Orgnigram Holdings, a licensed CBD producer, recently issued a press release announcing that it has entered into an advanced payment and purchase agreement with 70354 N.B. Inc, also known as 1812 Hemp. The agreement gives Organigram Holdings the purchase of pre-funded hemp at a size of 60,000 kg. The hemp is to be harvested in 2019 and extracted into isolate CBD.
The purchase agreement allows Organigram to receive access to the hemp flower supply, which according to the press release, contains a significant amount of high levels of CBD, compared to other cultivators approved by Health Canada.
Greg Engel, the CEO of Organigram, shared in the press release,
“Access to a large, consistent volume of CBD-producing hemp has become increasingly important as Canadians express their demand for CBD-rich products for use in both recreational and medical capacities.”
He continued, “We’ve heard the call for CBD in the market and this agreement positions Organigram to meet that demand.”