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Be the first with the news that moves the market- OrganiGram (OGI) has entered into a purchase agreement with Green Tank Technologies and a subscription agreement with its parent company, Weekend Holdings, to enhance its cannabis vape hardware lineup
- OrganiGram invested US$4 million in Weekend Holdings preferred shares, representing a 2.6 per cent interest in the company
- The purchase agreement grants OrganiGram exclusivity in Canada for new technology incorporated into 510 vape cartridges, along with the development of a custom all-in-one device that will be exclusive to the company
- Green Tank’s vape technology eliminates the need for a ceramic coil, allowing for an efficient and consistent performance, increased potency and superior flavor
- OrganiGram is a licensed producer of cannabis and cannabis-derived products
- OrganiGram (OGI) opened today at $0.87
OrganiGram (OGI) has entered into a product purchase agreement with Green Tank Technologies.
The purchase agreement provides OrganiGram with an exclusivity period in Canada for new technology for 510 vape cartridges and other formats for use with cannabis, including a custom all-in-one device that will be proprietary to OrganiGram.
The company also signed a subscription agreement with Green Tank’s parent company, Weekend Holdings. The agreement saw OrganiGram subscribe for US$4 million of Weekend Holdings preferred shares, representing a 2.6 per cent interest in the company.
OrganiGram expects the transactions to accelerate the company’s performance in the vape category.
Green Tank’s tech offers a 510 solution without ceramic particle emissions. It instead generates unique aerosols which can efficiently deliver consistent performance, increased potency and superior flavor.
OrganiGram’s balance sheet is positioned to make further strategic investments to differentiate its products and propel continued growth.
The vape category currently represents 17 per cent of the Canadian market and continues to grow, according to the most recent HiFyre data.
OrganiGram (OGI) opened today at $0.87.
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