Toronto, March 22, 2024–(BUSINESS WIRE)–OrganiGram Holdings, Inc. (“OrganiGram” or the “Company”) (TSX: OGI; NASDAQ: OGI) today announced strong evidence supporting its classification as an ingestible extract. Nevertheless, Health Canada has made a final redetermination that the patented Edison Joltz Lozenges product (the “Product”) is classified as edible cannabis.
The final redetermination follows the August 2023 decision of the Federal Court of Canada (the “Court”) granting OrganiGram's application for judicial review of Health Canada's decision that the product is classified as edible cannabis. It continues. The court found that there had been a breach of procedural fairness by Health Canada, and the matter was then referred back to Health Canada for re-determination having regard to the court's reasons.
“We are disappointed with the outcome of Health Canada's further review of our Jolts product,” said Veena Goldenberg, CEO of OrganiGram. “Our patented Jolz lozenges were launched over two years ago after significant research and development, and we want access to a regulated and tested ingestible product from the legal market that meets your needs for efficacy and price. We are specifically designed to appeal to consumers who believe that our products are currently being evaluated.'' options to continue to meet consumer needs while keeping them within the legal market. ” she concluded.
OrganiGram has discontinued production of Jolts in its current format and is currently working with Health Canada to determine when to sell remaining inventory to provincial distributors.
About Organigram Holdings Co., Ltd.
Organigram Holdings Inc. is a NASDAQ Global Select Market and TSX listed company, and its wholly owned subsidiaries include Organigram Inc., a licensed producer of cannabis, cannabis-derived products and cannabis-infused edibles in Canada.
OrganiGram is focused on producing high-quality cannabis for patients and adult recreational consumers and developing international business partnerships to expand the company's global footprint. Organigram has also developed and acquired a portfolio of legal adult recreational cannabis brands, including Edison, Holy Mountain, Big Bag O' Buds, SHRED, SHRED'ems, Monjour, Laurentian, Tremblant Cannabis and Trailblazer. OrganiGram operates facilities in Moncton, New Brunswick and Lac-Superieure, Quebec, and has an edible-only manufacturing facility in Winnipeg, Manitoba. We are regulated by the Cannabis Act and the Cannabis Regulations (Canada).
Forward-looking information
This news release contains forward-looking information. Forward-looking information often, but not always, includes words such as “plans,” “expects,” “estimates,” “intends,” “anticipates,” “believes” or similar words or phrases. can be identified by the use of variations of . or that a particular action, event, or result is “might,” “could,” “will,” “likely,” or “taken,” or “achieved.” to state. Forward-looking information is subject to known and unknown risks and uncertainties, including that Organigram's actual results, events, performance or achievements may differ from current expectations or future results expressed or implied by the included forward-looking information. , and other factors that may cause our results to differ materially. In this news release. Risks, uncertainties and other factors associated with forward-looking information may cause actual events, results, performance, prospects and opportunities to differ, including, but not limited to changes in market conditions, consumer preferences and the regulatory environment. May differ materially from what is expressed or implied. Disclosed in our most recent annual information form, management's discussion and analysis, and other corporate documents filed from time to time on SEDAR (see www.sedar.com) and filed with or provided to the Securities and Exchange Commission with respect to EDGAR. factors and risks (see www.sec.gov). 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 guarantee can be given that such an event will or will occur. not at all. The forward-looking information contained in this news release is made as of the date of this news release, and the Company disclaims any intention or obligation to update or revise any forward-looking information, except to the extent required by law. I deny it. new information, future events or other results;
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contact address
Media inquiries:
Megan McRae
Senior Vice President, Global Brands and Corporate Affairs
megan.mccrae@organigram.ca
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