Full Press Release Details
Organigram Secures Partnership with PAX as Brand
Partnership with PAX builds on Organigram s commitment to both quality and
a strong leadership position with next generation cannabis products
Organigram plans to offer Edison Cannabis Co. brand PAX Era pods coast to
coast, through the Company s distribution arrangements in all of Canada s ten
Estimates suggest vape pens currently represent the largest segment of
edibles and derivative based products at approximately 23 per cent of U.S.
sales based on form factori
MONCTON, June 7, 2019/CNW/ Organigram Holdings Inc. (NASDAQ:
OGI, TSX VENTURE: OGI), the parent company of Organigram Inc. (the Company or
Organigram ), a leading licensed producer of cannabis and extract-based
products, is pleased to announce it has been selected as one of the four
Canadian launch partners of PAX Era, the premium oil vaporizer created by PAX
Labs, Inc., a leading consumer technology brand in the design and development of
premium vaporizers for dry flower and concentrates, when concentrates become
legal in Canada later this year.
Much like Organigram s own Edison Cannabis Co. brand, the PAX
portfolio features disruptive, industry-leading technology, on course to
redefine the experience of vaping in Canada and around the world. Cannabis
2.0 the next generation of legal, adult use cannabis products represents a
world of opportunity, says Greg Engel. Innovative partnerships with
exceptional companies like PAX mean our own product offering grows and our
customers have access to cutting-edge technology and cannabis experiences. The
agreement with PAX reflects Organigram s own strategic commitment to growth and
leadership through technology-driven innovation.
Organigram will produce and fill Edison Cannabis
Company-branded pods specifically for the PAX Era platform. The pods will be
filled onsite at Organigram s Moncton facility at the Company s Phase 5
Organigram plans to work with and offer Edison Cannabis
Co.-branded PAX Era pods to all 10 of its provincial partners to achieve coast
to coast distribution. All sales and distribution will be subject to and in
accordance with legislation related to extractable products in Canada.
Organigram has strategically been building up significant
levels of concentrate in anticipation of the Cannabis 2.0 vape pens and edibles
launch later in the 2019 calendar year.
This is just the beginning, says Engel. Our team is
constantly applying our best creative, consumer-focused thinking to developing
exceptional, imaginative products that support our business objectives and
delight our customers.
About PAX Labs, Inc.
PAX is a leader in the design and development of premium
app-controlled vaporization technologies and devices, for cannabis flower and
concentrates. Headquartered in San Francisco, PAX has revolutionized the
consumer experience through innovation and product design, and is committed to
taking the guesswork out of cannabis with products that offer quality,
transparency and predictability. PAX has sold more than 500,000 Era devices for oil concentrates and over one
million devices in the flower vaporizer category. PAX is committed to its
mission: establishing cannabis as a force for good. For more information, please
PAX Labs does not manufacture, produce or sell cannabis.
About Organigram Holdings Inc.
Organigram Holdings Inc. is a NASDAQ Global Select and 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 Co., 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).
Neither TSX Venture Exchange 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. Often, but not always,
forward-looking information can be identified by the use of words such as
plans , expects , estimates , intends , anticipates , believes or
variations of such words and phrases or state that certain actions, events, or
results may , could , would , might or will be taken, occur or be
achieved. Forward-looking information involves known and unknown risks,
uncertainties and other factors that may cause actual results, events,
performance or achievements of Organigram to differ materially from current
expectations or future results, performance or achievements expressed or implied
by the forward-looking information contained in this news release. Examples of
such statements include statements with respect to the size of the edibles and
derivatives market, ability to achieve adoption by the Company s provincial
partners, total expected market size based on estimates from U.S. experience,
Organigram s expected market position, consumer demand for products, timing for
launch of product lines and brands and timing for implementation and
effectiveness of the legal framework applicable to such product lines. Risks,
uncertainties and other factors involved with forward-looking information could
cause actual events, results, performance, prospects and opportunities to differ
materially from those expressed or implied by such forward-looking information,
including risks associated with new product categories, extrapolation from U.S.
experience being representative of Canadian market size, provincial
receptiveness to new product categories, delays in regulation and timing for
implementation, and such risks as disclosed in the Company s most recent annual
information form and other 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. Although the Company believes that the assumptions and factors used in
preparing the forward-looking information in this news release are reasonable,
undue reliance should not be placed on such information and no assurance can be
given that such events will occur in the disclosed time frames or at all. The
forward-looking information included in this news release are made as of the
date of this news release and the Company disclaims any intention or obligation,
except to the extent required by law, to update or revise any forward-looking
information, whether as a result of new information, future events or otherwise.
We seek safe harbor.
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