After applying to the NASDAQ Global Select Market last month, Organigram Holdings Inc. (TSX-V: OGI; OTCQX: OGRMF) has now received approval for trading common shares.
Shares of Organigram will appear on NASDAQ at the start of business this coming Tuesday, May 21 under the ticker symbol OGI. Shares on the OTCQX market under the OGRMF ticker symbol will continue to trade until close of business on Monday, May 20.
Organigram Holdings is the parent company of Canadian licensed cannabis producer Organigram Inc, which runs a cultivation facility in New Brunswick and oversees brands such as Trailer Park Buds and The Edison Cannabis Company.
Listing on international stock exchanges has become a rite of passage for companies in the Canadian cannabis industry seeking greater name recognition and fundraising opportunities. While marijuana remains illegal at the federal level in the US, companies involved with cultivation and sales of cannabis have still successfully listed on exchanges such as the New York Stock Exchange (NYSE) and NASDAQ.
This past February, Ontario-based medical cannabis company CannTrust successfully listed on the NYSE, while Aphria Inc. made the leap back in November of 2018.
Discussing the move away from the OTC Markets to trading on NASDAQ, Organigram Chief Executive Officer Greg Engel commented:
We are pleased to celebrate this significant company milestone. We are proud to have assembled a world-class team and facility that continues to deliver value to our shareholders. This listing will help us continue to demonstrate our commitment to dynamic growth.
Earlier this week Organigram also announced a new member of upper management, recruiting Cameron Bishop to serve as VP of Public Affairs and Stakeholder Relations.
In that role, Bishop will use his experience as a government relations expert to navigate cannabis laws and regulations in North America, work with advocacy groups, craft education initiatives, and provide strategic advice to the company.
In other recent Organigram news, Senior Vice President of Marketing and Communications Ray Gracewood was appointed to the board of the Cannabis Council of Canada (C3). Gracewood joins senior management from companies such as Tilray, Aphria, Aurora, and The Supreme Cannabis Company on the C3 board to advocate for increased patient access and supporting the recreational side of the industry.