Organigram Increases Investment in Phylos After Successful Milestone Achievement
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Tuesday, November 28, 2023
Professional Services, Cannabis, Retail, Specialty, Finance, Natural Resources, Cannabinoid, Senior, Convertible, Seed, Trailblazer, Loan agreement, Multimedia, THCV, CBDV, OGI, Initial, CBC, PIK, Breeding, R, THCP, Innovation, TSX, Loan, CBG, Security (finance), Organizational chart, Phylo (polychaete), Citrus
This second tranche follows the initial tranche of US$3.25 million advanced in May 2023 for a total of US$6 million in senior secured convertible loans (“Convertible Loans”) currently outstanding.
Key Points:
- This second tranche follows the initial tranche of US$3.25 million advanced in May 2023 for a total of US$6 million in senior secured convertible loans (“Convertible Loans”) currently outstanding.
- View the full release here: https://www.businesswire.com/news/home/20231128416832/en/
Organigram’s ongoing trials using Phylos technology have resulted in highly-uniform, predictable, and fast-growing seedlings. - Our investment in Phylos was driven by that commitment, and we are thrilled with the progress we have made and the benefits we are reaping from this strategic investment,” says Borna Zlamalik, Senior Vice President, R&D and Innovation at Organigram.
- In August, Organigram launched its first lineup of whole-flower derived THCV products through the Company’s popular SHRED and newly re-launched Trailblazer brands enabled by the strategic investment in Phylos.