Deal secures Organigram’s portfolio within Canopy Growth’s retail stores & launches B2B sales platform
Organigram Holdings Inc. (TSX VENTURE:OGI) (OTCQX:OGRMF), the parent company of Organigram Inc. (“Organigram”) and Canopy Growth Corporation (TSX:WEED) (NYSE:CGC) (“Canopy Growth”) (collectively, the “Companies”), leading licensed producers of cannabis are pleased to announce that following Organigram’s approval as a cannabis supplier in the Province of Newfoundland and Labrador, the Companies have signed a two year supply and distribution agreement.
Organigram will become a key supplier of branded, finished cannabis products to Canopy Growth’s Tweed-branded retail operations in Newfoundland and Labrador once adult recreational cannabis is legalized in Canada on October 17th, 2018. Canopy Growth will also perform a B2B sales function for Organigram by marketing its portfolio to other licensed retail outlets in Newfoundland and Labrador.
“We are very excited to partner with Canopy Growth in Newfoundland and Labrador,” says Tim Emberg, Vice President of Sales and Commercial Operations, Organigram. “Canopy is a tremendous industry partner and we are looking forward to working with them to provide Newfoundlanders with an exceptional selection of quality cannabis products.”
Currently, Organigram also has supply agreements/memorandums of understanding with the provinces of New Brunswick, Nova Scotia, Prince Edward Island, Alberta, Manitoba and Ontario. Canopy has secured supply agreements in every province & territory with announced supply plans. Today’s announcement applies to Newfoundland and Labrador only and the commercial terms of the agreement not disclosed in this press release are confidential.
“Customers exploring the new cannabis retail environment will be looking for product diversity. Similar to our medical cannabis e-commerce site, offering our customers a wide product offering, focused on diverse and complementary brands, has always been a key strategy for us,” said Rade Kovacevic, EVP, Recreational Cannabis & Managing Director, Canada. “Organigram’s product selection will complement our existing product mix to provide Tweed customers with additional options in Newfoundland and Labrador.”