Partnership supports Organigram's large-scale extraction and production strategy
MONCTON, NB, Jan. 29, 2019 /PRNewswire/ - 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 it has signed a multi-year extraction contract with Valens GroWorks
Corp. (CSE: VGW, OTC: VGWCF) ("Valens"), a provider of cannabis products and services focused on proprietary
extraction methodologies, distillation, cannabinoid isolation and purification, as well as associated quality testing.
Under the terms of the agreement, Valens will extract cannabis flowers and trim from Organigram's Moncton operation as well as hemp to produce extract concentrate. In turn, the concentrate will be used by
Organigram to produce oils and, eventually, derivative edible and vaporizable cannabis products. The legalization of cannabis
edibles and other derivative based products in Canada is expected later this year.
"Looking ahead to another year of unprecedented firsts in the national and global cannabis industries, our growth
strategy is aggressive," says Greg Engel, CEO, Organigram. "A key element of that success is
partnerships with companies like Valens who can offer the capacity, quality and expertise to help ensure we deliver on our
ongoing commitment to meeting the increasing demand of the global medical and adult recreational cannabis markets."
"We are pleased to be a trusted partner of Organigram and the Canadian cannabis industry," says Tyler
Robson, CEO of Valens GroWorks Corp. "We are proud to collaborate with companies like Organigram who continue to look for
innovative technologies that will best serve the long-term needs of their customers."
The agreement between the two companies is effective immediately.
About Organigram Holdings Inc.
Organigram Holdings Inc. is a TSX Venture Exchange listed company whose wholly owned subsidiary, Organigram Inc., is a
licensed producer of cannabis and cannabis-derived products in Canada.
Organigram is focused on producing the highest-quality, indoor-grown cannabis for patients and adult recreational consumers in
Canada, as well as developing international business partnerships to extend the company's global
footprint. Organigram has also developed a portfolio of legal adult use recreational cannabis brands including The Edison
Cannabis Company, Ankr Organics, Trailer Park Buds and Trailblazer. Organigram's primary facility is located in Moncton, New Brunswick and the Company is regulated by the Cannabis Act and the Cannabis
Regulations (Canada).
About Valens GroWorks Corp.
Valens GroWorks Corp. is a research-driven, vertically integrated Canadian cannabis company focused on downstream secondary
extraction methodology, distillation and cannabinoid isolation and purification, as well as associated quality testing with three
wholly-owned subsidiaries located in and around Kelowna, BC. Subsidiary Valens Agritech ("VAL") holds a license to cultivate cannabis and produce cannabis oil under the Cannabis Act,
as well as a license to conduct analytical testing for the cannabis industry. VAL currently has extraction processing and
supply agreements with various leading producers across Canada. Subsidiary Valens Labs is a Health Canada licensed ISO 17025 accredited cannabis testing lab providing sector-leading
analytical services and has partnered with Thermo Fisher Scientific to develop a Centre of Excellence for Plant Based Science.
Subsidiary Valens Farms is in the process of becoming a purpose-built facility in compliance with European Union (EU) Good
Manufacturing Practices (GMP) standards, ensuring the product from this facility can be exported anywhere in the world where
Cannabis is nationally legal for medical or adult usage purposes.
Neither TSX Venture Exchange, the CSE nor its Regulation Services Provider (as that term is defined in policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking information which involves known and unknown risks, uncertainties and other factors
that may cause actual events to differ materially from current expectations. Important factors, including changes to supply
channels and inputs, consistency of humidity control units and contained packaging, that could cause actual results to differ
materially from the Company's expectations are disclosed in the Company's documents filed from time to time on SEDAR (see
www.sedar.com). Readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date of this press release. The Company disclaims any intention or
obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new
information, future events or otherwise. We seek safe harbor.
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SOURCE OrganiGram