In For a Penny, In For a Gram| 0
As things continue to develop in our fast growing marijuana business ecosystem in Canada, the government is showing support for the industry, despite some critics who say they are not doing enough.
A case in point is OrganiGram, a licensed medical marijuana producer based in Moncton, New Brunswick and currently the only such producer on the east coast past Ottawa. They recently received nearly a million dollars in payroll rebates from the government in a move reported to bring more than 200 jobs to the region.
“We have all the reason to be very excited about our future, both for medicinal and recreational marijuana. Canada will probably be one of only two countries in the world with full recreational marijuana, and clearly we will not be the last,” said Denis Arsenault, OrganiGram’s CEO in an interview with Marijuana.com.
OrganiGram is one of a handful of companies in Canada chosen to be the pioneers of the industry, getting on board at the medicinal level and waiting with bated breath for the rollout of the recreational market. When that happens, we will become the first G7 country on the planet to do so.
Denis and his team are excited about the assistance and have plans as to how it will use the investment. “The wage subsidy was provided by our Provincial Government, and the investment will be utilized to assist in cash flow. It remains another piece of the puzzle to attract further investment dollars for future expansions.”
OrganiGram’s plans for the future include a mix of aggressive expansion in this growing market and a bit of hope that recreational legislation will come soon. “We are currently completing our expansion to service the medicinal market, with a production capacity of $ 25,000,000 by year end of 2016. During 2016, senior management will also plan for the desired expansions to prepare for recreational marijuana. Definitely very exciting times for our team and shareholders.”
OrganiGram looks to the future with optimism. “We suspect the investor community will take notice soon, as the Government begins to craft the legislation for recreational marijuana. The potential of our industry will rival that of any other industry at this time in history.”