Article by BNN Bloomberg
Organigram doubles down on synthetic cannabinoid investment
Organigram Holdings said Friday it is providing an additional $2.5 million investment in Hyasynth Biologicals to help further the production of biosynthetic cannabinoids. Organigram made an initial $5 million invesment in the Montreal-based biotech firm in September 2018 and the Friday announcement represents the second of three tranches the cannabis producer has the right to make. Organigram has the right to purchase potentially all of Hyasynth’s cannabinoid production at a 10 per cent discount to the wholesale market price for a 10-year period. Several cannabis producers including Organigram and Cronos have invested significantly in synthetic cannabinoid research as a way to help drive down the cost of chemical compounds contained within the cannabis plant down to pennies per gram.
B.C. political parties fail to address illegal dispensary sales ahead of election
British Columbians will be heading to the polls on Saturday, yet cannabis hasn’t received much attention in the provincial election despite the industry becoming a significant job and economic driver, The Oz reports. The B.C.-based news site said that none of the major provincial political parties are willing to address unlicensed cannabis dispensaries continuing to operate unfettered in the province. However, the NDP has announced some policies that would support the cannabis industry, including direct delivery from producers to retailers as well as allowing “farmgate” sales, where consumers could buy from cultivators directly at their facilities.