Organigram Receives Health Canada’s Final Redetermination on Jolts
23 März 2024 - 12:00AM
Business Wire
Organigram Holdings Inc. (“Organigram” or the “Company”) (TSX:
OGI; NASDAQ: OGI), announced today that, despite strong evidence
supporting its classification as an ingestible extract, it has
received a final redetermination from Health Canada that its
patented Edison Jolts lozenge products (the “Products”) are to be
classified as edible cannabis.
The final redetermination follows the August 2023 decision of
the Federal Court of Canada (the “Court”) to grant Organigram’s
application for judicial review of a decision of Health Canada
determining that the Products are to be classified as edible
cannabis. The Court found there was a breach of procedural fairness
by Health Canada and the matter was then remitted back to Health
Canada for redetermination taking the Court’s reasons into
consideration.
“We are disappointed with the outcome of Health Canada’s further
review of our Jolts product,” said Beena Goldenberg, CEO of
Organigram. “Our patented Jolts lozenge was launched over two years
ago following significant research and development and was
specifically designed to appeal to consumers looking to access
regulated and tested ingestible products from the legal market that
met their needs for potency and price. We are currently assessing
our options to continue to meet the needs of consumers while
retaining them within the legal market,” she concluded.
Organigram has stopped the production of Jolts in its current
format and is currently working with Health Canada on timing to
sell through remaining inventory to the provincial
distributors.
About Organigram Holdings Inc.
Organigram Holdings Inc. is a NASDAQ Global Select Market and
TSX listed company whose 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, as well as developing
international business partnerships to extend the Company’s global
footprint. Organigram has also developed and acquired a portfolio
of legal adult-use 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-Supérieur, Quebec,
with a dedicated edibles manufacturing facility in Winnipeg,
Manitoba. The Company is regulated by the Cannabis Act and the
Cannabis Regulations (Canada).
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 Organigram to
differ materially from current expectations or future results,
performance or achievements expressed or implied by the
forward-looking information contained in this news release. 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
changes to market conditions, consumer preferences and regulatory
climate and factors and risks as 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.sedar.com) and filed or furnished to the Securities
and Exchange Commission on EDGAR (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 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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version on businesswire.com: https://www.businesswire.com/news/home/20240322344068/en/
For Media enquiries: Megan McCrae Senior Vice President,
Global Brands and Corporate Affairs megan.mccrae@organigram.ca
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