Organigram Signs Israeli Cannabis Supply Agreement With Canndoc

Organigram Holdings (TSX: OGI) (NASDAQ: OGI) this morning announced that it has entered a supply agreement with Canndoc, one of the largest Israeli medical cannabis producers. The agreement is for a period of two years, and is for the supply of dried cannabis flower.

Financial details related to the announcement were slim, with the company instead identifying that the supply agreement is for a guaranteed 3,000 kilograms of dried flower product, to be delivered by December 31, 2021. Canndoc also has the option to purchase up to an additional 3,000 kilograms during the allotted time period.

In terms of dollar value, Organigram stated, “The agreement provides for a tiered pricing scheme and the exact value will vary depending on factors such as potency and product mix.” As such, a final figure for the large international order is not known, nor is relative pricing of product. The agreement does however enable Organigram to launch branded medical products within Israeli and European markets via Canndoc, with exclusivity and such rights being awarded to Canndoc for a period of 7.5 years.

Canndoc is a subsidiary of InterCure Ltd, the first licensed medical cannabis operator to list on the Tel Aviv Stock Exchange.

Organigram Holdings last traded at $2.03 on the Nasdaq.


Information for this briefing was found via Sedar and Organigram Holdings. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Why $50 Silver, $4000 Gold Might Be Closer Than Anyone Thinks | Bradley Langille – GoGold Resources

Why Silver’s True Price Could Be Much Higher | Joaquín Marias – Argenta Silver

Gold Enters A ‘Stronger For Longer’ Phase | Richard Young – i-80 Gold

Recommended

Emerita Resources Intersects Further Mineralization At El Cura, Expanding Deposit

ESGold Sees ANT Survey Reveal Vertically Continuous System To 1,200 Metres Depth

Related News

Public Cannabis Companies Have Already Received More Than $25 Million in Federal Wage Subsidies

In response to the spread of COVID-19, the Canadian Federal Government introduced several programs to...

Saturday, November 14, 2020, 10:00:00 AM

Organigram Conducts Management Change Up

Organigram Holdings (TSX: OGI) (NASDAQ: OGI) has performed what amounts to a management shuffle between...

Wednesday, March 4, 2020, 08:30:57 AM

Cantor Releases Industry Report For Cannabis, Aphria Remains Top Pick

Recently, Cantor Fitzgerald released their monthly review of Hifyre data for the four weeks ending...

Sunday, October 4, 2020, 01:57:00 PM

Organigram Posts Declining Revenue, Net Loss for Third Quarter

Organigram Holdings (TSXV: OGI) (NASDAQ: OGI) reported its third quarter results early this morning, posting...

Monday, July 15, 2019, 10:13:51 AM

Organigram: Analysts Upgrade Targets Following BAT Investment

On March 9th, Organigram Holdings (TSX: OGI) (NASDAQ: OGI) announced that they received a C$221...

Sunday, March 14, 2021, 06:32:00 PM