TORONTO-(BUSINESS WIRE)-Organigram Holdings Inc. (“Organigram” or the “Firm”) (TSX: OGI; NASDAQ: OGI), introduced as we speak that, regardless of sturdy proof supporting its classification as an ingestible extract, it has acquired a last redetermination from Well being Canada that the its patented merchandise Edison Jolts (the “Merchandise”) are to be categorised as edible hashish.
“We’re dissatisfied with the end result of Well being Canada's additional evaluate of our Jolts product”
The ultimate redetermination follows the August 2023 choice of the Federal Courtroom of Canada (the “Courtroom”) to grant Organigram's software for judicial evaluate of a Well being Canada choice figuring out that the Merchandise are to be categorised as and edible hashish. The Courtroom discovered that there was a violation of procedural equity on the a part of Well being Canada and the matter was remanded to Well being Canada for redetermination making an allowance for the explanations of the Courtroom.
“We’re dissatisfied with the end result of Well being Canada's additional evaluate of our Jolts product,” mentioned Beena Goldenberg, CEO of Organigram. “Our patented Jolts capsule was launched greater than two years in the past after important analysis and growth and has been designed to attraction to shoppers searching for to entry regulated and examined ingestible merchandise from the authorized market that meet their energy wants and worth. We’re presently evaluating our choices to proceed assembly the wants of shoppers whereas preserving them within the authorized market,” he concluded.
Organigram has stopped manufacturing of Jolts in its present format and is presently working with Well being Canada on timing to promote via the remaining stock to provincial distributors.
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