Organigram Holdings Inc. (TSX VENTURE: OGI) (OTCQX: OGRMF) just announced a $5 Million investment in Eviana Health Corporation (TSX VENTURE: EHC.CN). Organigram produces and retails medical pot to users and physicians in Canada. It also runs healing centers to treat post-traumatic stress disorders, chronic pain, and trauma therapy. The transaction will give the country a road into Europe.
Dipping Its Toes in International Water
“Our investment in Eviana represents just the beginning of our international aspirations, but is representative of our approach to work with trusted local partners to both move quickly with boots on the ground and to navigate regional regulatory issues effectively.” Greg Engel, CEO of Organigram.
Eviana is an $18 Million market cap. company that produces cannabidiol (CBD) from natural hemp strains in Serbia. The company uses Canadian engineered extraction machinery, and Serbia’s fertile growing land in pursuit of high quality pot. Its CBD will be used in customized consumer health-care products, pharmaceuticals, nutritional products, and cosmetic.
The acquisition will help Organigram’s extend the Company’s global footprint. Its brands include The Edison Cannabis Company, Ankr Organics, Trailblazer and Trailer Park Buds.
A No-Brainer for Eviana
“In Organigram we have a strategic ally that will join us as we continue to capitalize on the international CBD market into the future. We have also strengthened our balance sheet as we scale up our production operation and fund our ambitious future growth plans in the international CBD market,” Avram Adizes, Chief Executive Officer of the Eviana.
A Trend Toward Europe
Canopy Growth Corp., Aurora Cannabis Inc., and Tilray Inc. are also making international inroads. Many of the big pot companies are courting European investment dollars. They have also signed export deals with European governments, acquired local businesses and opened production facilities in Europe.