Organigram to Bolster Auto-Flower and Rare Cannabinoid Portfolio with Partial Third Tranche Investment of US $1M into Phylos
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The partial third tranche investment is expected to enable
to expand its product portfolio, addressing consumer demand for unique and differentiated aromas and flavours.Organigram - This strategic funding supports the growth and diversification of Organigram’s offerings with a view to enhancing its market position and appeal to consumers.
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Already a cultivation leader in high THCV cultivars,
Organigram will now pilot higher potency rare cannabinoids such as CBG, CBC and CBDV.
As part of the expanded milestone, Phylos is required to deliver 21 unique auto-flower seed varietals for testing and phenotyping by
“We are pleased with the progress we’ve achieved to date and the benefits that have stemmed from this strategic investment. The continuous development and milestone achievements are instrumental in expanding and differentiating Organigram’s portfolio of seed-based cultivars, which are currently being scaled and have started to deliver tangible benefits to the organization,” says
Organigram’s THCV Portfolio
Organigram’s THCV portfolio includes:
- SHRED Supersonic Citrus THCV pre-milled Flower
- SHRED X Guava Lime Go-Time Heavies Infused Pre- rolls
- SHRED’ems Guava Lime Go-Time 1:1 THCV:THC Gummies
- SHRED’ems Pink Lemonade Yuzu 2:1 THCV:THC Gummies
- Trailblazer Hustle n’ Haze THCV pre-rolls
- Monjour Cherry Citrus Sunshine 8:3:1 CBD/THCV/THC Gummies
Convertible Loan Details
Including the current partial third tranche advance,
The Convertible Loan accrues paid-in-kind interest (“PIK”) at a rate of
About
About
Phylos is a cannabis genetics company focused on producing genetics for the highest quality varietals that can be grown at scale in a cost-effective way. Phylos owns and sells products that are legal under US and Canadian laws – seeds that the
Forward-Looking Information
This news release contains forward-looking information. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects”, “estimates”, “intends”, “anticipates”, “believes” or variations of such words and phrases or state that certain actions, events, or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results, events, performance or achievements of
Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information include factors and risks such as completion of the milestones by target dates established, regulatory and market conditions, the success of seed based production and the outcome of any commercialization efforts together with those factors and risks disclosed in the Company’s most recent annual information form, management’s discussion and analysis and other Company documents filed from time to time on SEDAR+ (see www.sedarplus.ca) and filed or furnished to the
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 assurance can be given that such events will occur in the disclosed time frames or at all. The forward-looking information included in this news release are made as of the date of this news release and the Company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.
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For Media enquiries:
Senior Vice President of Global Brands and Corporate Affairs
megan.mccrae@organigram.ca
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Director of Investor Relations
investors@organigram.ca
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