbuildingsadjacent tothemain facilitythatwouldbe bringtheCompany'sproductionspaceto 429,000 squarefeet over17.5acres.11 +Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum. 12 12 13 - TheCompany's license was amended August 10, 201 7, allowing the Company to store substances inventory uptoamaximum storage capacity value of $31 , 250,000 forthe security level 8 vault, and $250,000 for the security level 5 safe. The amended License has a current term that expires March27, 2020. It is anticipated that Health Canada will extend or renew the License at the end of its term. See "7.1 Financial Risk Factors".13 +== Sub-paragraph == 14 14 15 - Medicalmarijuanaandcannabisoilpatientsorder fromtheCompanyprimarily throughtheCompany's onlinestoreorthroughthephone.Medical marijuanaandcannabisoilisandwillntinuetobe deliveredby secured courier orothermethods permittedbytheACMPR.TheCompany'sprices varybased ongrow time, strainyieldandmarketprices. TheCompanymay from timetotimeoffervolumediscount orpromotional pricing.15 +Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum. 16 16 17 - TheCompany is also authorized for wholesale shipping of medical marijuanaplant cuttings and dried flower to other Licensed Producers. The Company has already completed sales through its wholesale strategy and based on current costs, management expects thewholesale shipment strategy to continue. This sales channel requires minimal selling, general and administrative costs over and above the cost to produce plant cuttings and dried flower.17 +=== Sub-sub paragraph === 18 18 19 - =Business outlook=19 +Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum. 20 20 21 -The Company continues the ongoing development of 35 English Drive and 320 Edinburgh Drive to add additional capacity and permit the increased production of medical marijuana, cannabis oil, and related products. The increase in capacity is also to prepare for legalization of recreational use of marijuana in Canada. The Government of Canada announced on April 13, 201 7, legislation to legalize the recreational use of marijuana in Canada by July 1, 2018. 22 22 23 - Thecurrent expansion at its main facility is expected to be completed and operational in the springof 2018. The expansion plan provides forasignificant increase in theCompany's cannabis production capabilities, and is designed to increase total production capacity to approximately25,000kilograms per year of flower.22 += Paragraph 2 = 24 24 25 - With theboughtdealforgrossproceeds of $50,000,003announced November28, 2017, the Companyintendsto use the net proceedsoftheffering within thenext18monthstofundan additionalexpansion programtoconstructeofthelargestindoor cannabisproductionfacilitiesin Canada. The expansionplansareexpectedtoaddupto40,000 kilograms peryearofincremental capacitywhichwouldbringtheCompanytoananticipatedannualoutput of 65,000 kilogramsperyearof medicalanddult-recreationalcannabisproducts, includingedibles, infusedoils,and extractproducts.24 +Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum. 26 26 27 - Eachphase of expansion has a focus on improving quality, safety, and capacity whilebuilding on the Company's unique growing methodology that optimizes environmental controls and ensures quality product on an annual basis. To facilitate this expansion, the Company is constructing a 30 mega-wattpower substation on-site to ensureacontinuous supply of power. Investments in operations have also occurred with recent purchases of automated processingequipment in the areas ofpotting, irrigation, climate control,harvesting,and packaging. A new super critical C02 extraction system has been installed and will be fully operational in early 2018. This piece of equipment will complement the ethanol extraction processing line to meet the demand for both medicinal and recreational oil products. The Company fosters a safe working environment and recently achieved 365 days without a lost time accident.26 +== Sub-paragraph == 28 28 29 - The Companycontinuestoplan for theanticipatedlegalizationofediblesandconcentratesintheyear2019by partneringwithT GS InternationalLLC,a vertically-integrated cannabiscompanywhichownsand operatesover300,000 squarefeetofstate licensedandregulatedproduction,processing,andmanufacturingfacilities,aswellas11medicinaland/or adult-useetaillocationsintheateof Colorado.28 +Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum. 30 30 31 - Tomanage this growth, a recent career fair was held in Moncton in October 2017 which had 600 pre-registered applications to help fill the anticipated doubling of the workforce in the next 12 months. As well, the Company has partnered with Community College of New Brunswick to developatwelve-week cultivation certificationprogram thatwill develop skilled labour for positions in the Company.30 +== Sub-paragraph == 32 32 33 -As part of its continuous focus on quality, the Company has adopted Quality Management System and Good Manufacturing Practices standards with the intention for certification to validate the quality programs. All products receive third party testing and results are published on the Company website for full transparency. 