A Strong Step Forward for the Legal Cannabis Market in Ontario

Article by Financial Post Business Wire

A Strong Step Forward for the Legal Cannabis Market in Ontario Business Wire Business Wire November 7, 2019 6:00 AM EST Filed under Business Wire News Releases Comment Facebook Twitter Reddit Email More Organigram Expects Enhanced Ability to Meet Consumer Demand with Ontario Government’s Positive Changes to Cannabis Retail

Organigram Holdings Inc. (NASDAQ: OGI) (TSX: OGI), the parent company of Organigram Inc. (the “Company” or “Organigram”), a leading licensed producer of cannabis is pleased to offer its support for the Ontario provincial government’s planned improvements to that province’s retail cannabis program announced yesterday.

Changes announced in yesterday’s 2019 Fall Economic Statement include the addition of farmgate sales; private ‘click and collect’ sales; and a pronounced commitment to expanded retail access in the province, which will be limited only by consumer demand.

“The Ontario government has demonstrated today that it is listening to the legal cannabis sector and that it values the contribution this industry makes to the Ontario economy,” said Organigram CEO Greg Engel, following the announcement. “We applaud Premier Ford and his government for a plan that improves access and efforts to support and build a thriving cannabis sector. As a next step, we strongly urge the government to announce before the end of the year an expedited timeline for retail expansion in the province. We will continue to work closely with Ontario and are looking forward to working to meet the increased demand that is expected with this retail expansion.”

“The announcement comes at a crucial time,” Engel added. With the impending launch of next-generation derivative products, the revised model is expected to support greater freedom of choice for consumers, allowing increased access to a wider variety of regulated products through increased points of distribution.

“We have heard time and again from consumers and retailers across Canada about the importance of face-to-face transactions in the cannabis purchase decision; with limited stores in Ontario, consumers have not been receiving the same level of service those in other provinces appreciate,” Engel said. “These changes will not only improve access to safe products which undergo rigorous testing prior to sale, but access to credible product education.”

Organigram, with two corporate offices in Ontario, further applauds the province’s commitment to supporting industry growth in the region, not only for retail and production potential, but for new potential in farmgate-focused ‘canna-tourism’.

“These changes not only demonstrate that the province is receptive to consumer and industry feedback but recognize the economic potential of cannabis in Ontario. This improved model will create sustainable jobs for Ontarians across the province and contribute to a robust, thriving national cannabis industry.”

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