Organigram Holdings (NASDAQ:OGI,TSXV:OGI) announced licensing approval from Health Canada for 17 extra cultivation rooms as part of the firms Phase 4A/4B perimeter of the facility in Moncton, New Brunswick.
As quoted in the press release:
Thirteen of 31 Phase 4A cultivation rooms originally contemplated have previously been licensed. The 31 room initially contemplated for Phase 4A is being moved from the Company’s 4A plans to its 4B licensing plans thereby adjusting Phase 4A from 31 to 30 rooms and Phase 4B from 32 rooms to 33 rooms.
The approval of the new cultivation rooms represents 14,000 kilograms per year of increased target production capacity for total licensed production capacity of 61,000 kilograms per year (down from 62,000 kilograms per year as a result of the room moved from Phase 4A to 4B). This change was made to optimize licensing and construction scheduling and continuity.
“Sustainable growth, exceptional quality and constant innovation are the pillars of our overall strategic approach,” explains Greg Engel, CEO, Organigram. “We are proud to continue to increase our physical capacity to meet the needs of cannabis consumers across the country while also bringing new thinking and technology to our production.”