34 - 35 -Marketing initiatives for the past year resulted in a redesigned website, trade show booths, and packaging. Branding for both the recreational and medicinal markets has occurred and will be implemented during the new fiscal year, including an exclusive Canadian licensing agreement to develop a brand for the Trailer Park Boys. With a focus on product quality, the Company increased the number of registered patients by offering several new dried cannabis options, including premium flower and milled product. The Company also launched its Shubie product with success, a high CBD cannabis oil offering, targeting medical patients looking for an approachable entry point into medical cannabis. As Canadian jurisdictions continue preparing for the recreational marketplace, the Company has been actively involved in various industry-wide initiatives including federal and provincial education, advertising and branding standards, and the development of retail models. 36 - 37 -The Company announced on September 1 5, 2017 that it has entered into a memorandum of understanding ("MOU") with the New Brunswick provincial authority for the distribution of marijuana to the adult-use recreational market. Through the MOU, the province of New Brunswick secures a supply of at least 5,000 kilograms of recreational marijuana per year from Organigram. The MOU, one of the first in Canada, is the result of positive, productive and ongoing consultation between the Government of New Brunswick and the Company. 38 - 39 -Both the Company and the Government of New Brunswick are committed to the safe and responsible implementation of the upcoming federal legislation regarding access to adult-use recreational marijuana. As a result, as part of the MOU, the Company will also contribute to social responsibility programs that will provide ongoing education, helping ensure public safety remains a priority. 40 - 41 -To align itself with capacity growth, the Company has increased their medical field sales personnel by over thirty percent during the fourth quarter ending August 31 , 201 7, and are active in adding to the account management team for the recreational market. The primary focus within the medical market is fostering existing clinic relationships by offering consistent, quality products that meets the needs of the medical patients. The Company also continues to establish new and sustainable long-term strategic partnerships with both traditional family health teams and progressive clinics. 42 - 43 -On June 1 , 201 7, the Company finalized the acquisition of Trauma Healing Centers ("THC"). THC specializes in medical cannabis assessment and prescribing and sees patients on a referral basis offering a multi-disciplinary approach to healing chronic conditions. The Company believes this arrangement allows both companies the resources to scale up and achieve future expansion plans. 44 - 45 -The company believe these initiatives mentioned will position the Company for continued growth in sales and increase long- term shareholder value. 46 - 47 -= Recent development = 48 - 49 -On November 30, 2017 the company is proud to have been honoured with one of the most coveted awards of the evening: Top Sativa Flower for its popular premium flower, Wabanaki in the fourth annual Canadian Cannabis Awards ceremony and gala. 50 - 51 -On November 30, 2017 the company announced that it has entered into a letter of engagement with Eight Capital under which Eight Capital has agreed to purchase, together with a syndicate of Underwriters (the "Underwriters") 14,285,715 units (the "Units") of the Company on a "bought deal" basis pursuant to the filing of a short form prospectus, subject to all required regulatory approvals, at a price per Unit of $3.50 (the "Issue Price") for gross proceeds of $50,000,003 (the "Offering"). 52 - 53 -On October 31 , 201 7, the Company purchased the land and building on 55 English Drive, adjacent to its current campus for a purchase price of $2,000,000 cash. The building is approximately 10,000 square feet with a blue-chip tenant. The property will be used as part of its expansion plans. 54 - 55 -= References = 56 - 57 -{{putFootnotes/}} 32 +Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum.