Organigram (TSX:OGI) and Intercure (TSX:INCR.U) sign international strategic agreement

Organigram (OGI) and Canndoc, a subsidiary of InterCure Ltd., jointly announced that they have signed a new multi-year agreementThis new agreement contemplates up to 20,000 kg to be supplied to InterCure’s international supply chainOrganigram focuses on producing high-quality, indoor-grown cannabis for patients and adult recreational consumersOrganigram Holdings Inc. (OGI) is down 1.81 per cent, trading at C$1.35 per share at 12:25 pm ET

Organigram (OGI) and Canndoc, a subsidiary of InterCure, jointly announced that they have signed a new multi-year agreement.

The new strategic agreement is for Organigram to continue its supply of dried flower to InterCure Ltd. Organigram and InterCure had earlier signed a strategic supply agreement in June 2020. It contemplated a minimum supply of 3,000 kg, all of which was fulfilled.

This new agreement contemplates up to 20,000 kg to be supplied to InterCure’s international supply chain. Specifically, the agreement provides for a commitment of 10,000kg with an option for Canndoc to elect to order up to an additional 10,000kg from Organigram during the three-year term.

Organigram has already delivered approximately 2,800 kg to Canndoc since July 2022. The company has agreed to supply InterCure for the term. 

Beena Goldenberg, Chief Executive Officer of Organigram, commented on the news.

“Our business with InterCure, a leader in pharmaceutical-grade cannabis, has been mutually beneficial. We are excited to expand the relationship going forward. This new strategic agreement envisions a significantly greater amount of dried flower shipment from Organigram to Canndoc. It allows us to collaborate in the future on other emerging medical cannabis markets in European jurisdictions.”

Organigram focuses on producing high-quality, indoor-grown cannabis for patients and adult recreational consumers. The company has developed a portfolio of legal adult-use recreational cannabis brands, including Edison, Big Bag O’ Buds, SHRED, Monjour and Trailblazer.

Organigram Holdings Inc. (OGI) is down 1.81 per cent, trading at C$1.35 per share at 12:25 pm ET.

The post Organigram (TSX:OGI) and Intercure (TSX:INCR.U) sign international strategic agreement appeared first on The Market Herald.

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