2014-12-01 08:17 ET – News Release –
Mr. Denis Arsenault reports
ORGANIGRAM ANNOUNCES THREE ADDITIONAL GROW ROOMS PASS INSPECTION – INCREASE PRODUCTION
OrganiGram Holdings Inc. has completed, as part of the expansion at its medical marijuana production facility in Moncton, the construction of three additional 72-flowering-light grow rooms. In accordance with the Marihuana for Medical Purposes Regulations, all necessary Health Canada inspections and approvals have been obtained.
The completion of the three new grow rooms will add 1,700 plants to the facility, enabling the company to increase production levels to one million grams (1,000 kilograms) and represents approximately $8-million in revenue per year.
“We are extremely happy to be making this announcement today. The OrganiGram team has been working tirelessly to bring these new grow rooms on-line and fulfill our commitment to MMPR patients,” said Denis Arsenault, chairman and chief executive officer.
Expansion update
Additionally, the company began construction of a further eight grow rooms on Oct. 1, 2014. The construction of these 90-flowering-light rooms is expected to be complete and production to begin in February, 2015. Once completed, this phase of expansion will add 11 grow rooms totalling 936 flowering lights to the current facilities capacity. This expansion will increase the facility’s production to three million grams (3,000 kilograms) and represents approximately $24-million in revenue per year.
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