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Organigram Holdings Inc. (NASDAQ:OGI) (TSX:OGI), the parent company of Organigram Inc., said Thursday it has struck a supply agreement with Medical Cannabis by Shoppers, a subsidiary of Shoppers Drug Mart Inc.
Per the agreement, Organigram will supply Shoppers with products such as dried flower and oils. The initial term of the agreement is set for three years, subject to renewal for extra two years.
The new deal reflects the commitment of Organigram and Shoppers to bring high-quality medical cannabis products to Canadian consumers, according to Organigram.
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“We are extremely proud to partner with Shoppers and believe that our complementary approach to the medical cannabis market will offer the full strength of our combined national networks to Canadian patients,” Tim Emberg, Organigram's senior vice president of sales and commercial operations, said in a statement.
“We are pleased that we will now be able to offer medical cannabis patients across the country even greater access to our growing portfolio of high-quality products.”
Organigram shares were trading 5.24% higher at $3.30 at the time of publication.
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Organigram Analysts Say Stock's Post-Earnings Rally 'Overdone,' Company Should Add Leverage
Organigram Shares Jump On Q1 Print, Cannabis Company Doubles Net Revenue
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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