Organigram Holdings Inc., a prominent licensed cannabis producer, has officially reached its first milestone under a loan agreement with the cutting-edge U.S. cannabis genetics firm Phylos Bioscience Inc. Following this accomplishment, Organigram has finalized the second tranche of their loan agreement, contributing US$2.75 million to Phylos. These advancements signalize immense growth within both companies and demonstrate the incredible potential of integrating innovative genetic technologies into the rapidly evolving cannabis sector.
Phylos Bioscience: Pioneering Research Leads to Unprecedented Results
Determined to prove the efficiency of their advanced techniques, Phylos has been conducting trials using proprietary state-of-the-art technology. As a result, their ongoing research has unveiled highly uniform and swift-growing seedlings, ultimately demonstrating the incredible potential of marker-assisted selection for breeding high-quality cannabis strains. Such extraordinary findings motivated Organigram to invest extensively in Phylos, acknowledging the opportunities that stem from these breakthroughs.
Development of Exclusive Breeding Programs for Premium Flower Varieties
With the backing from Organigram, Phylos is now preparing to establish additional breeding programs aimed at producing superior minor cannabinoid flower strains known for exceptional potency. In August, Organigram successfully introduced its first line of whole-flower derived THCV products through its acclaimed SHRED and Trailblazer brands, brought about by their strategic investment in Phylos.
Loan Agreement Specifications: A Promising Collaboration
The loan agreement between Organigram and Phylos specifies that, after completing the second tranche funding, there will be US$6 million of outstanding principal. Furthermore, Organigram has committed to providing an additional US$2 million by May 2025, assuming certain milestones are attained. This continued financial collaboration exemplifies a prosperous partnership that seeks to invigorate the cannabis industry with groundbreaking genetic advancements.
About Organigram Holdings Inc.
As a global leader in cannabis production and distribution, Organigram Holdings Inc. is listed on both the NASDAQ Global Select Market and TSX. The company produces high-quality cannabis for medical patients and adult recreational consumers worldwide. In addition to its core business operations, Organigram develops international business partnerships and maintains an extensive portfolio of legal adult-use recreational cannabis brands.
About Phylos Bioscience Inc.
Phylos Bioscience Inc. is revolutionizing the world of commercial-scale cultivation with its unique Production-Ready Seed™, which consists of premium hybrid seeds specially designed for their remarkable flower quality, potency, vigor, and yield performance. By offering these genetically advanced seeds to cultivators, Phylos consistently upholds its commitment to supporting exceptional cannabis growth. As evidenced by their partnership with Organigram, Phylos remains at the forefront of innovation in cannabis genetics, continually pushing boundaries and exploring new opportunities for cannabis producers globally.
A Flourishing Alliance & Industry Advancements
Organigram’s investment in Phylos Bioscience Inc. symbolizes an extraordinary milestone in the cannabis industry, demonstrating how the integration of cutting-edge genetic research can propel advancements and achieve unprecedented results. The ongoing support and collaboration between these two industry giants promise the continued growth and development of exceptional cannabis strains to meet the ever-evolving market demands. Ultimately, this union showcases the limitless potential for innovation in cannabis genetics and cultivation, paving the way for a thriving future in an increasingly competitive global marketplace.
Rita Ferreira
Rita is a seasoned writer with over five years of experience, having worked with globally renowned platforms, including Forbes and Miister CBD. Her deep knowledge of hemp-related businesses and passion for delivering accurate and concise information distinguish her in the industry. Rita's contributions empower individuals and companies to navigate the complexities of the cannabis world, and her work remains a valuable resource for those seeking a deeper understanding of its potential.
